High-tech business sparks new industry in New Zealand
13 April 2004

A start-up company that makes high-tech superconducting products is now operating out of Wellington – and it is predicted to ignite a new multi-million dollar industry for New Zealand that could soon take on the world.

HTS-110 began in response to increasing international demand for high temperature superconducting (HTS) products which are new to the world but set to hotly contest markets dominated by products currently using copper and low temperature superconductors.

HTS products are lighter, smaller and more efficient - and with investment from major shareholders including Industrial Research Ltd, Endeavour Capital Ltd and American Superconducting Superconductor Corporation (AMSC) - the company is well positioned to sell these benefits.

This is Endeavour Capital's first investment through their newly formed venture investment fund. The fund was set up in partnership with i-cap Equity Partners and the NZ Governments Venture Investment Fund.

General Partner of Endeavour Capital, Mark Dossor, says they invested in the company because of solid foundations based on over a decade of research collaboration between Industrial Research and AMSC – a world leader in superconducting materials.

" The world-wide market for high temperature superconducting applications is expected to grow substantially and we expect HTS-110 to be a company of international scale in five years time."

HTS-110's CEO, Geoff Todd, says that because their products will be powered by AMSC wire – the top selling HTS wire in the world – HTS-110 will have a particularly strong competitive advantage right from word go.

AMSC's Chief Operating Officer, David Paratore agrees and says they are delighted to enter into a business relationship with the company and believes HTS-110 is well positioned to help expand the market of HTS products around the world.

Geoff Todd says things may never have come this far if it wasn't for initial and substantial investment from the government via the Foundation for Research Science and Technology.

Government support has continued though with New Zealand Trade and Enterprise's (NZTE) Industry Intelligence Specialist, Mark Copsey, identifying HTS as a technology that holds the potential for New Zealand to become a world leader in an emerging market.

"HTS-110 is a crucial first step towards realising this potential as it's the first fully commercial HTS activity in New Zealand. We believe that given the right support this can become the first of many."

HTS-110 will focus on designing and manufacturing HTS magnet systems and components. Initial applications will incorporate eletromagnetics for manufacturers of scientific instruments in the European, US and Japanese markets. Direct customers range from universities, research institutes, and US based companies.