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The commercial arm of Lake Taupō Forest Trust, Tupu Angitu, has signed a memorandum of understanding with Māori-Singapore-Taiwan start-up NZ Bio Forestry Ltd which could lead to its forestry waste being turned into fuel and other fossil fuel substitutes.
The directors of NZ Bio Forestry are Paul Morgan, Wayne Mulligan and Singapore-based Yin Fah Kam.
The company plans to establish as many as 12 facilities across New Zealand converting softwood into biochemicals.
Tupu Angitu chair Temuera Hall says Lake Taupō Forest Trust controls over 33,700 hectares on behalf of its 14,000 Ngāti Tūwharetoa owners, and Tūwharetoa is also a co-owner of the 170,000 hectares Kaingaroa forestry estate.
He says the relationship could increase the value of the forestry estate and create new regional jobs.
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