PGF loan for Kawerau health company has threefold impact potential
Published: Feb 3, 2020
- News and announcements
- Bay of Plenty
The economic health of Kawerau; the health of New Zealand’s agriculture industry; and people’s physical health could all improve as a result of a $720,000 loan from the Provincial Growth Fund (PGF) to health supplement company New Zealand Fulvic.
The loan to the small Kawerau-based company, which makes a health tonic using fulvic, will pay for product testing and for the expansion of the plant.
Fulvic acid is a natural product which is used as a supplement. New Zealand Fulvic adds it to natural spring water and bottles it for sale.
The expansion of the plant will lead to at least eight new jobs in Kawerau.
An additional bonus is that the process of extracting fulvic acid from peat seams produces a by-product, liquid humic acid, which can be used for improving animal health, the environment, and the quality of crops and pasture for the dairy, agriculture and horticultural sectors.
Business trials on the use of the liquid humic are underway and are focused on the health of farms, waterways and growing quality crops. Initial trials show a possibility that production of liquid humic acid could create a new industry and more employment as well as having benefits for New Zealand’s agriculture industry.