First green heat share offer sells out ahead of Ethical Investment Week
Solar panels are now a common sight and provide evidence that more people understand how feed-in tariffs work and how they can reduce their bills with micro energy generation. Now Cambridge-company Microgenius, is helping to extend these benefits further to investors by offering a national platform for community shares;and the first share offer to use the service closed successfully.
Emily Mackay is the founder of Microgenius, which launched a few weeks ago. It aims to link people with an interest in sustainable energy with communities that are developing microgeneration projects and simplify the process of buying and selling shares. She has been delighted by the response.
“Small-scale energy generation is becoming more and more common. Microgenius was delighted to support Woolhope Woodheat, a co-operative regenerating neglected woodland to produce fuel for hard-to-heat local buildings.”
“The brilliant thing is that everyone benefits. The woodlands are properly managed by experienced people, local people get a source of affordable wood fuel and investors get a good return on their money. For Woolhope Woodheat the target return of 6% plus potential Enterprise Investment Scheme tax relief, creates an effective return of over 8% gross.
“My own interest in community energy generation came when I found that I couldn’t install my own solar panels. So I started to talk to the people involved in other microgeneration projects and got excited about having a single platform for investors to find community share offers.”
For the past four years, the co-operative sector has outperformed the UK economy, demonstrating resilience in difficult economic times and proving that values and principles go hand in hand with commercial performance. More than 5,900 co-operative businesses in the UK contribute £35.6bn to the UK economy and operate across all business sectors.
Microgenius has received an enthusiastic response from key players in the industry including: ethical energy provider Co-operative Energy, and renewable electricity supplier, Good Energy.
Other projects live on Microgenius include a hydroelectric scheme in Sheffield and an urban tree station in Manchester– with others in the pipeline.
More information on Microgenius
By Claire Lynn