Weekend Edition: Crowdfunding, How it could save the planet

Surface of the Atlantic ocean meeting the Earth's planetary boundary layer and troposphere.

Surface of the Atlantic ocean meeting the Earth’s planetary boundary layer and troposphere. (wikipedia)

Anmar Frangoul | April 10, 2014 | CNBC – To date, people have used crowdfunding to help albums, books, and even that most British of institutions, a fish and chip restaurant, get off the ground.

But in the energy sector, crowdfunding is increasingly being used as an alternative way to finance renewable energy projects, enabling smaller companies to develop renewable projects with a degree of independence that is not usually seen with bank financing or investment by a large corporation.

The pace of this change is gaining momentum. In the UK, funding site Abundance Generation was launched in 2011, and allows people to invest in renewable energy projects. Since its launch, over 1,000 people have invested more than £5 million ($8.4 million) in ‘ethical and sustainable energy projects’.

(Read more: No one and nowhere immune to climate change: UN)

Projects including a commercial scale solar farm in Kent and a wind turbine project in Gloucestershire have benefited from Abundance funds. The amount of money raised for successfully funded projects ranges from £216,000 to £1.4 million.

Meanwhile, in the U.S., the investment platform Mosaic has enabled people to directly invest $5.6 million in, “high quality solar projects.”

Florida-based Crowd Energy have developed the Ocean Energy Turbine, which it claims “is the first renewable energy system designed to effectively harness ocean currents on a commercial scale.”

In order to continue their turbine’s development by building a second prototype and test tank, followed by ‘open ocean’ testing with the aid of Florida Atlantic University, they have set up a Kickstarter page with the goal of raising $75,000.

“Three or four years ago, we wouldn’t have been looking for funding through this route, we would have done it out of our own pockets,” Phillip Janca, of Crowd Energy, told CNBC.com in a phone interview.

The financial crisis has meant that banks and investors are more likely to invest in low-risk projects, and for Janca, one advantage of financing the project through crowdfunding is the independence from larger energy companies it offers.

“They want to be seen to be environmentally conscious, and so would probably give us some development funds,” Janca said. “But when they have control of the project… bringing it to completion and fruition is going to be a very difficult thing because it’s in direct competition with what they do,” he added.

Janca has big ambitions. “The Bureau of Ocean Energy Management says that if we can capture 1/1000th of the energy in the Gulf Stream, we could supply Florida with 35% of its electricity,” Janca said.

“The bottom line is that we want to become a company that builds our own power generation equipment and then employs it in the ocean to harvest electricity,” Janca added. Come 2015, Crowd Energy hope to have four ‘production scale’ turbines up and running, and feeding the grid.

So far, they have raised over $15,000 of their target. Will they achieve their goal? “It remains to be seen, but we are positive about it,” Janca said. “We envision the old proverbial hour glass being turned upside down and there’s a limited amount of time before global warming takes over – it’s a bit of a race.”
read more: http://www.cnbc.com/id/101571565


This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news [...]

NPRAfter Outcry, Crowdfunding Site Patreon Backs Off Plan To Raise ...NPRThe popular crowdfunding service Patreon has backed off plans to change its payment structure, after widespread, vocal and passionate opposition from creators and their fans. Last week, the site announced it woul [...]

TechCrunchHow hate speech crowdfunding outfit Hatreon crept back online ...TechCrunchIf you want to make a living creating white supremacist content, you're probably not going to do it via sites like Kickstarter and Patreon, which prohibit hate speech. Fortunately there's Ha [...]

EntrepreneurWhy Some Small Business Owners Are Turning to Crowdfunding to Save Their CompanyEntrepreneurMany owners of beloved local businesses, especially in pricier cities, have been forced to swallow their pride and appeal to their customers in times of crisis -- a process streamli [...]

CoinDeskKickstarter ICO? Don't Count On It Says Crowdfunding Leader ...CoinDeskThe company most widely associated with crowdfunding, Brooklyn-based Kickstarter, has no plans to get into the initial coin offering (ICO) business. Coming in response to the news yesterday that compet [...]

ForbesCrowdfunding Do's And Dont's From iFundWomen's Karen CahnForbesDuring our conversation, she was transparent in sharing that her first software company, VProud, failed because she “did everything backwards” and spent too much time trying to perfect the product. “Pe [...]

CryptoCoinsNewsCrowdfunding Giant Indiegogo Looks to Make ICOs MainstreamCryptoCoinsNewsCrowdfunding platform Indiegogo has a plan to help initial coin offerings (ICOs) break into the mainstream, even as the U.S. Securities and Exchange Commission (SEC) is ramping up its oversight of [...]

WRAL Tech WireBack story: How, why investor Mark Easley brought crowdfunding platform Localstake to NCWRAL Tech WireRESEARCH TRIANGLE PARK – Earlier this week, WRAL TechWire broke the news that Triangle investor and crowdfunding advocate Mark Easley was bringing Localstake, a crowdfun [...]

Crowdfunding via Customers: Is This The New Startup Capital?Customer ThinkWith more and more companies in a variety of sectors developing new crowdfunding campaigns, it makes sense to ask whether crowdfunding is likely to replace startup capital in the near future. Crowdfunding is qui [...]

TechCrunchFormer Gawker employees are crowdfunding an effort to buy Gawker.comTechCrunchWhile Univision acquired most of Gawker Media's sites last year (and renamed them as the Gizmodo Media Group), the deal didn't include Gawker itself. In fact, BuzzFeed reported last month [...]

CFB Finance


  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |