13 Mar 2014

Super Fund invests $50m in US firm

8:20 am on 13 March 2014

The New Zealand Superannuation Fund has invested another $50 million into a United States based clean energy company.

The fund set up to make investments to help pay for New Zealanders future superannuation entitlements had already put $50 million into Bloom Energy.

The fund says the move will help it take advantage of increasing global demand for energy, and it is actively diversifying into alternative and non-conventional energy alongside its traditional energy investments.

Bloom has headquarters in California and produces on-site power generation systems. The company says its technology produces clean power from renewable or traditional fuels.

Bloom claims its servers are among the most efficient energy generators in the world and are used by the likes of Google, Walmart, e-Bay and the Coca-Cola company.