Accessing the NZ$57M Wood Processing Growth Fund

As reported, on Thursday 27 April, New Zealand’s Minister of Forestry launched the government’s Wood Processing Growth Fund (WPGF) to unlock the potential of our forest resource, support the transition to a low-carbon future, and improve the economic and social wellbeing of Aotearoa New Zealand.

What is the WPGF?

The WPGF is a NZ$57M package that will support investment in long-lived wood products processing through two components:

1. The Catalyst will provide a long-term programme of around NZ$3m per year of grant provisions to co-invest in feasibility studies, business cases, research and other capital-enabling activities.

1. The Accelerator will provide NZ$45m over two years to co-invest in capital investments through provision of debt or equity finance.

It is expected that applicants will provide at least 50% of the proposal cost to co-invest with government.

What are the key timeframes for accessing the WPGF?

Both the Catalyst and Accelerator components will be open for applications from 3 July 2023.

The Catalyst is open-ended, so you can apply at any time. Catalyst is intended to help applicants assess the feasibility and business case for an investment, reducing the cost and risk of investment and creating a pipeline for Accelerator investments.

The Accelerator will be run in three investment rounds. For Round One, the Accelerator will be open from 3 July 2023 and close on 17 July 2023. Applications will be assessed and decisions made shortly afterwards.

Accelerator Rounds Two and Three will take place over 2024 and 2025.

How can I find out more information?

Full details are published on the MPI website here.

Source: Te Uru Rākau – New Zealand Forest Service