Under the 10-year deal, Vodafone will become Pacific Fibre’s biggest New Zealand customer.

Vodafone CEO Russell Stanners says Pacific Fibre is bringing much needed competition to the international bandwidth market.

“By partnering with an innovative, entrepreneurial business such as Pacific Fibre, we’re helping to break down the digital divide between New Zealand and the rest of the world.

“This deal will allow us to scale our customer offers over the next 10 years delivering the quality and quantity of capacity that our customers need now and into the future.

“This will help us to support New Zealanders’ online ambitions by making sure they can confidently connect to the world and the world can confidently connect to New Zealand.”

Mark Rushworth, Pacific Fibre CEO, says the Vodafone deal is its biggest to date, coming hard on the heels of a contract with REANNZ.

“Foundation customers such as Vodafone and REANNZ have championed the cause of ensuring international bandwidth competition.  Their commitment will have a direct impact on bringing faster service and better rates to the region, helping to break the monopoly on capacity pricing into and out of New Zealand”.

Sir Stephen Tindall, Pacific Fibre co-founder, says building Pacific Fibre moves us closer to the US market.

“It’s like parking New Zealand off the West Coast of America, removing the tyranny of distance.  It will help foster future innovation and greater economic development for New Zealand.”

Pacific Fibre’s undersea cable system will connect Australia to New Zealand, then to the USA and is scheduled to be launched by early 2014.

ENDS

For more information please contact:

Matt East

Vodafone NZ

matthew.east@vodafone.com

+64 21 897 647

Mark Rushworth
Pacific Fibre CEO

mark.rushworth@pacificfibre.net

+64 21 244 0777

+64 9 2153308

About Pacific Fibre

Pacific Fibre was founded in 2010 and is intending to construct one of the longest and most technically advanced undersea cable systems. The Pacific Fibre cable will connect Australia and New Zealand to the United States, using leading and proven industry technology to achieve the fastest and most efficient route. Employing 40G technology, Pacific Fibre’s cable will, upon installation, deliver 10.24 Tbt/s of design capacity and, like all modern cable systems, should be capable of significant future increases in design capacity. Pacific Fibre is headquartered in Auckland, New Zealand. 

Being an always-connected personality the first thing I did was to get an Internet connection into our apartment. I chose WebPass because they offer extremely high speed connections (100Mbps synchronous) to certain buildings in the City and our building happened to be on the list (similar to CityLink back in Wellington). (I actually used Yelp to help me choose – services like Yelp that back in NZ don’t have the critical mass are absolutely essential when you’re in the US).

WebPass is $45 a month with no contract (or $400 for a year) – it’s cheaper than power!

I was connected in minutes and then the first thing I asked the technician was about “data caps”. It wasn’t the New Zealand accent that threw him – it was the term. “No data cap – unlimited – have fun!” he said. The first thing you notice with very fast, unlimited Internet access is how much freedom you have. No worrying about a massive over-charging on my bill – I’ve paid for the year so I have no bills!

From a consumer perspective this opens up a wide range of options. Obviously online gaming has no limits – but it’s television where the most disruptive changes are. Back in NZ I was investing cable providers. But with unlimited, fast Internet I bought an HDTV from Amazon with built-in WiFi and preloaded with apps. Yes – a TV with apps such as Hulu, Netflix and MLB.TV (I’m a big New York Yankees baseball fan). These apps stream high definition television over WiFi. I haven’t even bothered with cable yet – I’ve got everything available right there!

Obviously it helps that the content is so readily available – but I think half the reason it’s available is because it’s accessible. Making it available in New Zealand right now would be irresponsible as the cost to consumers is so prohibitive.

Now I can’t just watch TV all day – I am supposed to be working. And working is where I’ve found the biggest benefit. At home and at work the Internet is fast. Very fast. So my productivity has immediately increased. Everything I do for Xero requires access to the Internet in some form and now it’s almost instant – in fact I would argue it is instant. The productivity gains as a technology worker are massive. Free WiFi is in abundance in the US – both in coffee shops and hotels. This is also fast and unmetered – remote working is a lifestyle choice here and a choice that’s readily available.

