Puro Announces Strategic Investment From Te Rūnanga O Kaikōura

A significant investment from Te Rūnanga o Kaikōura represents a milestone for medical cannabis producer, Puro.

Te Rūnanga o Kaikōura is a papatipu rūnanga of Ngāi Tahu, one of New Zealand's largest iwi and recognised guardians of the land.

The partnership will see Puro and Te Rūnanga o Kaikōura develop a shared vision for responsible resource management that honours tikanga Māori, creates employment opportunities and enhances community wellbeing.

Rāwiri Manawatu, Managing Director of Te Rūnanga o Kaikōura Ltd, is excited about the investment.

“This is an opportune moment for iwi to invest, as it aligns with our commitment to sustainable development and long-term outcomes for our community,” he says.

“We see significant potential in Puro's capabilities and its pathway to export markets, especially given the considerable $13 million investment from the New Zealand government.”

In 2022, Puro was the sole company to receive $13 million, delivered over five years, from the Ministry of Primary Industries’ Sustainable Food and Fibre Futures fund.

Rāwiri says the investment from Te Rūnanga o Kaikōura will enable Puro to expand its production capabilities and explore a contract growing model, allowing for the use of iwi land for cultivation.

“Our investment not only supports Puro’s growth but also emphasises our commitment to values and partnerships that enhance education, employment, and improved land use outcomes for our hapū and iwi. This is a collaborative effort to create a sustainable future for our people, connecting them to their whenua,” says Rāwiri.

Rāwiri adds that the investment represents a holistic approach to business that goes beyond purely monetary returns.

“Our focus is on what we can do for the whenua to sustain both the land and our people. This is about intergenerational thinking, allowing future generations to engage with the plants and the

natural environment. We aim to foster knowledge and a better understanding of our cultural practices, creating healthy communities in the process.”

Puro CEO Sank Macfarlane says the company prides itself on its sustainable and environmental practices.

“We are very proud of our organic products and local rūnanga have been incredibly supportive in our journey and our success to date,” says Sank.

“Their ongoing support reflects a shared vision of promoting the welfare of the community while adhering to tikanga and kawa, the traditional practices and values of tāngata whenua.”

“This partnership is not just a business venture; it is a reaffirmation of the deep connection between iwi and the land, an investment in values, and a collaborative effort to create a thriving community rooted in tradition and sustainability.”

The global legal cannabis market, currently valued at approximately $75 billion, is projected to grow rapidly. The Australian medicinal cannabis market alone is projected to reach $1.15 billion by 2033, growing at a CAGR of 30.1% from 2023.

With increasing demand for medicinal cannabis driven by regulatory reform and rising awareness among consumers and healthcare professionals, Puro is strategically positioned to capitalise on this growth. Puro’s growth is supported by its state-of-the-art production facilities and a commitment to quality.

As Puro continues to forge ahead with its plans, the partnership with Te Rūnanga o Kaikōura will provide, in addition to financial backing, a shared commitment to sustainability, ethical practices, and community development. Together, they will contribute to a more resilient future for New Zealand's medicinal cannabis sector and set a standard for responsible industry practices.

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