Brighton & Hove Energy Services Co-operative (BHESCo) has so far raised over £40,000 in their latest share offer.
The funds will be used to develop a series of low-carbon energy projects across Sussex, including energy-efficiency and renewable energy technologies in a school, equestrian centre, business park, industrial estate and wine estate.
There is no upper limit on BHESCo’s fundraising target for this share offer, which ends on 31 December, but it says the more investment it gets, the more projects it can deliver.
Investments by community shareholders can make a return of around 3% (though this is not guaranteed), and enable BHESCo to support property owners to take action to reduce the environmental impact of their buildings by providing the upfront costs of the projects.
BHESCo founder and CEO, Kayla Ente MBE, said: “We have seen a very positive response from investors who want to mobilise their money for the good of the planet.
“Despite the economic challenges facing the UK right now, our investors understand that there is no time to waste when it comes to tackling the climate crisis.”
In addition to helping the UK meet its net zero carbon emissions targets, these projects will deliver big savings for the community at a time when energy bills are a top priority for everybody”.
BHESCo’s Dan Curtis added: “In 2022 the UK has suffered heatwaves, droughts, and wildfires, demonstrating that nowhere is safe from the impacts of climate change. By becoming a member of our energy co-operative, investors know that they are supporting an innovative business model that delivers local solutions to the global climate crisis.”
Since its first share offer in 2015, BHESCo has raised £1.4m from over 400 investors, completing 58 community energy projects. BHESCo estimates that these projects will save more than 7,000 tonnes of carbon emissions.