Last week at the Good Deals + Beyond Good Business conference, voting opened for the Good Deal of the Decade award and at Eastside Primetimers, we are heartened to see that Our Power’s social purpose bond issue with Ethex has been nominated. We helped Our Power put together a bond offer document, containing detail of the business plan and expected social impact to help guide prospective investors. The full list of nominees is available at Pioneers Post and the winning deal will become a part of the NatWest SE100 Awards.
Fuel poverty is a big problem throughout the UK, with around 3.5 million households estimated to be living in fuel poverty. Lower income households are often unfairly penalised by energy suppliers as they end up paying considerably more for their energy.
Our Power needed the investment to tackle this issue. A 3-year unsecured £4.4m transferable bond went live on the Ethex positive investment platform on the 21st October 2017. As a result of the £4.4m investment raise Our Power intends to grow its business to be able to provide many more customers with an affordable standard fuel tariff.
The nominators said: “Our Power was able to move ahead with their 5-year business plan to provide more than 120,000 additional customers with affordable energy and create 200 jobs in areas with high unemployment.”
Voting is very simple and open for two months – you can vote here if you would like to join us in supporting Our Power.