Pioneer share offer

Printer-friendly versionPrinter-friendly version

Brighton Energy Co-operative launched a pioneer share offer in order to raise the cash required to get the ball rolling to take their community-owned solar PV project forward. The costs of setting up the organisation, in terms of printing, hall hires, web support, branding, were all starting to add up and were only going to grow, and so the pioneer share offer would provide much needed start-up capital. To support the pioneer offer, they wrote a business plan detailing where the organisation was heading, how it would get there and how much this would cost. They then had to market the pioneer offer - the team organised a public meeting, both to update people on how things were progressing and where the organisation had got to, and circulated their plans to their mailing list. At the public meeting they went through details of the business plan and outlined the money they required. Over the course of the next few months, the team also held one-to-one meetings with local people who had expressed an interest in joining and investing in the project. At this stage it was fundamental for the team and the project idea to remain credible, so they intensively rehearsed all presentations as well as answers to potential questions, with each director being allocated specific subject areas. Eight people subsequently bought shares, and they successfully raised £18,000.

Source: Community-Led Photovoltaic Initiatives action pack