We are at Reading Farmers Market this morning – The Cattle Market, Gt Knollys Street, Reading, RG1 7HD. Come along to find out more about Reading Hydro.
To apply for shares, go to https://hydro.readinguk.org/shares/ or email us at reading.hydro.cbs@gmail.com if you have any questions.
We have just reached over the 50% mark with our funding, and we still have 4 weeks to go. So keep talking to people, telling them about this great project and we will get there. https://hydro.readinguk.org/shares/
| We estimate the Community Benefit Fund to be approximately £700,000 over 40 years, which is an average of around £17,500 per year. This can be invested into other local actions to tackle climate change – which have to be both renewable, and benefit people in Reading and the Thames Valley but not necessarily located in the Thames Valley. The Board will ratify assessments of projects and propose to the shareholders which ones to support at the AGM. To apply for shares go to our shares page, or email us at reading.hydro.cbs@gmail.com if you have any questions. |
| Reading Farmers Market has kindly let us have a stand at their market. We will be there from 8.30am tomorrow morning at The Cattle Market, Gt Knollys Street, Reading, RG1 7HD. Come along to find out more about Reading Hydro. To apply for shares go to our shares page, or email us at reading.hydro.cbs@gmail.com if you have any questions. |
The target line is a linear forecast based on £700,000 divided by the days between start and finish. The actual applications are the total value of the cumulative applications received to that date, it doesn’t take into account total pledges in the pre-registration phase or the actual payments received so far.
As you can see we are tracking well ahead of that target line, but there is still some way to go. So please keep up your promotions efforts, and tell your friends about the project.
| Each share costs £1. The minimum investment is £75. The maximum that you can invest is 10% of the total raise, so £70,000. The offer is open now and closes on the 14th February or before if fully subscribed before that date. You can find more detail in our share document or please email us at reading.hydro.cbs@gmail.com |
| If you decide to invest in Reading Hydro you are investing in a sustainable future. Once the scheme is built and operating profitably, we are aiming for a long-term interest rate payment of 4%, or to match the inflation rate if this is higher. By investing, you become a member with one vote. The Directors will recommend to the Members what return and capital to pay to investors (subject to the maximum rates above) and how much is available as a benefit to the community. The Society is expecting to repay 75% of the capital raised over the first 20 years of the project, with the remainder over the life of the project. “If you invested £1,000, our financial model would expect to pay about £330 in interest over the next 10 years, and to repay you £300. The remaining £700 will still earn interest and be repaid gradually, but may be repaid earlier if you need it .” Please be aware, however, that your investment in Reading Hydro is not without risk, and there is a possibility that you might lose some or all of it. Do contact us if you have questions and do discuss your investment with someone you trust. You can find more detail in our share document or please email us at reading.hydro.cbs@gmail.com |
| Our plan is to install Archimedes Screw turbines beside Caversham Weir. The turbines should generate about 320MWh of renewable electricity each year, from the flow of the water. This is enough to supply about 90 average homes – this is 0.2% of Reading’s homes – but every little counts! With proper maintenance, we expect the turbines installed at Caversham Weir to generate renewable electricity for 40 years or more. Once built our electricity will be zero carbon, replacing fossil fuel generation on the grid. This electricity will also provide an income for community projects in the local area, as all our profits will benefit the local community. If you would like to know more about the technology we are using, then please email us at reading.hydro.cbs@gmail.com |
Shares are selling well, so far we have raised over £262,000 of our £700,000 target. We’ve got several weeks to go, so please spread the word to your friends, family and colleagues. If you know anyone who may be interested in supporting Reading Hydro and wants to invest in renewable energy generation, please share this link: https://hydro.readinguk.org/
Take a look at the progress thermometer on the side bar and the graph below! Our share raise to finance a hydro scheme on the Thames at Reading is progressing really well. Go to the Shares page for details of the scheme and how to invest.
The target line is a linear forecast based on £700,000 divided by the days between start and finish. The actual applications are the total value of the cumulative applications received to that date, it doesn’t take into account total pledges in the pre-registration phase or the actual payments received so far.