Reading Hydro Pioneers

by Reading Hydro CBS in Reading, Berkshire, England

£11,325

raised of £15,000 target

36

investors
76% 14 days left
This project is using Flexible funding and will receive all pledges made by December 28th 2018 at 4:44pm

Reading Hydro is raising initial funds to build a hydro-electric scheme at Caversham Weir, and operate it as a community-owned asset.

by Reading Hydro CBS in Reading, Berkshire, England

Reading Hydro Community Benefit Society

 

Energy has been drawn from the River Thames for a thousand years, and Reading Hydro Community Benefit Society (CBS) plans to re-take advantage of this power for the benefit of Reading. 

Based beside Caversham Weir, the scheme will be using cutting-edge hydro technology to generate electricity and will include improvements to View Island with a new natural fish and eel pass. 

Education is at the core of the project, with open information and resources for local schools to be made available to improve awareness of green energy. 

Volunteer-led, our Directors and Advisory Board are members of the Reading community who are passionate about making a sustainable difference by using clean energy to invest back into the local community. 


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 our wonderful volunteers.

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.

A Bit More on the Benefits of Reading Hydro 

The installation of the turbines will generate  both renewable electricity and income to support the local community. As Reading Hydro is a Community Benefit Society the profits will be kept for use by the community, rather than giving extravagant rewards to  shareholders in a private company. Profits will be used on other community sustainability projects, after paying shareholders a reasonable return for their investment.

The recent IPCC Special Report on Global Warming of 1.5C clearly states the urgency of action to address carbon emissions. The scheme has potential to generate 260MWh a year. That's enough green energy for 90 homes. 


Our Community

Reading Hydro CBS has a team of skilled directors and volunteers, with a growing membership base and community presences. We're keen to engage with a wide range of interests and communities, from the young to old, making renewable energy open to everyone. Just a few examples of this include workshop sessions with local schools and trips down to the site, talks at Reading Geek Night and the Free Radicals improvised comedy and engagement stalls and Reading Town Meal.

Levels of Investment

£100 or more

12 of 20 claimed

Pioneer early bird bonus

100 shares, share certificate, plus pin badge and a pack of greeting cards, plus interest of 10% paid in shares when project goes live

£25 or more

25 shares and Pioneer button badge

25 shares in Reading Hydro, share certificate and a button badge

£50 or more

50 shares, Pioneer button badge & greeting cards

50 shares in Reading Hydro, share certificate, button badge and a pack of greeting cards

£100 or more

100 shares plus pin badge and greeting cards

100 shares , share certificate, plus pin badge and a pack of greeting cards

£250 or more

10 of 10 claimed

Pioneer Early Bird Bonus

250 shares, share certificate, pin badge, greeting cards and website acknowledgement, plus interest of 10% paid in shares when project goes live

£250 or more

Pioneer acknowledgement

250 shares, share certificate, pin badge, greeting cards and website acknowledgement

£500 or more

Pioneer acknowledgement

500 shares, share certificate, pin badge, greetings cards, and website acknowledgement. You can also have your name on the hydro site.

£500 or more

7 of 10 claimed

Pioneer acknowledgement pus early bird bonus

500 shares, share certificate, greetings cards, pin badge and website acknowledgement, plus interest of 10% paid in shares when project goes live. You can also have your name on the hydro site.

£1,000 or more

2 of 5 claimed

Pioneer Project visit and Early Bird bonus

1000 shares, share certificate, greetings cards, pin badge and website acknowledgement, plus interest of 10% paid in shares when project goes live. You can also have your name on the hydro site and a personal invitation to visit.

£1,000 or more

0 of 10 claimed

Pioneer Project visit

1000 shares, share certificate, greetings cards, pin badge and website acknowledgement. You can also have your name on the hydro site and a personal invitation to visit.


Let's make 'Reading Hydro Pioneers' happen