NAME OF ORGANISATION: Ecodynamic CBS
LOCATION: Cornwall
YEAR FOUNDED: 2013
ABOUT: Ecodynamic Community Benefit Society was set up to deliver a biodynamic, organic, low carbon, sustainable community to generate renewable energy.
INVESTMENT PURPOSE: To support the installation of the Croft West Wind Turbine.
INVESTMENT AMOUNT: £75,000
DATE OF INVESTMENT: 2013
SOURCE OF INVESTMENT: Community Share Underwriting Fund
IMPACT: Energy & The Environment; Community & Local Democracy;
ABOUT: Ecodynamic Community Benefit Society was set up to deliver a biodynamic, organic, low carbon, sustainable community to generate renewable energy. It launched a share offer to install a wind turbine at Croft West in Redruth in 2013. This first project was called Geoff Watson (after a wind energy pioneer), is a 60KW Endurance wind turbine. Long term aims of Ecodynamic include investing in the development and running of renewable energy generation projects, and to then re-invest surplus in biodynamic and sustainable farming.
PURPOSE OF INVESTMENT: The Resonance Community Share Underwriting Fund supported the share offer when it fell short of its target raise. The share offer needed more momentum to convince other investors to support this community project. Having assessed the potential of the project in terms of viability and social impact, as well as the strength of the team leading it, Resonance agreed to underwrite with a loan which added a little extra confidence to potential investors, to encourage them to invest. At the same time the Biodynamic Land Trust, which originated the project, also committed to underwrite the offer with a loan of the same amount and with this added momentum, the share offer finally managed to raise over £200,000.
Read more about Ecodynamic and other investments in the Community Assets Social Impact Report.
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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