Earth Sciences NZ will decide next month whether to seek external investment for a new commercial haku farm.
Hubdoc will continue as a standalone business.
The iPhone maker is within reach of being the world's first trillion-dollar company.
The investment approval allows the company to complete its testing phase and move into a commercial phase.
Datacom's revenue grew 9.3% to $1.27 billion.
The latest mobile and landline numbers for New Zealand's three largest telcos.