My wife has also noticed the difference – as Xero’s Community Manager she is online as close to 24/7 as she can get. All her devices are now connected and connected constantly. Her job is easier and she’s more productive because the infrastructure is built for her kind of job – online and real-time. And at home she’s even more ecstatic! When she wants to upload photos of our new home town to Flickr it’s an instant process – in NZ uploading 50 photos would have taken minutes – long enough for her to have to go away and do something else – now it takes seconds.

Unfortunately the Internet back home still gets in the way. As a remote worker I have a team back home that I am in constant contact with. I can make Skype calls to US phones and the clarity is perfect – Facetime is awesome. But calling back to New Zealand still lags. I know it’s not me!

I always saw the need for the Pacific Fibre project because I understood the impact of fast, ubiquitous and cheap Internet in New Zealand. But it’s so radically different in the US right now Pacific Fibre is an imperative just to compete on a level playing field. How can technology firms in New Zealand expect to compete on a global scale when there is such a massive bandwidth divide? Pacific Fibre is not a nice-to-have – it’s a mission critical requirement for all New Zealand businesses.

Pacific Fibre has signed a definitive agreement with iiNet for the

supply of international capacity on the Pacific Fibre cable system.

Pacific Fibre’s CEO, Mark Rushworth said he was very pleased to

have Australia’s second largest DSL broadband provider on board

as a foundation customer.

“We look forward to supporting iiNet’s ongoing success by

ensuring that they can deliver a faster service and more cost

effective solutions to their customers,”  Mr Rushworth said.

iiNet’s CEO, Michael Malone said this would benefit

customers by providing greater capacity on some of the busiest

international routes for Internet traffic.

“As a foundation customer with Pacific Fibre, our customers

will enjoy some of the fastest paths when accessing international

content both now and well into the future” Mr Malone said.

“We have always supported competition in the International cable

space, and the additional capacity and choice Pacific Fibre is

delivering can only be good for both our business and the

industry in general.”

Pacific Fibre’s undersea cable system will connect Australia

to New Zealand, then on to the USA. It is scheduled to be in

commercial service by early 2014.

ENDS

For more information please contact:

Mark Rushworth,

Pacific Fibre CEO

mark.rushworth@pacificfibre.net

+64 21 244 0777,

+64 9 2153308

About Pacific Fibre:

Pacific Fibre was founded in 2010 and is intending to

construct one of the longest and most technically advanced

undersea cable systems.

The Pacific Fibre cable will be the longest, and most

technically advanced trans-°©‐oceanic cable in the world.

The Pacific Fibre cable will connect Australia and New

Zealand to the United States, using leading and proven industry

technology to achieve the fastest and most efficient route.

Employing 40G technology, Pacific Fibre’s cable will, upon

installation, deliver 10.2 Tb/s of design capacity with

100G upgradability to 12.8Tb/s.

About iiNet:

iiNet is Australia’s second largest DSL Internet Service

Provider (ISP) and the leading challenger in the

telecommunications market. iiNet employs approximately

2000 inquisitive staff across four countries and support over

1.3 million broadband, telephone and Internet

Protocol TV (IPTV) services nationwide.

12,750km System Will Set Record for Cross Sectional Capacity, Support Increasing Capacity Demands in Australia and New Zealand

AUCKLAND, NEW ZEALAND and MORRISTOWN, NJ, USA – July 18, 2011 – Pacific Fibre and TE SubCom, a TE Connectivity Ltd. company (NYSE: TEL) and an industry pioneer in undersea communications technology, today announced the signing of a supply contract for the Pacific Fibre undersea cable system. The exceptionally long system will stretch 12,750km and boast a significantly higher cross sectional capacity than any other trans-Pacific cable.

Intended to meet the increasing demand for international bandwidth in Australia and New Zealand, which has been growing at a rate of 55 percent per year, the Pacific Fibre system is planned for completion in 2014. The two-cable system will link Australia and New Zealand via a trans-Tasman cable, while connecting New Zealand to the United States via a trans-Pacific cable. The cable landing points will be in Sydney, Australia; Auckland, New Zealand; and Los Angeles, California in the United States.

“Demand for international capacity in Australia and New Zealand is sharply increasing and is on track to continue growing for years to come,” said Mark Rushworth, CEO, Pacific Fibre. Mr. Rushworth continued, “The Pacific Fibre cable will not only provide unsurpassed high speed international connectivity to satisfy the growth in broadband demand, but it will also help Australia and New Zealand realize the potential of both countries’ multi-billion dollar broadband initiatives.”

