UK's First Community Shares Platform
Sep 18 2012
A technology that kick started the industrial revolution is being relaunched in the 21st century with the help of Microgenius (UK), the first platform for community shared focused on renewable energy projects. The first project using Microgenius is the share offer launch by Sheffield Renewables, aiming to raise £250k towards their Jordan Dam Hydro power initiative.
This new non-profit website from Microgenius is designed at creating links to people involved, working or just interested in Green Energy.
Emily Mackay, founder of Microgenius comments: “When I was looking to invest in renewable energy, I found it really difficult to find the community projects. It was so frustrating! I eventually found and talked to some co-operatives and ‘community benefit’ societies and I realised then how burdensome they find attracting investors and the administration that comes with it. So I could see that something had to be done to help.
“Microgenius is designed to simplify the process for both projects and investors. It is a web-based platform that has been specially developed to manage the administration of fundraising and also to make it possible to reach a much wider range of people with the share offer. Sheffield Renewables will be our first test run.”
In a time of downturn, community energy is thriving with 59 energy co-operatives registered around the UK according to the Community Shares Action Learning Research Project. Although the sector is still emerging, some are already generating energy using wind, hydro and solar power with many more projects planned. An estimated £25m has been invested in community shares in renewable energy to date.
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