Former Reserve Bank Governor Adrian Orr joins high-tech green innovator NZ Bio Forestry to assist in leading its global expansion and international capital raising.
Orr left the Reserve Bank of New Zealand in March, before completing his five-year term. Although the departure was originally called a “personal” decision, it was later disclosed that disagreements over budget limits and operational independence were underlying factors.
Orr joined the green technology company to support NZ Bio Forestry’s goal of expanding sustainable alternatives to fossil fuels.
Alongside Orr was Simon Tyler, former chief executive of the Government Superannuation Fund Authority and the National Provident Fund.
NZ Bio Forestry has created integrated wood engineering and biorefinery facilities that transform plantation forestry biomass into biochemicals, bioplastics, biofuels, and biomaterials. The company said its technology has the potential to decrease dependence on fossil fuels while opening up higher-value market opportunities for New Zealand’s forestry industry.
“Adrian and Simon’s global fund, investment networks and banking experience, plus their leadership, will help us accelerate partnerships and investments that deliver real alternatives to fossil fuels,” NZ Bio Forestry chief executive Wayne Mulligan said.
Orr and Tyler have already played a key role in securing two major international deals—with Pegasus Capital Advisors, a US-based private equity firm accredited by the Green Climate Fund, and PanCycle, a global investor specialising in circular economy solutions.