Mike Constable, Director of Business Development, who led the vendor selection and negotiations added, “We look forward to working with TE SubCom, and are confident that the company’s leading 40G and 100G technology, coupled with itsextensive experience and marine capabilities will enable us to successfully implement and deliver this landmark project by the scheduled launch in the first quarter of 2014.”

Upon completion, the Pacific Fibre system will be the highest-capacity-per-fiber- pair system ever built. The cables will each have two fiber pairs, with an ultimate cable design capacity of 12.8 Tbps.

“We are pleased to join forces with Pacific Fibre to construct the longest trans- Pacific system and look forward to seeing the significant benefits that Pacific Fibre’s cable will bring to the region,” said David Coughlan, President of TE SubCom. “The system will be built with our advanced technology and will enable Pacific Fibre to deliver much-needed international connectivity between Australia, New Zealand and the United States in the immediate future and to continually support the region’s ever-growing international demand.”

About Pacific Fibre

Pacific Fibre was founded in 2010 and will deliver the longest and most technically advanced undersea cable systems linking Australia, New Zealand and USA. Pacific Fibre is headquartered in Auckland, New Zealand. The Pacific Fibre shareholders include a number of successful entrepreneurs with proven track records, including Sam Morgan, Rod Drury, Sir Stephen Tindall, David Kirk MBE, and early Facebook investor Peter Thiel.

For more information visit www.pacificfibre.net.

About TE SubCom

TE SubCom, a TE Connectivity Ltd. company, is an industry pioneer in undersea communications technology and marine services and a leading global supplier for today’s undersea communications requirements. Drawing on its heritage of technical innovation and industry recognized performance, TE SubCom delivers the most reliable, high quality solutions to organizations with undersea communications needs vital to their core mission. The company designs, manufactures and installs systems around the world, and has deployed more than 490,000km of subsea communication cable—or enough to circle the earth more than 12 times at the equator. TE SubCom’s global presence, backed by industry leading research and development laboratories, manufacturing facilities, installation and maintenance ships, depots, and management team work together to implement integrated solutions and network upgrades, with unsurpassed reliability, that support the needs of telecommunications, internet providers, offshore and science customers worldwide.

For more information visit www.SubCom.com.

About TE Connectivity

TE Connectivity is a global, $12.1 billion company that designs and manufactures over 500,000 products that connect and protect the flow of power and data inside the products that touch every aspect of our lives. Our nearly 100,000 employees partner with customers in virtually every industry — from consumer electronics, energy and healthcare, to automotive, aerospace and communication networks — enabling smarter, faster, better technologies to connect products to possibilities. More information on TE Connectivity can be found at http://www.te.com/.

###

REANNZ and Pacific Fibre announced today that they have signed a $91 million definitive agreement for the supply of international capacity on the new Pacific Fibre cable system. The agreement was approved by the REANNZ board and by shareholding Ministers Hon Bill English and Hon Dr Wayne Mapp.

Donald Clark, outgoing REANNZ CEO, said “We are very happy to have completed the negotiations, marking substantial and rapid progress from the Key Commercial Terms announced in May. The contract sets REANNZ and KAREN up for lasting success, and is a critical part of delivering long-term unconstrained high performance networking for the research, education and innovation communities in New Zealand.”

REANNZ, which was founded by the Crown in 2005, has 129 memberorganisations with connections at 186 sites across New Zealand. The international capacity agreement will secure their ability to fully participate as part of a global network of over 100 research and education networks.

Mark Rushworth, CEO of Pacific Fibre confirmed the importance of the REANNZ commitment to the Pacific Fibre project. “Announcing the REANNZ Key Terms in May gave important momentum to our engagement with our vendors, finance partners and other foundation customers. While today’s news marks another important step, we have also made considerable progress across the board. We want to thank REANNZ and all concerned for conducting a very smooth, fair and rapid tender and negotiation process. It showed how a well-run Government procurement process can support businesses such as ours, and we are offering considerable value to the KAREN community as a result.”

