18 Jan 2013

Ecodynamic Community Share Offer Launch in Stroud

Back in 2005/6 we saw the Fordhall Farm community co-op buy out; 8500 members invested £850,000 in non profit community shares to buy the farm into trust. See details here. Well I've just had an email telling me that community investment has moved on to offering fair rates of financial return, as well as social and environmental benefits.....

Here's their press release - but as always with such things take advice before investing - this blog is just reporting on this development....

Ecodynamic Community Share Offer Launch for Renewable Energy on 25th January at Stroud Brewery 2-3pm - Fermenting a local community investment revolution

Ecodynamic Community Benefit Society will launch its founding  Share Offer at 2pm on Friday 25th January at Stroud Brewery. The Offer will enable Ecodynamic to purchase and run a new 55KW Endurance  wind turbine near Redruth, Cornwall,  and reward  investor members  with social,  environmental and  fair financial returns. Any surplus will be reinvested in renewable energy, biodynamic, organic and sustainable food projects. Click read more to see more of their news release....
Why found Ecodynamic ? Faced by the challenges of the current environmental and financial  crises,  people are asking, ‘How can I invest ethically and sustainably? How can I invest directly into projects that I support - rather than into the global financial casino? How can I get a fair return for my savings when banks pay such low interest?  These challenges, not just that ‘the lights may go out’,  led the directors of Ecodynamic to look for  co-operative energy solutions that will help build a low carbon, social economy -  one project at a time.

‘Ecodynamic offers the  potent combination of both investing savings with interest  in a community  project, backed by  the government’s Feed in Tariff ,  and also reinvesting any surplus income  into other community food, energy and land projects, ‘ says founding director, Martin Large.
The  founding team of directors  has relevant experience of  business, co-ops,  renewable energy, farming,  banking and administration. Ecodynamic is guided  by the seven co-op  principles: voluntary membership, democracy, economic inclusion, independence, education, cooperation and concern for community. Our vision is to help create a ‘co-operative turn’ towards a sustainable social economy. So, unlike many private,  for profit renewable energy companies, Ecodynamic will reinvest surpluses in the community.

Ecodynamic is seeking to raise a maximum of £350,000 in the inaugural share offer to finance the Redruth  wind turbine project in Cornwall.
 Ecodynamic will be offering shares with a projected annual return of 3% rising to 5% after year three. The project is applying for  EIS status, which if successful will provide income tax payers 30% relief in year one. The share offer opens on 25th January and closes on February 28th 2013.
‘Ecodynamic will enable the biodynamic, organic, low-carbon community to generate renewable energy, and to reinvest the surplus in grassroots projects and land access. This investment will provide environmental and social benefits  with government backed, fair financial returns for member investors while significantly contributing to a co-operative social economy’  Robin Evans, Chair,  Ecodynamic

Ecodynamic Community Benefit Society Limited
The Painswick Inn, Gloucester Street, Stroud Gloucestershire, GL5 1QG
Registered with the FSA, NO 31937R
More details soon at: www.ecodynamic.org.uk

No comments: