We welcome your enquiry

We take great pride in everything that we do, control over products and supply allows us to ensure our customers receive the best quality service. Contact us via the form below or on the following email [email protected] to register your enquiry with us.


Kawerau Project Update – Overseas Investment Office (OIO) approval

09 07 2024

Foresta Group Holdings (ASX: FGH, “Foresta”) is pleased to announce that it has received approval from the Overseas Investment Office (OIO) to lease the Kawerau site. This approval, granted under the Overseas Investment Act, allows Foresta, as an overseas entity, to proceed with the lease.

Ray Mountfort, MD of Foresta Group Holding shares why this milestone is so significant and the roadmap going forward:

New Zealand has regulation that controls overseas investment. This means that some people and entities cannot invest in sensitive New Zealand assets without consent. Foresta is an “overseas person” in terms of the Overseas Investment Act because it is incorporated overseas.

The OIO approval includes specific conditions that Foresta is committed to meeting:

  • Signing of the site lease by 30 June 2026
  • Receipt of necessary resource consents for the plant by 30 June 2026
  • Establishment of business operations by 30 June 2028

The Agreement to Lease (ATL) for the Kawerau site was contingent upon OIO approval and securing project funding. With the OIO decision now obtained, Foresta only requires project funding to finalise the site lease. Foresta is meeting with potential investors to secure the required funding.

“Foresta has achieved significant milestones over the past year, with the OIO approval marking a pivotal achievement. This approval allows us to secure the Kawerau site pending funding.

With supply, offtake, and lease agreements solidified and supported by an exceptional team, we are nearing our goal of revolutionising not only the energy sector with clean energy solutions but also enhancing the forestry industry through sustainable harvesting practices. This project will create employment opportunities within local communities, and we eagerly anticipate forging lasting relationships as we move forward.”

Ray Mountfort, MD Foresta Group Holdings.

Share

Latest News

This approval, granted under the Overseas Investment Act, allows Foresta, as an overseas entity, to proceed with the lease.
Kawerau Project Update – Overseas Investment Office (OIO) approval
09 07 2024
This approval, granted under the Overseas Investment Act, allows Foresta, as an overseas entity, to proceed with the lease.
Foresta at Fieldays 2024
17 06 2024
Last week Foresta participated in Fieldays 2024
Foresta at Fieldays
13 06 2024
$1M Placement to Accelerate Kawerau Biomass Manufacturing Project
23 05 2024
Funds raised under the Placement will be applied to accelerate the torrefied “black” pellets and pine chemical manufacturing facility project in Kawerau, New Zealand.
Latest Interviews and Podcasts
13 05 2024
Ray Mountfort has recently participated in a number of interviews. Catch up on them all here:
Toi EDA forum in Kawerau
06 05 2024
Last week Ray attended a forum held by The Economic Development Agency for the Eastern Kawerau.
Foresta Signs Long-Term Offtake Purchase Contract with AV Pound & Co Limited
29 04 2024
in the relation the supply of 2,000 tonnes per annum of natural wood rosin
Foresta Signs 10 Year Supply Agreement with PF Olsen
29 04 2024
This contractual arrangement represents the supply of 150,000 tonnes per annum of logs, stumps and slash
Planned plant to produce low emissions fuel to replace coal a step closer with agreement to lease Kawerau site
08 04 2024
Agreement to lease signed for Kawerau site
Foresta Signs a Harvesting Contract with Silvertree Biomass Solutions.
25 03 2024
We are thrilled to share that Foresta has signed a significant ten-year Harvesting Contract with Silvertree Biomass Solutions Limited (“SILVERTREE”).
Pine Gold Rush: From Rosin and Terpenes to Invaluable Alternatives, Transforming Industries and Phasing Out Petroleum Dependence
25 03 2024
Pine trees, cultivated globally, are a versatile resource for various products. Beyond providing timber and cellulose for paper production, pine trees yield oleoresin, from which an array of chemical products is extracted.
Forestry Research Updates
15 01 2024
Our forestry team has been hard at work in the heart of the forests
Foresta NZ signs supply contract with Tailored Energy Resources Limited
20 12 2023
Foresta NZ and TER have now signed a binding ten (10) year Supply Agreement to supply up to 65,000 tonnes of torrefied wood pellets per annum
Navigating New Zealand’s Transition from Coal-Fired Boilers to Sustainable Alternatives
21 11 2023
Optimising Forest Ownership: A Comprehensive Approach to Progressive Harvesting and Slash Utilisation
21 11 2023
In the realm of responsible forest management, maximising value for forest owners is not just about harvesting timber but entails a holistic approach.
Placement To Raise $2.333M
06 10 2023
Foresta is pleased to announce that it has received strong interest and firm commitments for a placement of new fully paid ordinary shares
Office Launch In Papamoa
27 09 2023
Foresta celebrated the opening of its company office in Papamoa, New Zealand.
Update from Managing Director
20 09 2023
Shareholder Update from Managing Director
Overview of Rotorua flagship project
29 08 2023
Foresta is pleased to provide a brief overview of our flagship project centred on the construction and commissioning
Foresta signs Term Sheet with Tailored Energy Resources
11 08 2023
Foresta NZ signs Term Sheet with Tailored Energy Resources Foresta Group Holdings Limited
New Technology Patent Filed
28 07 2023
Leaf is pleased to announce the filing of a new technology patent with IP Australia
Quarter Update Ending 30th June Update
18 06 2023
Quarter Update Ending 30th June Update
Appointment of Chairman
25 06 2023
We are pleased to announce that the Board has appointed Mr Pai-Heng (Henry) Cheng as Chairman of Foresta.
Foresta Signs Term Sheet with Ground Base Solutions
13 06 2023
Foresta is pleased to announce that it has signed a Term Sheet with Ground Base Solutions Ltd
Test
01 08 2019
Watch the shareholder webinar recorded on Wednesday November 2nd 2022.