For more information please contact:

Donald Clark
REANNZ CEO donald.clark@reannz.co.nz
+64 4 913 1093

Mark Rushworth
Pacific Fibre CEO mark.rushworth@pacificfibre.net
+64 21 244 0777, +64 9 215 3308

About REANNZ

REANNZ (Research and Education Advanced Network New Zealand Ltd) is the Crown-owned company that owns and operates the high-speed, unrestricted broadband network for the New Zealand education, research and innovation communities – KAREN (Kiwi Advanced Research and Education Network).

REANNZ acts as an expert purchaser of networks and services. As a not-for-profit membership organisation, we work on behalf of our community for the good of our community, aggregating demand to procure the best and most cost effective networks and services from the market to meet their specialist needs. REANNZ currently connects 129 members at 186 member sites.

www.karen.net.nz.

About Pacific Fibre

Pacific Fibre was founded in 2010 and is intending to construct one of the longest and most technically advanced undersea cable systems. The Pacific Fibre cable will connect Australia and New Zealand to the United States, using leading and proven industry technology to achieve the fastest and most efficient route. Pacific Fibre’s base case cable will, upon installation, deliver 5.12 Tbt/s of design capacity and, like all modern cable systems, should be capable of significant future increases in design capacity. Pacific Fibre is headquartered in Auckland, New Zealand. The Pacific Fibre shareholders include a number of successful entrepreneurs with proven track records, including Sam Morgan, Rod Drury, Sir Stephen Tindall, David Kirk MBE, and early Facebook investor Peter Thiel.

REANNZ announces capacity agreement with Pacific Fibre

REANNZ and Pacific Fibre agree key terms for a long-term, ground-breaking international capacity service for the NZ research, education and innovation communities

REANNZ and Pacific Fibre announced today that they have agreed Key Commercial Terms for a substantial contract to supply international capacity on the new Pacific Fibre cable system.

Donald Clark, REANNZ CEO, said “We are excited to secure an anchor tenancy providing long-term capacity for the research, education and innovation communities in New Zealand.  Pacific Fibre will provide us with effectively unconstrained capacity to Australia and the USA from mid-2014, allowing us to collaborate with the rest of the world on an equal footing.”

REANNZ is investing its own operational funding, along with NZ$15 million that the Crown granted to support a capacity purchase on a new submarine cable system.  This commitment is a result of a recent, open tender process.

Pacific Fibre’s CEO Mark Rushworth said “REANNZ is our first announced customer, and we are delighted to be working with the REANNZ team and the KAREN community. We couldn’t be more aligned with their goals. We are helping REANNZ offer extremely high capacity connections to the community, and that capacity will grow over time. The proposal also more than meets the Crown’s requirement for one new cable — as we will be providing two.”

The deal will see the amount of capacity available to KAREN subscribers rise from today’s 1Gb/s to an initial 40Gb/s and then to 160Gb/s over time.  This step change is possible due to the superior economics of the new cable system and through restricting the use of the capacity to the KAREN community.

“At current market rates, the value of the capacity commitment is over NZ$400 million, though obviously we are paying far less than that,” said Donald Clark.  “This is a long term commitment, and one that recognises our support for the Crown’s policy goals of increased international cable competition at the right stage in the market process.”

REANNZ and Pacific Fibre are now negotiating a final contract based on the signed Key Commercial Terms.  As with all major transactions REANNZ enters into, this process will be subject to the approval of REANNZ shareholders.

Neither party is disclosing additional information about the deal until contracting is completed.

For more information please contact:

Donald Clark
REANNZ CEO
donald.clark@reannz.co.nz
+64 4 913 1093

Mark Rushworth
Pacific Fibre CEO
mark.rushworth@pacificfibre.net
+64 21 244 0777
+64 9 215 3308

About REANNZ
REANNZ (Research and Education Advanced Network New Zealand Ltd) is the Crown-owned company that owns and operates the high-speed, unrestricted broadband network for the New Zealand education, research and innovation communities — KAREN (Kiwi Advanced Research and Education Network).

REANNZ acts as an expert purchaser of networks and services. As a not-for-profit membership organisation, we work on behalf of our community for the good of our community, aggregating demand to procure the best and most cost effective networks and services from the market to meet their specialist needs. REANNZ connects over 110 members at more than 150 member sites.

