{"id":642495,"date":"2026-10-27T05:30:08","date_gmt":"2026-10-27T05:30:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/642495\/"},"modified":"2026-10-27T05:30:08","modified_gmt":"2026-10-27T05:30:08","slug":"hydroxsys-liquidation-auckland-cleantech-start-up-owes-creditors-3-1m","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/642495\/","title":{"rendered":"Hydroxsys liquidation: Auckland cleantech start-up owes creditors $3.1m"},"content":{"rendered":"The Companies Office register records Hydroxsys as being backed by a number of well-known venture capital investors: Sir Stephen Tindall\u2019s K1W1 (7.94%), Icehouse Ventures (4.35%) and Aspire NZ Seed Fund (4.08%) are listed as shareholders in the holding company.<\/p>\n
Many of these investors had come on board more than a decade ago. Reports from 2014 said the company had raised $2.1m in seed funding, followed by another $3m in 2023.<\/p>\n
Shepherd and Kellow\u2019s report says employees were owed $80,975, but an ongoing Employment Relations Authority case was likely to see another $110,501 added to this.<\/p>\n
The earlier effort to find a solution through voluntary administration comes into sharp focus when assessing the sums owed to Inland Revenue, the single largest creditor.<\/p>\n
The taxation authority is owed $1.76m, but the bulk of this ($1.74m) relates to R&D tax credits, which crystallised into a liability once liquidation occurred.<\/p>\n
The liquidators\u2019 report also records a $409,862 loan is owed to the recently shuttered government-funded Callaghan Innovation.<\/p>\n
The secured creditor, recorded in securities filings as BNZ, is owed $428,174.<\/p>\n
The company\u2019s website, which is still live, says: \u201cFounded by engineers and scientists, and tested and proven by leading food processors and exporters, Hydroxsys is a privately-owned New Zealand company with headquarters, manufacturing, and research and development facilities in Auckland, New Zealand.\u201d<\/p>\n
Matt Nippert is an Auckland-based investigations reporter covering white-collar and transnational crimes and the intersection of politics and business. He has won more than a dozen awards for his journalism \u2013 including twice being named Reporter of the Year \u2013 and joined the Herald in 2014 after having spent the decade prior reporting for business newspapers and national magazines.<\/p>\n
Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"The Companies Office register records Hydroxsys as being backed by a number of well-known venture capital investors: Sir…\n","protected":false},"author":2,"featured_media":642496,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[36304,3149,51,138,163413,17397,315097,83475,315096,2739,111,139,69,44236,4460,1037,1361,1528],"class_list":["post-642495","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-31m","tag-accelerator","tag-auckland","tag-business","tag-cleantech","tag-creditors","tag-foundered","tag-grew","tag-hydroxsys","tag-liquidation","tag-new-zealand","tag-newzealand","tag-nz","tag-owes","tag-product","tag-startup","tag-that","tag-university"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/642495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=642495"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/642495\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/642496"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=642495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=642495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=642495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}