Ethical peer-to-peer finance platform, Abundance Investments, launches its second round of investment to extend Monnow Valley Biomass plc’s portfolio of biomass boilers
Based near Newport, Wales, the company are hoping to entice investor’s intro a second round of funding to raise £1.4million total.
This follows the initial round of funding back in 2015 which brought in £300,000.
This second round of funding is to go toward the instillation of a biomass system within a goat farm in Monmouthshire, why supply milk to Waitrose.
Bruce Davis, co-founder and Managing Director, Abundance, said: “Our customers like to invest in a range of different renewable technologies, and the UK still has some way to go before it’s on track to meet its renewable heat targets. So supporting sustainably-sourced biomass projects like this one can make an important difference. Our first offer in 2015 for Monnow Valley sold out quickly; since this new offer can now also be included tax-free in an ISA we expect it to meet with an even warmer reception.”
Colin Bennett, Director of Monnow Valley Biomass, said: “Our goal is to help small and medium-sized businesses reduce their carbon footprint at the same time as their heating and electricity costs while upgrading to a more efficient heating system. We think that crowdfunding is a great way to raise the money we need to do this, while the Renewable Heat Incentive gives us a high degree of predictability over our revenues which should provide assurance to investors.”