$265m in private investment unlocked through Low Emission Transport Fund

New Zealand businesses have committed $265 million towards low- and zero-emissions transport projects over the past decade, through support provided by the Low Emission Transport Fund (LETF).

Administered by the Energy Efficiency and Conservation Authority (EECA), the LETF was introduced in 2021 as an expansion of the earlier Low Emission Vehicle Contestable Fund (LEVCF), which launched in 2016. EECA today announced the projects approved in the final rounds of the programme – rounds 14, 15, and 16.

Richard Briggs, EECA’s Group Manager – Delivery and Partnerships, said the LETF had played a critical role in accelerating the country’s transition to cleaner transport technologies.

“The programmes demonstrated the benefits for business in making the switch to low or zero-emissions vehicles, machines, and vessels, showing others in their sectors what’s possible and viable,” Briggs said.

“The LETF has unlocked an extraordinary amount of private capital for projects that would not have happened as quickly or at all, as well as lowered organisations’ operating costs by improving energy efficiency and productivity.”

Notable projects supported through the LETF include the world’s first electric milk tanker (Fonterra), electric hydrofoil ferry (Vessev and Fullers360), New Zealand’s first hydrogen-powered truck (NZ Post), and its first electric double-decker buses (Tranzit and Metlink). The fund also backed early adoption of electric supermarket delivery vans and co-funded roughly half of the country’s 1300+ public EV chargers, including the first high-speed DC units by ChargeNet.

With rapid market progress reducing the need for early-stage support, Briggs said the LETF had reached a “natural end”. However, EECA’s support for emissions reduction in heavy transport continues via the Low Emission Heavy Vehicle Fund, which offers grants covering up to 25% of the cost of new zero-emissions trucks or converting internal combustion engine vehicles.

“EECA is New Zealand’s lead agency and expert voice on energy use and we’re continuing to evolve to ensure we’re best placed to support the market,” Briggs said.

 LETF and LEVCF at a glance:

• 17 funding rounds since 2016
• 359 projects approved
• $100.5 million in government co-investment
• $265.5 million in private capital unlocked

 Final rounds (14–16): Highlights from approved projects

Round 16 (Vehicles, Off-road, Marine):

• Beacon Marine and Pahi Oysters: electric oyster barge demo
• Naut Ltd: full electric aquaculture vessel
• Cascade NZ: energy-efficient forklift attachments
• 3i OPCO Ltd: electric excavator for vessel unloading
• Beacon Marine and Explore Group: inboard electric conversion of America’s Cup tour boat

Round 15 (Ports):

• Lyttelton Port: shore-to-ship power and electric sweeper truck
• CentrePort: load control system to support EV fleet electrification
• Port of Tauranga: electric straddle carrier trial
• Port Otago: container movement emissions reduction initiative

Round 14 (Vehicles, Tech, Off-road, Marine):

• Etrucks: Windrose E1400 long-range electric truck
• Port Napier: autonomous electric terminal tractors
• ContainerCo: electric container handler
• Seeka: electric ATVs for kiwifruit orchards
• Green Pacific Shipping: 30-passenger electric foiling ferry
• Rotorua Forest Haulage: electric HPMV truck
• Action Manufacturing: electric refrigerated trailer
• Change Fuel Technologies: hydrogen refuelling truck
• D&H Equipment: electric wheel loader in fertiliser plant
• Kwetta Ltd: EV charger grid optimisation system
• United Civil Ltd: 4-tonne electric excavator demo