Good Energy wants to raise £3.1 million in new funding and has launched a share offering.
Shares will cost £2.08 each, with a minimum application value of £520. The company said it “anticipates most applications from existing customers, bondholders and shareholders, but also welcomes applications from other interested persons”. The offer closes at 23.59 on 19 June, full details here.
The funding will be used to:
- Improve customer experience through a new operational platform
- Invest in new systems to reduce cost to serve and customer acquisition costs
- Develop existing and new renewable energy generation sites to maximise value
- Strengthen Good Energy’s financial position and future profitability.
The firm’s first windfarm in Cornwall was bought via a share offering in 2002 and Good Energy’s first bond offer to customers, in 2013, closed three weeks ahead of schedule having reached the maximum of £15 million.
Juliet Davenport, OBE, Founder and CEO of Good Energy said: “Our customer numbers, renewable energy generation and revenues are all growing fast. We believe our customers are at the heart of our business and should have the option to share in the success of Good Energy. This new share offer gives them the chance, alongside our institutional investors, to be part of the next stage of our growth journey and our exciting plans for the future.”