November 10, 2021
Māori invest in hydrogen-powered future
The chair of Māori investment fund Te Pūia Tāpapa says a shift by truck leasing company TR Group towards hydrogen fuel means Māori are in at the start of a big market opportunity.
Te Pūia Tāpapa bought about 5 percent of TR Group last year in a consortium with the New Zealand Superannuation Fund and Direct Capital, and Paul Majurey says given strong returns so far it’s keen to increase its stake.
Part of the reason for the investment was to support decarbonisation as a long term economic transformation, which the company is starting to deliver on through the purchase of 20 Hyzon hydrogen fuel cell trucks.
The only emissions from the 600HP, 58 tonne GCM tractor units will be water.
Mr Majurey says it means about 5,000 tonnes less CO2 going into the atmosphere each year.
“The very strong support by te iwi Māori for green hydrogen, te hauwai. I am aware of a number of Māori entities looking at both the supply and demand side of this. The TR Group uptake is strongly supported and I look forward to a strong future with out people leading these renewable sectors,” he says.