| DATE OF INVESTMENT | June 2025 |
| LOCATION | New Zealand |
| SECTOR | Renewable Energy |
| STAGE/TYPE OF INVESTMENT | Existing and New Projects |
| IMPACT FOCUS | Climate Change |
| STATUS | Active |
Profile
Pioneer Energy Group Limited Partnership (Pioneer), is a long-established business employing c.200 people.
Pioneer, through its subsidiaries, owns 73MW of hydro and 17MW of wind generation, and has more than 323MW of renewable generation development opportunities.
Pioneer owns an 85% stake in Ecogas, a business that’s leading anaerobic digestion in New Zealand, and through its subsidiary, also owns Pulse Energy, New Zealand’s sixth largest electricity retailer.
Prior to raising equity to fund the expansion of their wind, hydro and anaerobic digestion operations, Pioneer was owned in its entirety by Central Lakes Trust (CLT).
Impact
Pioneer will meaningfully increase renewable energy generation in Aotearoa through wind, supporting the decarbonisation and electrification of our economy. Wind energy has a very short carbon payback period (CPP) – generally accepted to be shorter than that of solar.
Food and other organic waste (industrial sludge, commercial waste, household food and green waste) is a significant problem in New Zealand with much of it going to landfill. Pioneer’s subsidiary, Ecogas, redirects this organic waste from industry and council kerbside collections, processing it via anaerobic digestion to create biogas and biofertiliser.
Transaction Summary
Purpose Capital’s investment in Pioneer was made via a new investment partnership named Tōtara Energy LP (Tōtara), a consortium of Māori investors and impact investors seeking to create a better future through sustainable energy.
The Tōtara investment will accelerate Pioneer’s growth by supporting the development of renewable energy generation in Aotearoa.
Tōtara invested growth capital for a 30% stake in Pioneer.
The Tōtara investors consist of Tauhara North No.2 Trust, Te Ngakinga o Whanganui Investment Trust, Tupu Angitu, Parininihi ki Waitōtara Incorporation, Ngāti Kahungunu ki Wairarapa Tāmaki-nui-a-Rua Investment Trust, Ngati Awa Asset Holdings, Soul Capital, Purpose Capital, K1W1 and Trust Horizon.
The newly formed partnership between Tōtara and Central Lakes Trust will allow Pioneer’s community-focused approach to continue.
