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 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
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