Clean energy business Thrive Renewables has raised £6.8m for new green energy generation and storage projects across the UK. The Bristol-based firm said the money from the crowdfund would be used to build some of its pipeline of onshore wind, commercial rooftop solar and battery assets.
The share offer, which was promoted by Triodos Bank UK through its crowdfunding platform, closed on Monday, October 11. Thrive said it reached its original £5m target ahead of deadline so extended the offer.
As well as funding new onshore wind and commercial solar projects, Thrive said it intends to increase its battery storage and baseload capacity, and the collaborative funding available for community energy groups to build renewable energy projects.
Matthew Clayton, managing director of Thrive Renewables, said: “We’re thrilled to have raised £6.8m for new clean energy projects and would like to thank everyone who participated in the share offer. We believe in a clean, smart energy system powered by the investment of many, so it’s fantastic to welcome so many new investors at this crucial time."
Mira Vogel, a London-based investor who participated in the crowdfunding round, said: “We won’t have a habitable world if we don’t divest from fossil fuels, and the prospect of climate change is feeling really urgent now. I have decreased my individual use, but that has little impact overall. I feel that investing in renewable energy is something that I can do to contribute to systemic change."
The success of the crowdfund follows new survey data commissioned by Thrive and undertaken by Opinium, which revealed retail investors are "deeply concerned" about the climate and energy crisis and want to take matters into their own hands by investing in renewables.
According to the survey, which gathered data from 1,000 UK retail investors alongside 2,000 people from the general population, seven in 10 investors (69%) think the UK should increase the amount it invests in renewable energy.
Whitni Thomas, head of corporate finance at Triodos Bank UK, added: “It has been good to see that people across the UK remain passionate about investing in clean energy. We hope to host many such offers on the platform - all similarly focused on helping to develop a clean energy future.”
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