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Te Rūnanga o Kaikōura and Medicinal Cannabis producer Puro partner for regional benefit

Business

Joe Shaw
Cannabis plants.
Cannabis plants.   PURO // SUPPLIED

Medical cannabis producer Puro has received investment from Te Rūnanga o Kaikōura, a papatipu rūnanga of Ngāi Tahu.

Puro Executive Chair, Tim Aldridge told Metro News the partnership made sense from the beginning.  

“The partnership initiated from the very outset of the business."

“We've established a strong relationship with our entire community, but especially our iwi."

“Throughout this year we’ve been working closely with the business side of the Iwi, and they’ve completed considerable due diligence with the support of Ngai Tahu and determined that investment into Puro was in the benefit of the region.”  

Part of the partnership is for Puro and Te Rūnanga o Kaikōura to develop a shared vision in resource management, honouring tikanga Māori whilst creating new employment opportunities.  

From left: Puro CEO Sank Macfarlane, Kaihautū Pakihi Business Manager Che Pauro, Rūnanga o Kaikōura managing director Rawiri Manawatu, and Puro COO Winston Macfarlane.
From left: Puro CEO Sank Macfarlane, Kaihautū Pakihi Business Manager Che Pauro, Rūnanga o Kaikōura managing director Rawiri Manawatu, and Puro COO Winston Macfarlane. PURO // SUPPLIED

Rāwiri Manawatu, Managing Director of Te Rūnanga o Kaikōura Limited, says he’s excited about the investment.  

“It aligns with our commitment to sustainable development and long-term outcomes for our community,"

“Our investment not only supports Puro’s growth but also emphasises our commitment to values and partnerships that enhance education, employment, and improved land use outcomes for our hapū and iwi. 

He says this is a collaborative effort to create a sustainable future for our people, connecting them to their whenua.

Medicinal cannabis outdoors.
Medicinal cannabis outdoors. PURO // SUPPLIED

Aldridge says they’ve established with the iwi a cadetship programme, opening up the door for cadets in the local community to work in either management or conavation roles in the business later down the track.  

He also adds that they’re ready to work further with iwi.  

“There are other rūnanga that are considering investment. We are in discussions, although it’s not likely to be a necessary and immediate proposition. The ideal outcome here is the knowledge and learnings Puro has adopted and cemented, particularly with the MPI,”  says Aldridge.

He’s referring to the Ministry of Primary Industries’ Sustainable Food and Fibre Futures Fund, which Puro was the sole recipient of in 2022.  

That fund gave the company $13 million, which is being delivered to them over a five-year period.  

Tim Aldridge.
Tim Aldridge, Executive Chair at Puro. PURO // SUPPLIED

“The outcomes from that are it’s allowing Puro to establish a contract growing model,” Aldridge said.  

“So, it allows other growers to learn from our knowledge, IP and use that to increase production, so we can take these products to global markets.”  

“The ideal outcome for that is to be achieved across iwi land, doesn't mean it’s restricted to iwi land, but it’s just an ideal outcome for us.”  

The fund so far has gone towards their technology, including a new drying system called live drone, which helps to sustain plants grown in their outdoor facility.  

Globally, the legal cannabis market is valued at around $75 billion, with projected growth set to be rapid.  

In the Australian market alone, it’s expected to reach a projected $1.15 billion in 2033, a compound annual growth rate of 30.1% from 2023.  

Law was amended in July to allow medicinal cannabis growers to only meet the standards of the countries they are importing to, rather than meeting that of New Zealand standards.