Crown Research Institute Scion completed a successful first full year under the Crown Research Institute (CRI) Taskforce reforms. Scion chairman Tony Nowell said the reforms have made a positive difference. Source: Timberbiz
Nowell said the reforms included long-term planning, technology development and alignment of investment with the New Zealand forest industry.
“I am particularly pleased with the new technologies and information released to the industry over the past 12 months.
“These will help to improve productivity and environmental performance, and establish new markets. They reflect the full spectrum of the targets set in Scion’s science and innovation plan,” said Nowell.
Research and technology highlights from the year included a partnership with Rotorua District Council to successfully commission a pilot-scale plant to treat municipal organic waste that has also led to wider opportunities to commercialise the protected TERAX technology.
There was also the proving of a new wood treatment technology that will enable radiata pine to replace tropical hardwoods and supporting the implementation of the Emissions Trading Scheme (ETS) with the development of carbon calculators.
There was also mention of the release of new support tools for rural fire prevention and management, such as a new Smartphone application that predicts fire behaviour.
Another highlight was the progress made by international license partner Sonae Indústria in accelerating product development for Scion’s new wood plastic pellet technology, with the first royalty income expected within the next few months.
Scion’s financial results were solid, in the year ending 30 June 2012 Scion posted a net profit after tax of NZ$1.5 million, which exceeded budget.
“Revenue this year grew 1.6% to NZ$44.1 million, which is an excellent result in these tight times,” Nowell said.
“While we did not meet our budgeted revenue, we did achieve growth, especially in the commercial area, and we have met our budgeted profitability returns.”
Scion chief executive Warren Parker said Scion has continued the favourable return on equity and margins seen over recent years.
This year Scion realised a pre- and post-reinvestment return on equity of 8% and 6% respectively (compared with 8% and 4.9% budgeted).
