A cleaner, quieter alternative to diesel-powered cranes
When we look at tower cranes populating a city, we often see giant construction devices belching diesel fumes into the skyline.
However, we recognised world-leading technology, a new high-value export, and a big win for the environment, and started backing Cranepower. We can now see a different picture. Founder and engineer Elliot Peacocke has invented a clean, quiet and sustainable power pack for cranes, with no further need for diesel power or large transformers.
Most of the world’s 100,000 tower cranes are diesel powered, with some electrically powered through the grid. Cranepower’s innovation, clear commercial purpose and sustainability caught our attention. There are around 1,000 tower cranes at work in New Zealand and Australia.
Reducing emissions & creating a high-value export
If we can help Cranepower break into this global market and get more units out there, every unit deployed will reduce diesel consumption, lower emissions, and decrease construction-site noise. It’s a positive outcome, both for local communities and the New Zealand economy, with a high-value, high-tech product being exported internationally.
We're in the business of backing innovation, supporting businesses of all sizes, especially those with new ideas who are purpose-driven and are looking to create value or lead positive change.
As history has often proven, many good ideas never come to fruition, but Peacocke was able to pique our interest. The company embodies true Kiwi ingenuity: identifying a problem and building a better solution, making something better than what was there before and that everyone can get on board with.
Backing Cranepower's journey from idea to growth
Kiwibank have been really supportive since day one. For instance, they helped us to finance our rental assets."Elliot Peacocke, Cranepower founder
Cranepower’s power packs were a new type of asset, with demand still emerging. Kiwibank recognised the obvious environmental and commercial benefits and chose to back the company early — support that has been pivotal in its growth.
A major strength of the partnership is the long-standing relationship between Cranepower and the bank. From the earliest concept stages, Elliot worked closely with two Kiwibank business bankers, who have stayed with him throughout the journey. It’s a reminder that knowing your banker — and having a partner who understands your business — truly matters.
Looking for more ways to help your business grow?
Find a business banking specialist
Find a business banking specialist in your area. Request a call back or call them directly.
Find a business bankerCall or email
Call our business banking team on 0800 601 601, or +64 4 803 1646 if you’re calling from overseas.
Hours: Mon – Fri: 8am – 5pm
You can also send us an email.
Call 0800 601 601Sign up for latest news
Sign up for the Kiwi Business Round Up to get the latest business news, insights and tips.
Sign up now