The Wood Processing Growth Fund (WPGF) second capital investment round of the Accelerator program is open, and applications must be received by 26 August 2024. Accelerator provides loans or equity finance to co-fund capital investment in new capacity and improvements that increase onshore wood processing capacity, productivity and improve competitiveness. Source: Timberbiz
This second investment round continues to focus on projects that are investment ready. Investors who are advanced in planning a new wood processing development, or an expansion or upgrade to existing sawmills, engineered wood, panels, or roundwood production should consider applying.
The WPGF also provides grants for pre-investment activities such as business cases, feasibility studies and technical assistance through the WPGF Catalyst programme.
Some details on those two funding streams are as follows:
- Accelerator – up to NZ$33M in debt or equity investment in capital projects aimed at expanding wood processing.
- Catalyst fund – provides up to NZ$2 million per year in conditional grants to support feasibility studies and related pre-capital activities for wood processing projects.
The WPGF is managed by Te Uru Rākau – New Zealand Forest Service in collaboration with Kānoa – Regional Economic Development & Investment Unit.
Outside of the WPGF, Te Uru Rākau – New Zealand Forest Service can help connect with funding and support programs across government. These include the Sustainable Food and Fibre Futures Fund, NZTE, EECA, MBIE Kānoa, Callaghan Innovation, Green Investment Finance, Waste Minimisation Fund, Scion, Export Credit Office etc.
If you have any questions or would like to discuss making an application, please either email or call: Email [email protected] or NZ freephone call centre 0800 00 83 33.
Or for more information you can visit https://www.mpi.govt.nz/forestry/forest-industry-and-workforce/wood-processing-growth-fund/
