MEDIA RELEASE
For Immediate Release
4 October 2012
Chief Executive takes on new challenge at Waikato Innovation Park
Hamilton, New Zealand - After nine years at the helm of New Zealand’s only agri-focused technology park, the chief
executive of the Waikato Innovation Park is taking on his biggest challenge yet.
Derek Fairweather is leaving his chief executive seat at the Park to head up Dairy SolutioNZ full time.
Dairy SolutioNZ was the brainchild of Fairweather and was established six years ago, born out of the desire to take the
world’s best farming technologies and practices - many of them from New Zealand - to regions experiencing food crises.
Dairy SolutioNZ was formerly a wholly owned subsidiary of the Park. However, the business has been spun out as a
stand-alone entity. Waikato Innovation Park retains 25% ownership, while Mr Fairweather has also stumped up with a 25%
personal investment.
Fifty percent ownership of Dairy SolutioNZ is being held in trust, awaiting a major investor whom Fairweather is tasked
with courting and securing.
Chairman of Waikato Innovation Park, Michael Spaans, says there’s no one better suited than Mr Fairweather for taking on
the challenging role.
“In Derek’s nine years as CEO, he has led a team who has established Australasia’s only technology park solely focused
on growing agri-technology businesses. He built up the Park from nothing but a bare paddock and, he tells me, only
$30,000 in the bank account. The Park now has $30 million on its balance sheet, which is a position largely attributable
to Derek’s leadership.
“We currently have approximately 50 businesses employing around 450 staff on our campus. During Derek’s tenure, the Park
has expanded three times, plus we’ve built New Zealand’s only independent product development spray dryer. There is a
long list of accomplishments Derek should be proud of and which our board acknowledges he’s achieved.
“Derek has a passion for Dairy SolutioNZ’s mission and the board has full confidence that he can gain the private
investment that is required to drive it forward,” explains Mr Spaans.
Over the past four years, Dairy SolutioNZ staff has become experts at designing and adapting new farming and dairy
supply models with the purpose of satisfying food product demand for consumers in countries such as USA, Colombia, and
the Ukraine.
The team is working closely with Governments and major land owners around the world, proposing solutions for large
farming operations that provide high volume, high quality, reliable meat and milk products delivered through modern,
highly productive farming and dairy systems.
Derek says several of the projects are in the process of being signed off by Dairy SolutioNZ’s clients.
“The projects we are developing are substantial. Many are on the sort of scale that involve milking 50,000 cow herds
using New Zealand technology. Plus, we’re proposing solutions to implement sustainable forage methods to feed the
animals, build processing factories to make products to feed local people, etcetera.
“Because the projects we’re working on are large, the time it takes to approach and develop a partner, through to when
we can sign an agreement takes many years.
“Securing private investors is my top priority. Gaining the investment in New Zealand is a major challenge, but I’m up
for it because I know we’re onto a winner here. That’s why I’m willing to put my own personal funds on the line to make
it happen,” says Mr Fairweather.
Mr Fairweather is currently in discussions with interested private investors both within New Zealand and overseas.
Waikato Innovation Park received a $2 million grant from the Ministry of Economic Development in 2008, which was used to
develop the Dairy SolutioNZ business proposition. All Government funding has now ceased.
In July, the Waikato Innovation Park had announced that a capital raising exercise for the entire business, which was
kicked off in May 2011 and led by Eden AgriCapital Ltd, was unsuccessful.
Stuart Gordon has been appointed to the role of interim Waikato Innovation Park CEO. For the past four years, Mr Gordon
has worked for Dairy SolutioNZ as Global Development Director. Mr Gordon formerly held the role of CEO of Livestock
Improvement Corporation from 1998-2006.
-ENDS-