NZ Frost Fans is looking to expand in offshore horticulture markets. Photo / Warren Buckland
NZ Frost Fans is looking to expand in offshore horticulture markets. Photo / Warren Buckland
Hastings-based New Zealand Frost Fans is looking to expand.
The company, which has developed technology to protect horticulture crops from cold weather, has become a leader in its field in Australia and New Zealand, and is now looking to Europe and South America for future growth.
Chief executive Steve Haslettsaid the company's customers "de-risk" their crop yields by eliminating losses from frost damage.
In the current financial year revenue has increased to more than $40 million as growers seek reliable and proven ways to protect their crops from weather events, he said.
With frost fans still in a relatively early stage of market penetration, the business has also firmly established itself as one of the top three players internationally.
"We see huge growth opportunity in front of us, particularly in places like Europe and South America where climate change is increasingly delivering more extreme weather events and damaging frosts," Haslett said in a statement.
Haslett said there were opportunities closer to home – particularly in Australia, where frost protection systems still make up only around 3 per cent of the target crop area, estimated to be around 300,000ha.
NZ Frost Fans operated out of an apple packing shed in Hastings when Haslett purchased the business in 2007.
He then set about creating a state-of-the-art fan system with help from experts, including a key America's Cup research engineer, to create highly efficient and aerodynamic composite blades.
New Zealand Frost Fans now employs around 60 people at its manufacturing plant in Hastings.
In 2012, through an acquisition, it opened an Australian business - Australian Frost Fans - which now represents around 60 of new sales.
