Green Crowd powering ahead thanks to small investors

Green Crowd powering ahead thanks to small investors

Irish crowdfunding platform Green Crowd is actively funding three EIIS projects this year, and expects many more to come on stream in the future

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21st November, 2021

Irish crowdfunding platform allows private individuals to invest directly in sustainable projects and businesses. Investors can avail of tax relief of up to 40 per cent under the EIIS Scheme.

Green Crowd is actively funding three EIIS projects for 2021. Solarstream is a Carlow-based commercial rooftop solar PV installer. Established in 2017 and now employing 18 full-time staff, Solarstream has developed its own portfolio of electricity generating assets that it owns and operates.

The business previously raised €2.2 million under EIIS and is now raising a further €1 million this year in a final fundraising round. It will use these funds to further invest in a range of commercial PV solar rooftop plants and expand employment.

“Solarstream has a proven track record and offers a solid asset backed investment opportunity within a sector of proven technology and predictable performance returns,” said the company’s chief executive, Paul Browne. “Investors can expect to receive a projected net cashflow of €25,000 for a €50,000 investment, inclusive of the tax relief.”

Green Crowd is also arranging an EIIS private placement for Avoncourt Building & Construction Limited, a company that will be building social and affordable homes, as well as commercial construction projects.

The business has been set up by experienced builders and project managers because the traditional associated banks are not providing funding to smaller construction projects. The company is seeking €1 million for working capital to fund its building programme.

The team at Green Crowd are also raising EIIS funding of €500,000 this year for Tipperary-based Bioenergy Installations. Bioenergy Installations and its sister company Woodco, are established manufacturers of biomass boilers with over 20 years’ experience. Bioenergy Installations is installing its own biomass boilers at care homes, leisure centres and commercial buildings and selling the heat to customers under 15-year contracts. This provides EIIS investors with a solid backed investment with certainty of income.

Browne is upbeat about the outlook for 2022. “The Green Crowd platform is attracting a huge interest from businesses in the green and sustainable sector seeking to raise funds. Investors are delighted with the opportunity to invest directly.”

For 2022, Green Crowd expects to be promoting EIIS private placements into a number of further renewable energy projects as well as an electric mobility fleet management company and expects to raise over €10 million for private businesses through EIIS.

“For small businesses seeking investment, we give them the opportunity to secure start-up and development investment directly from a wide range of investors,” said manager at Green Crowd, Janine Donoghue.

Crowdfunding is a great way to finance projects or businesses by raising contributions from a large number of people, usually via the internet on a ‘platform’. In return, you receive shares or earn interest as well as getting up to a 40 per cent tax rebate if the business qualifies for EIIS relief.

Green Crowd is ambitious in its targets and expects to provide a mixture of debt and/or equity finance along with rich sector expertise to assist entrepreneurs to grow their businesses. Sectors in which they have particularly strong experience and investment appetite include energy and manufacturing.

The firm is actively seeking to support and fund resourceful and experienced management teams and developers in a variety of energy sectors, including energy storage, reserve power, energy from waste as well as solar and wind projects. The renewable energy projects provide asset backing for investments. The trading businesses are selected for their strength to achieve the investor return. Together they provide a complementary investment proposition.

All enquiries to [email protected] or call 01-9120345.

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