The founder of Windflow Technology, Geoff Henderson, is putting up a $150,000 loan to the company to ensure it doesn't run out of cash.
Mr Henderson says the loan will give the wind turbine company the liquidity it needs through to the end of the month, after extending the deadline to raise $2 million from investors by two weeks to 20 October.
He says $1.3 million has been committed from investors so far, but the turnout at the roadshows to raise the money has been disappointing.
He told Checkpoint, however, that it was never going to be an easy ask, with the country in the midst of the Rugby World Cup and investors facing a lot of uncertainties in the global economic climate at the moment.
Windflow has struggled with a lack of orders, has sold spare parts and is canvassing American firms to license its intellectual property for its turbines in that country.
A special meeting will be held soon after 20 October about the future of the firm and Mr Henderson says his decision to put up a loan signals his belief in the company.
"People are obviously looking askance at us as to: are they ever going to be a commercial success? I'm here to say we've been a technical success, we've got a go-forward plan, we do intend to rebuild value, we've got some promising prospects."
Mr Henderson says he has remortgaged his house to raise the $150,000 loan money.
Listen to more from Geoff Henderson on Checkpoint Business
