Hon STUART NASH: One example Kiwi start-up, EnergyBank, raised nearly $2.7 million in an oversubscribed seed round led by Icehouse Ventures New Zealand, and the newly created fund, Nuance Connected Capital, which Elevate backed this year with a $17 million commitment. EnergyBank aims to develop a new technology for storing energy, which it claims is better than pumped hydro or lithium ion batteries, and could help decarbonise electricity grids in 42 countries within 30 to 40 years. Another example, deep tech company Aquafortis has developed a technology that uses a fraction of the energy of thermal systems to separate waste water into dry mineral salts and clean water.