46 | Fonterra Co-Operative Group - Palmerston North Fonterra advances sustainability at plant “As we focus on delivering the strongest farmer offering, we have announced new funding for farmers with lower emissions milk...” REGIONAL DEVELOPMENT Fonterra has completed a major sustainability initiative at its Palmerston North site with the conversion of an existing coal boiler to a high-temperature heat pump. The system captures wasted heat from the site’s refrigeration process and reuses it for process heat, significantly reducing reliance on natural gas. A solar thermal plant has also been added to boost renewable energy supply. The $10 million project received $425,000 in support from the Government Investment in Decarbonising Industry (GIDI) fund. This upgrade is part of Fonterra’s wider commitment to reduce manufacturing emissions by 30% by 2030, on the pathway to achieving net zero by 2050, and transitioning entirely out of coal use by 2037. In addition to the energy transition work, Fonterra is also progressing supporting infrastructure upgrades at the Palmerston North site, including wastewater improvements, as it continues to invest in long-term sustainability across its operations. Fonterra has also reported a half year Profit after Tax of $729 million, earnings of 44 cents per share and a decision to pay an interim dividend of 22 cents per share, alongside a 2024/25 season forecast Farmgate Milk Price midpoint of $10.00 per kgMS. Fonterra CEO Miles Hurrell says it is pleasing to deliver these results for farmer shareholders and unit holders. “We’re focusing on driving value which includes delivering strong financial performance while achieving the highest sustainable Farmgate Milk Price,” says Mr Hurrell. “At the same time, we’re looking ahead as we implement our strategy and continue to invest for the future. “We have commenced projects to unlock manufacturing production capacity for our Ingredients and Foodservice channels, with site works now underway at Studholme for high-value protein capacity and at Edendale for a new UHT cream plant. “We’re also continuing to invest to future proof our operations and supply chain network, with work underway on a new Whareroa coolstore and plans for decarbonisation projects at Clandeboye, Edendale, Edgecumbe and Whareroa to secure energy supply and reduce the Co-op’s emissions. “As we focus on delivering the strongest farmer offering, we have announced new funding for farmers with lower emissions milk and expanded the Fixed Milk Price programme that farmers can use to get more certainty around the Farmgate Milk Price,” he says. Quality outcomes every time DWYERtech Services Ltd is a supplier of technical and trade services to a variety of commercial industries. Services range from plumbing, gas fitting, drainage, building, planned preventative maintenance, engineering and IQP registered. Drainlayers • Plumbing • Drainage • Building • Engineering An intrinsic value of DWYERtech is the ability to provide expertise across a wide range of trade groups and coordinate them from one central organisation. Our aim is to provide the best result for the client with minimal disruption and stress. 87 Keith Street Palmerston North P 06 356 5607 F 0800 222 060 W dwyertech.co.nz
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