British Environmentalist invests in Windflow

15 May 2001

One of the world's foremost environmentalists, Teddy Goldsmith, has made a substantial investment in the New Zealand wind power company, Windflow Technology Ltd. Mr Goldsmith was founder and first editor of the Ecologist magazine, and remains active in environmental issues. He describes his decision as "a socially responsible investment".

"Windpower is a renewable energy source that New Zealand needs to maintain its clean, green image and to meet increasing demands for electricity," Mr Goldsmith said. "Windflow Technology's advanced wind turbine offers commercial advantages over existing technologies. The company's decision to establish a new industry in New Zealand and Australia is bold and visionary, just what is needed in the 21st century if we are to address such major issues as climate change."

Mr Goldsmith hopes that his decision will inspire others to invest in the company.

"We're thrilled about the international interest our share offer has generated," said company chairman, Dr Neil Cherry. "Teddy Goldsmith's investment demonstrates his confidence in this exciting New Zealand venture."

Windflow Technology is offering two million shares at $1.50 each. The offer closes 1st June.