CROWDFUNDING OCEAN ENERGY

Clean Reach: "We want to be the Kickstarter of the ocean energy world"; New crowdfunding site for wave, tidal and offshore wind energy projects aims to help sector overcome traditional funding hurdles

Will Nichols, 28 March 2014 (BusinessGreen)

“…Crowdfunding sites generated around $2.8bn of investment last year, a figure that is expected to rise to $15bn by 2015. So it is perhaps unsurprising that a newly launched site called Clean Reach is aiming to tap into the power of crowdfunding to finance wave, tidal and offshore wind energy projects…[Co-founder Stephanie Thornton believes the site can be] a useful source of new finance for a sector that struggles to raise the capital needed to overcome a 'valley of death' between demonstration and commercialisation…[It] launched in February and so far has five projects from NorthAmerica and Scotland seeking an average of around £3,000 in funding…Clean Reach projects do not offer an equity stake in the project or returns in the future. Instead, it follows the Kickstarter and Indiegogo model of giving prizes and perks to contributors…” click here for more

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