Purpose Capital syndicate ups total Lodestone investment to $17.4m

Sheep can safely graze at Lodestone Energy's Kaitaia solar farm. (Image: Lodestone Energy)

Wed, 10 Apr 2024

Purpose Capital is investing heavily in solar power but that isn’t stopping its founder and executive director Bill Murphy from calling for stronger action on addressing climate change.He told BusinessDesk that New Zealand couldn’t build enough solar power to keep us living as we do.A syndicate led by Purpose Capital has invested an additional $7.4 million into Lodestone Energy, bringing its total investment in the solar power generator to $17.4m. The investment marks the completion of a series C capital raise of $55m for...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Policy

EPA head quits with fast-track changes

The latest fast-track reforms go far beyond supermarket resource consenting.

Pattrick Smellie and Dileepa Fonseka 5:00am

Markets

Sharesies founders sell down

Global tech investor Rahul Mehta appears on the register for the first time.

Pattrick Smellie 5:00am

Self promotion

BusinessDesk appoints Jaime Lyth

BusinessDesk continues to grow.

Staff reporters 5:00am

Sponsored

Health insurance proving a valuable negotiating tool for Kiwi businesses

More employers see health insurance as key to staff wellbeing.

Moneyfit

Sponsored

Move-in ready offices: How business are rethinking workspace

Businesses want agility – and office space is evolving fast

Sponsored by Precinct Properties

More Energy

News in Brief

Genesis gets fast-track greenlight for Tekapo power scheme

Genesis Energy has received fast-track approval to continue operating and maintaining the Tekapo hydro power scheme.It lodged the fast-track application in April 2025 for the scheme, which includes Tekapo A and B power stations and substations, and the canal system. Genesis has o...

Staff reporters 03 Nov 2025