invest – Reading Hydro CBS

Additional Share Offer Now Open

08/03/202119/03/2021 Chris BrookLeave a comment

Reading Hydro CBS is opening an additional share offer to help us raise the funds to finish our project

The Board of Directors are pleased to announce significant progress is being made on our site by Caversham Weir, Reading, UK. The main civils construction, carried out by our contractors, Land & Water, has now been successfully completed. The next stages of works include building the Turbine House, the connection cable to the grid, our fish pass and the restoration of the surrounding grounds to their normal state. We’ve been able to make it this far through the support of our shareholders, stakeholders and volunteers, to who the Board passes on its sincere thanks.

However, the project has suffered some cost overruns – this has been primarily brought on by inclement weather, poor ground conditions and the subsequent flooding. We’ve also incurred additional costs with our grid connection work and meeting our regulatory requirements. As such, the Board estimates we need to raise an additional £170,000 to be able to complete our work and start generating electricity. This is where we need your help – our Chair, Sophie, explains further in a video below.

Sophie, Reading Hydro Chair

we need your support

Reading Hydro has decided to run an additional share offer to obtain the funds needed to finish our work. We therefore invite you to support us by getting involved and buying shares in our Community Benefit Society. By doing so, you can help make green energy from the Thames a reality for Reading. Visit our dedicated Share Offer page, where you will find:

Further details in our Share Offer Document
Our Revised Business Plan
An application form to apply, or a link for online applications

We thank you for your continued support.

The Directors, Reading Hydro CBS

The Share offer will close by 5pm, 9TH APRIL 2021

BECOME A PIONEER INVESTOR IN READING HYDRO

30/11/201830/11/2018 Erica PurvisLeave a comment

Announcing the Launch of Reading Hydro Pioneer Share Offer

We’re excited to announce the launch of our Pioneer Share Offer for Reading Hydro CBS. This is an initial investment round to support the early stages, including outline design work to ensure the viability of the project. You can support and invest in Reading Hdyro here!

Our Initial Pioneer Shares

We have got as far as we can supported by initial grants from the Reading Climate Change Partnership and the Department of Energy & Climate Change (now BEIS). All alongside countless hours from the support and work of our wonderful volunteers and growing community (that’s you).

Now we need to move quickly to the next stages! The government is ending the Feed In Tariff for renewable energy at the end of March 2019. In order to secure this extra income, essential for the viability for the project, we must register our scheme with Ofgem before then. We are working to achieve all the necessary permissions. In parallel we are commissioning an Outline Design for the project by an experienced contractor.

You can buy into our Pioneer Share Offer to kick start this project work. This will cover project permissions costs and the commissioning of the outline scheme design.

After all this we will be able to do a full design for the project, make our Main Community Share Offer, and build the scheme.

Without the money raised from this Pioneer Share Offer the project won’t happen for years.

All Pioneer Share owners will be members with a vote in our Community Benefit Society, be eligible to have their investment repaid over time once the scheme is up and running, and gain other perks along the way. If the scheme cannot be built the Pioneer Shares will not be able to be paid back.

Your money is at risk if the project fails; your support makes it more likely we will succeed.

IF YOU’RE INTERESTED TO FIND OUT MORE, INVEST IN SHARES, OR SUPPORT IN WHATEVER WAY YOU CAN, THEN PLEASE READ MORE ABOUT OUR PIONEER SHARE OFFER ON CROWDFUNDER.