New Zealand-based investor Powerhouse Ventures is hoping new investments in Australia can help draw a line under a troubled period, following the HydroWorks liquidation crisis, the biggest of several to plague the company. The company was sold for $US1 billion ($A1.06 billion) by its Australian owners last year after it failed to find buyers and had debts that were too big to be repaid.
New Zealand-based investor Powerhouse Ventures is hoping new investments in Australia can help draw a line under a troubled period, following the HydroWorks liquidation crisis, the biggest of several to plague the company. Powerhouse CEO Paul Viney said the company would "tighten up its business model", while chairman Russell Yardley said the focus would be on turning "exciting intellectual property into products".