CREW is aiming to raise £50,000 throughout January 2021 to fund a renewable heat project in south-west London with our longstanding partners, Devas Club. The share offer launched on 14 December 2020 and will be running throughout January 2021. On 8 January 2021, we reached £10,000 of our investment target!
Shareholders will entirely fund the cost of 4 community-owned heat pumps to be installed at the youth club and, in return, will get a targeted 3% return on their investment.
Not only will these heat pumps generate huge energy savings in the Devas building – £962 per year in fact – they will reduce carbon emissions in the area by 17 tonnes CO2e annually and provide CREW with a means of hosting yet more climate outreach and education across Wandsworth, Merton and Lambeth.
A challenging but pivotal year for a share offer
While community share offers are an established means of funding community energy, ours is the first of its kind in London to focus on renewable heat! Luckily for us, heat pumps have been a hot topic in 2020 through the Government’s Green Homes Grant and the so-called Green Plan, where they were cited as a key element in the UK’s race to net zero by 2050. This certainly made it easier to shout about the green power of the mighty heat pump.
However, in the midst of a pandemic, it sometimes feels like there is, understandably, little room in people’s newsfeeds for a community project. This means we’ve had to work extremely hard all through 2020 to not only combat lockdown delays in surveying the building and quoting for the heat pumps, but also to navigate the fast-paced news sphere (not to mention launching at Christmas time and the Brexit deadline) in an entirely digital campaign!
Find out more about investing in CREW Energy’s community share offer here. Or follow our journey on social media and through our newsletter.