This website is only for Corporate clients who may wish to raise financing through Abundance. It is not aimed at, or intended for, retail investors and it should not be considered an invitation or inducement to invest.
In July 2017 we helped United Downs Geothermal raise £4.4 million from the public to build the UK’s first commercial geothermal electricity power station near Redruth in Cornwall – one of the most successful investment offers on Abundance so far.
The issuer, Geothermal Engineering, had already received £2.4 million funding from Cornwall County Council and a £10.6 million regional grant from the European Regional Development Fund; they were also keen to give local people a chance to get involved with the project.
Abundance structured a specialised construction Debenture with an 18-month term and a return of 12% annual interest, to allow the technology’s feasibility to be fully tested. Over the course of the 18 months a production well and an injection well are being drilled and tested before the power plant is constructed above ground. Throughout the project Abundance investors have first ranking security over the assets of and shares in the company.
The geothermal resource beneath our feet is extensive, and, if properly managed, inexhaustible. The granite rocks of Cornwall have the highest heat flow in the UK and are the best place for the development of geothermal power. This pioneering project, at the cutting edge of geothermal technology, attracted very strong press interest, including an exclusive news story in the Guardian.
It also met with exceptional demand from our investors – attracting over £1 million in investment in its first weekend and closing within 15 days.
We are keen to work with like-minded companies and public sector organisations who want to engage people through a direct investment offer.
CONTACT USCorporate Clients should consider all risks before raising capital through Abundance and take independent advice where necessary. As with any investment product there are risks. For any financing raised, part or all of the investor's invested capital may be at risk and any return on their investment depends on the success of the project invested in. Abundance investments may not be readily realisable (and their value can rise or fall). Financing may be secured or unsecured. Estimated rates of return can be variable and estimates are no guarantee of actual return. Specific risks will apply in relation to each financing product.
Abundance is authorised and regulated by the Financial Conduct Authority (525432)
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