One of the questions I've been asked is why I am pursuing investment before launching Spidi Lift Solutions rather than simply starting small and building again.

One of the recurring themes throughout this assessment process continues to be the operational inefficiencies that exist within traditional lifting and transport models, particularly in geographically difficult environments. A strong example was assisting with multiple Passive House builds using Formance SIP panel systems. Several of these homes occupied almost the entire site footprint, leaving minimal setup space for traditional truck-mounted cranes. In Pauanui, Kuaotunu and Cooks Beach, lifting operations had to be completed largely from the roadside due to the house footprint covering most of the section itself. The Cooks Beach project also highlighted another growing issue. Due to truck size and weight, neighbouring land had to be utilised during the build process, with reinstatement requirements identified during planning due to the risk of surface damage from heavy vehicle movements. The Wharekaho project created another challenge entirely, with the home positioned partway up a steep hillside development accessed via an extremely steep driveway. In all cases, the lifting capacity itself was not necessarily the main challenge — access, deployment efficiency, staging space, surface impact, and equipment utilisation were. The Formance team, who operate projects throughout New Zealand, also noted these types of access constraints are becoming an increasingly common nationwide issue rather than something isolated to the Coromandel alone. As flat sections become less available, developments are increasingly moving toward tighter sites, architecturally complex builds, and difficult hillside terrain. At the same time, Passive House and panelised building systems are becoming increasingly popular due to energy efficiency and faster build times. These projects continue reinforcing why smaller footprint and more specialised lifting solutions may become increasingly relevant across multiple industries and regions throughout New Zealand.

One of the key questions around this project is: Why assess specialised equipment investment while the wider economy remains under pressure? For me, the answer comes back to efficiency, adaptability, and solving real operational problems. Difficult economic periods often expose inefficiencies. Businesses place more value on services that reduce downtime, lower transport costs, improve productivity, and can work across multiple sectors. That is why the Spidi Lift concept is not being assessed as a construction-only opportunity. Potential applications include residential construction, roofing, glazing, steel installation, electrical and solar, telecommunications, marine, infrastructure maintenance, insurance remediation, arborist work, and difficult-access logistics. At the same time, regional development across the Coromandel continues progressing. Current and emerging activity includes proposed subdivisions at Kaimarama, Hikuai, and Whangamatā, continued staged growth within Whitianga Waterways, and further residential and commercial expansion across the wider region. Whitianga is also seeing commercial activity across areas such as Moewai Road, Abrahamson Drive, and Bryce Street. Recent Infometrics data for Thames-Coromandel also shows signs of regional resilience, with district GDP growth slightly ahead of the national average and commercial vehicle registrations increasing strongly over the past year. This opportunity is not about assuming the economy suddenly returns to boom conditions. It is about assessing whether a lean, specialised restricted-access lifting and logistics model can solve genuine challenges across multiple sectors and create long-term value. The Coromandel is not simply the target market — it is the proving ground for a potentially much larger operating model.

A key part of my due diligence process has been speaking with potential customers and reviewing written feedback from businesses operating throughout the Coromandel. The feedback has been remarkably consistent. A major building company operating across the region noted: "Due to the architectural style of our homes and the often challenging nature of sites across the Coromandel, we regularly require the expertise of specialist operators for lifting materials and equipment." A structural engineering and steel fabrication firm highlighted another challenge facing local projects: "Having a local machine of this capability enables projects to be delivered locally, reducing downtime involved if waiting for an out-of-town contractor and their subsequent travel and transportation costs." These comments reinforce what I have been hearing across multiple sectors. Challenging terrain, restricted access, steep sites, and the cost of bringing specialist equipment into the region continue to create operational and financial challenges for local projects. Several businesses have also indicated strong forward workloads extending into 2026 and 2027, providing confidence that construction and infrastructure activity will remain active within the region. While no investment decision should rely solely on letters of support, the feedback received provides valuable independent validation that a genuine market need exists for specialist access and lifting solutions within the Coromandel. I look forward to sharing further findings as the assessment progresses.