UK-based renewable energy platform Ripple is now nearing £375,000 in funding through its latest equity crowdfunding campaign on Seedrs. The investment round, which was launched last month, was originally seeking £350,000 and has so far attracted more than 780 Seedrs investors.
As previously reported, Ripple was founded in 2017 and its vision is to create a renewable energy future owned by people, not companies.
“People want to reduce their carbon footprint and they want low, stable electricity bills. Until now rooftop solar was the main way to do it, but it can be expensive and not suitable for people who rent or live in flats. Ripple is a clean energy ownership platform with an aim to enable people to own new, large scale wind farms and have the clean, low cost, stable priced power they produce supplied to their homes.”
Ripple further claimed that it is a cheaper, more flexible, and fully portable alternative to rooftop solar. It opens up clean energy ownership for people to who to rent or live in flats or plan to move home in the future, as well as those that can’t afford the £4000-8,000 cost of installing solar.
“Ripple’s mission is to make clean energy ownership affordable and accessible for everyone, everywhere. We’ve been selected to take part in Free Electrons 2020, the global utility start up program. This could enable us to pilot our ownership model outside the UK.”
Funds from the latest Seedrs campagin will be used to continue the growth and development of the Ripple platform. Ripple is now offering 6.21% in equity at a £5.3 million pre-money valuation. The funding round will close at the end of December.
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