About Pacific Fibre
Pacific Fibre was founded in 2010 and is intending to construct one of the longest and most technically advanced undersea cable systems. The Pacific Fibre cable will connect Australia and New Zealand to the United States, using leading and proven industry technology to achieve the fastest and most efficient route. Employing 40G technology, Pacific Fibre’s cable will, upon installation, deliver 5.12 Tbt/s of design capacity and, like all modern cable systems, should be capable of significant future increases in design capacity. Pacific Fibre is headquartered in Auckland, New Zealand. The Pacific Fibre shareholders include a number of successful entrepreneurs with proven track records, including Sam Morgan, Rod Drury, Sir Stephen Tindall, David Kirk MBE, and early Facebook investor Peter Thiel.

27 April 2011.

Pacific Fibre appoints Bank and Investment Banks

“ANZ is delighted to be a part of the development of this critical infrastructure connecting Australia and New Zealand to the United States, and has been a supporter of the project from the early stages”, said David Green, ANZ New Zealand Managing Director, Institutional. The bank’s Executive Director for Institutional Relationships, John Vetter, added “We are very happy to be supporting Pacific Fibre. Our mandate is to raise the debt portion of the US$400 million project on a project finance basis, and as Lead Arranger we intend to provide a significant portion of the required financing while also arranging for other qualified Australasian and international banks to join in this financing.”

Scott St John, CEO of First NZ Capital, is also a strong supporter, saying “The project is crucial to the development of Australasia’s infrastructure, strategic to the region’s ongoing competitiveness, and well-timed for corporates and consumers. We are seeing good support for equity investment into solid long-term infrastructure projects like this. We expect to present this to selected investors shortly.”

Pacific Fibre’s recent tender release has accelerated global interest. CEO Mark Rushworth said “We are pleased to be working closely with top financial firms ANZ, Credit Suisse and First NZ Capital.  ANZ have demonstrated their passion for the project and have an impressive balance sheet that will facilitate our fund raising. Credit Suisse’s role is also important. Their global reach and outstanding Australasian team, including local partners First NZ Capital, gives us access to the broadest possible range of equity investors.” Mr. Rushworth continued, “Pacific Fibre’s undersea cable system will unleash the potential of the Australian NBN and New Zealand UFB/RBI projects. It will provide the fastest path to the United States with the most competitive cost basis and help Australia and New Zealand meet the ever-increasing demand for international voice, data and Internet content.”

Ends.

For more information please contact:

Mark Rushworth
Pacific Fibre CEO mark.rushworth@pacificfibre.net +64 21 244 0777, +64 9 2153308

About Pacific Fibre

Pacific Fibre was founded in 2010 and is intending to construct one of the longest and most technically superior undersea cable systems. The Pacific Fibre cable will connect Australia and New Zealand to the United States by utilizing the industry’s most advanced and proven technology, achieving the fastest and most efficient route. By employing 40G technology, Pacific Fibre’s cable will, upon installation, deliver 5.12 Tbt/s of design capacity and, like all modern cable systems, be capable of significant future increases in design capacity. Pacific Fibre is headquartered in Auckland, New Zealand. The Pacific Fibre shareholders include a number of successful entrepreneurs with proven track records, including Sir Stephen Tindall, and early Facebook investor Peter Thiel.

About Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high‐net‐worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 50,500 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit‐suisse.com.

About ANZ

ANZ is one of the largest international banks in the Asia Pacific region with assets of AU$532 billion and a long-term credit rating of AA (Standard & Poor’s). ANZ has one of the Asia Pacific’s broadest integrated debt origination and distribution networks, providing access to more than 500 investor accounts across the region. ANZ currently ranks number one in the Asia-Pacific ex-Japan loan arranger league tables in terms of number of issues (source: Thomson Reuters, 2010), and is also a leading regional ECA debt arranger.

About First NZ Capital

First NZ Capital is a leading full service, wholly New Zealand owned, share broking and investment banking firm.  It was formed in 2002 through an employee buyout of Credit Suisse Group’s New Zealand operations, but has been active in the New Zealand market under other names for 50 years.  It has a formal strategic alliance with Credit Suisse, a relationship that has existed for 20 years.  First NZ Capital has been awarded best NZ investment bank by FinanceAsia for the past two years, and INFINZ sharebroker of the year for the past three years.

