Future Post had struggled to get funding before Kiwibank came along with its focus on mixing sustainability and profitability, he says. “If it wasn't for that [Future Post] technology, all that plastic would be going into a landfill. We saw really good economics underpinning a profitable business, but also a really good, sustainable way of doing things for the environment”
Kiwibank’s involvement was also a way to keep the company in New Zealand rather than funding and ownership coming in from overseas. While Future Post currently exports to smaller countries where plastic supply and demand are not great enough to justify a factory, larger countries are likely to see the company’s technology exported there rather than the actual product.
“For Future Post, there's still a lot of demand to be fulfilled in terms of just meeting the New Zealand demand, then perhaps exporting the technology to the world,” Bansal says, adding that, as a B Corp-certified company, Kiwibank has internal expertise in sustainable financing and understanding of such businesses, and the ambition and ability to walk alongside Future Post as it grows.
But the last word should probably go to Wong, who says Future Post plastic posts come in any colour – as long as it’s black, as that is the colour of the additive that keeps them strong and guards against degrading.