Z Energy has bought 70 percent of retail electricity supplier Flick for $46 million, it was announced today.
“This is a great Wellington story,” the Mayor says. “New Zealand’s largest transport energy company recognises the value and potential of a Wellington start-up.
“Flick was launched only four years ago to disrupt the electricity market and has admirable core values.
“Prior to founding Flick Electric Steve O’Connor was chief executive of Creative HQ, Wellington’s business incubator and innovation centre.
“The future of transport is low carbon and electricity will be one of the fuels needed to achieve that. Wellington is now investing in electric charging points for EVs and once Z Energy and Flick throw their weight into it, it will take off.”
Councillor Simon Marsh, who holds the economic development and business portfolio, is pleased Flick has been picked up by a local company.
“Flick is very much the product of Wellington’s leadership in innovation and technology.
“It now has the capital to grow here in New Zealand and even better in Wellington.”