Mike Constable, Director for Business Development, responsible for leading the build of the cable system, said  ”This is a significant milestone in the project development phase and shows the momentum Pacific Fibre has built towards achieving its goal. The 450 page document reflects the considerable work we have put into the design and configuration of the cable system and provides the basis of the contract which we expect to execute with a selected vendor in the third quarter this year.”

The Invitation To Tender was sent to established leaders in the submarine cable system supply industry.  Vendor responses are due in mid-May with contract negotiations expected to commence with a preferred vendor soon after.

Pacific Fibre CEO Mark Rushworth said  ”We are delighted with the experience and progress that Mike and his team of experts have brought to Pacific Fibre to drive forward the cable design and build process.”

Mark also confirmed today that Pacific Fibre is building the cable alone. “A joint build Memorandum of Understanding expired earlier this year, freeing us to move ahead more quickly. We have been assuming a solo-build system for several months now and remain firmly on track to finance and deliver the system in 2013. Our proposed design greatly expands capacity for carriers and multi national businesses, and provides much needed diversity for the region.”

Ends.

For more information please contact:

Mark Rushworth
Pacific Fibre  CEO mark.rushworth@pacificfibre.net +64 21 244 0777, +64 9 2153308

About Pacific Fibre

Pacific Fibre was founded in early 2010 and aims to build a new fibre optic cable between Australia, New Zealand and the USA. The company directors and investors include Sam Morgan, Stephen Tindall, Rod Drury, David Kirk, Bill Day, Craig Winkler and Peter Thiel.

Pacific Fibre raises $5.5 million, Peter Thiel and NZTE on board

Pacific Fibre, who intend to build a fibre optic cable connecting Australia and New Zealand to the USA, today announced that they had closed their fourth round of financing raising over NZ$5.5 million. The existing external investors all contributed to the subscription round, while San Francisco investor Peter Thiel’s New Zealand investment vehicle Valar Ventures LP also entered the shareholder list.

Mr Thiel co-founded and was CEO of PayPal, and is committed to helping New Zealand technology companies through Valar Ventures. This is Valar Ventures’ second investment in New Zealand, following a $4 million placement with Xero in late 2010.

“Pacific Fibre is strategically significant to the growing technology industries in New Zealand and Australia”, said Peter Thiel. “The company offers a strong proposition to investors, and we look forward to the successful financing of the project.”

“We very happy to have Peter and the team at Valar Ventures on board,” said Mark Rushworth, CEO of Pacific Fibre. “Their west coast networks and Wall Street experience will be a great help to us as we enter the major financing phase, and their commitment to helping technology companies strongly aligns with our founding purpose.”

“We are also very grateful for the continued support and confidence from our existing investors, who, like us, are committed to making this happen. We now have highly regarded investors from all three countries of operation, and we are seeing plenty more appetite from a variety of debt and equity investors for the major round.”

Pacific Fibre also announced that New Zealand Trade and Enterprise (NZTE) is providing support by contributing to the cost of feasibility studies evaluating foreign investment. NZTE’s Strategic Investment Fund provides up to $250,000 in matched funding for feasibility studies when the project has good prospects of generating significant economic benefit for New Zealand.

“The capital investment involved with building an undersea cable and the subsequent creation of jobs would have a positive impact on our economy. Having a second cable is also likely to boost the overall competitiveness of our exporters, who increasingly rely on the internet as a channel to global markets,” said Graham Matthews, NZTE’s Director of Investment.

Ends.

For more information please contact:

Mark Rushworth
Pacific Fibre  CEO mark.rushworth@pacificfibre.net +64 21 244 0777

Jim O’Neill
Valar Ventures press@valarventures.com +1 415 248 5140

About Pacific Fibre

Pacific Fibre was founded in early 2010 and aims to build a new fibre optic cable between Australia, New Zealand and the USA. The company Directors and investors include Sam Morgan, Stephen Tindall, Rod Drury and David Kirk, and is based in Auckland with an office in Sydney, and are on track for the system to be operation by mid 2013.

About Valar Ventures

Formed in 2010, Valar Ventures is Peter Thiel’s investment vehicle dedicated exclusively to funding and aiding New Zealand technology companies. Valar Ventures provides growth capital to New Zealand technology companies for the development of technology and expansion into overseas markets.

About NZTE

New Zealand Trade and Enterprise is the New Zealand Government’s national economic development agency