IndraNet boss claims serious interest from large investors

Christchurch-based IndraNet Technologies, which plans to use its technology to transform the global telecommunications and electricity markets, is being taken seriously by large potential investors, says founder Dr Louis Arnoux. Arnoux says IndraNet has already been approached by companies offering assistance in getting listed on a major stock exchange. 'We had planned to be listed in around two years' time but it's now clear we won't have to wait that long.'

Christchurch-based IndraNet Technologies, which plans to use its technology to transform the global telecommunications and electricity markets, is being taken seriously by large potential investors, says founder Dr Louis Arnoux.

Arnoux says IndraNet has already been approached by companies offering assistance in getting listed on a major stock exchange. "We had planned to be listed in around two years' time but it's now clear we won't have to wait that long. At present, we get the two extremes in investment: small- to medium-sized investors and very large ones, with nothing much in between. The large ones are negotiating with us on potential partnerships and ventures."

IndraNet will take e-commerce, e-cash and e-finance to a new dimension beyond the "crude beginnings" taking place on the Internet, Arnoux says. The technology will replace and improve on POTS (plain old telephone services) by moving to a non-hierarchical mesh network and will also deliver much cheaper electricity by linking users with wholesale power markets. "While these claims might sound extraordinary, they are now being taken very seriously by a number of large corporates and entrepreneurs. The New Zealand market is slowly waking up to the fact that it can't maintain a high standard of living exporting logs and commodities derived from grass. The returns from IT and network technology are around 10,000% from start up, leaving real estate and NZSE40 stocks behind."

IndraNet's $3 million share offer (minimum subscription 250 shares at $2 each) closes on June 6.

Traditional infrastructure set-ups cannot scale to the developing needs of the world, Arnoux says, and IndraNet has had to take a "zero base" approach in order to tackle the problem afresh. "Many managers talk about the convergence of telecomms and computing but few understand the massive societal changes that are driving it. What the market demands is the seamless integration of local and non-local activities." Local refers to where people live and work, while non-local includes both "elsewhere" - such as phone calls, remote robotic surgery and the remote management of industrial plants "including, eventually, in other parts of the solar system" - and "nowhere", such as the Internet, e-commerce and electronic banking.

IndraNet, says Arnoux, has proven hardware for its Mark 1 system and most of the software is now available. "A Mark 1 simplified IndraNet commercial version will happen much sooner than initially expected.

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