Engynious launches Crowd Funding for "Crowd Energy"
Engynious to raise between £300,000 and £1m to refinance its PV Solar installations on schools across the UK enabling further growth
Regular cash returns for investors - 6.7% IRR fixed income return based on twice-yearly payments to debenture holders for 19 years
Debenture offer launched via Abundance NRG Ltd. crowd funding platform this week
Engynious is seeking to raise between £300,000 and £1m in long-term debentures to refinance its 21 existing PV Solar installations on primary and secondary schools across the UK. These will be pooled in its new wholly owned subsidiary, Engynious Schools plc, which will raise the funds by issuing long-term debentures to the public and pay them a 6.7% fixed income return. Funds raised will be used in the wider Engynious group allowing it to further grow, in particular to provide additional schools access to our UK Schools Solar Programme.
To date, 21 PV systems owned, managed and monitored by Engynious are generating electricity for 19 schools with more planned for the future. Engynious earns revenues from the Government's Feed-in Tariff scheme and from selling electricity to the schools.
PV installations by Engynious have cost the schools nothing and will incur no future cost for their operation. Schools gain from reduced energy bills up to 30% below standard rates, generating savings from day one, and a lower carbon footprint. In addition, they enjoy a valuable practical demonstration of alternative energy to educate and inspire their students.
Engnyious’ continued involvement in its projects secures the long term economic, social and environmental gains underpinning Engynious’ commitment to deliver a truly sustainable opportunity.
"As believers in distributed renewable “crowd” energy, we are delighted to have joined forces with the crowd-funding innovator Abundance Generation to offer this opportunity that will generate regular cash returns for the investor while at the same time help schools in the United Kingdom save on their energy costs. This way we can offer more schools the chance to benefit from renewable solar power generated and used on site", says Gregor Loukidis, director of Engynious Schools plc.
The public offering open to investors as of this week is arranged and facilitated by low risk, ethical investment platform, Abundance Generation. The Engynious Schools offer is their 7th solar energy project.
People with as little as £5 to invest can benefit from a fixed income return with an IRR of 6.7% (7% with full Early Bird bonus) paid twice yearly over the 19 year term. Holdings can be sold earlier, at no additional cost, to other participants via a facility on the Abundance website.
Interested investors can find full information regarding the offering on the Abundance website: www.abundancegeneration.com.
As with any investment product there are risks. Part or all of your original invested capital may be at risk and any return on your investment depends on the success of the project. This product is a long term investment and may not be readily realisable throughout its term (and its value can rise or fall). Estimated rates of return are no guarantee of actual return. Additional specific risks with this product will apply and are contained in the project's Offer Document. Please consider all the risks before investing and read the Offer Document carefully.
About Engynious in the UK
Engynious Schools plc and Engynious Clean Power (UK) Ltd are members of the Engynious group which delivers solutions for the generation and use of solar energy to meet distributed power requirements. It specialises in decentralised rooftop developments. Through its technical and commercial competence and continuous work on technology enhancements and innovative business models, it makes renewables a viable alternative for the sustainable long-term supply and use of energy.
About Abundance Generation
Abundance is the FCA-regulated finance platform allowing small investors to invest directly in UK renewable energy projects with as little as £5. This new form of ‘democratic finance’ - building on the success of peer-to-peer lending, crowdfunding and other forms of ‘people-powered finance’ - opens the door for ordinary people to support and participate in the benefits of renewable energy.