CREW Energy is pleased to be launching our first ever share offer! It is also the first ever urban community energy heat pump project; join us and become an eco-pioneer.
We are selling shares for the upfront installation costs of four air source heat pumps at Devas Youth club in Battersea. This funding will help us reduce the carbon footprint of our community, save Devas Club money on its running costs and allow us to invest in climate education and outreach for the next generation.
Offer opens: 15/12/2020
Offer closes: 31/01/2021
Minimum investment: £250
Maximum investment: £5,000
Company Name: CREW Energy Limited
Company Type: Community Benefit Society
Registration Number:
7286Registered under Co-operative and Community Benefit Societies Act 2014
64 kW Heat Pump Power
The project has signed a contract with the Devas Club to install four air-source heat pumps in their building off Lavender Hill. This renewable heat will supplement their traditional gas boiler and reduce the club’s reliance on gas heating by up to 90%.
17 tonnes CO2e avoided annually or £1,000 on energy bills!
This is the third phase of our project with Devas Club and will truly put them on the path to sustainability and way beyond their plan to reduce carbon emissions by 5% over three years. Installing heat pumps will cut carbon emissions by around 70% (25 tonnes of CO2e per annum!) and improve local air quality through a reduction in gas flue emissions, which include carbon monoxide, nitrous oxides and particulate matter. All while reducing Devas Club’s running costs by 962 per year!
Fighting fuel poverty and raising climate awareness
Beyond carbon and money savings, we are also partnering with Devas Club to make it into a sustainability learning hub for the local community. We will use surplus income from this project to run Eco Action games events to educate children in a fun and interactive way; energy cafés that will help the fuel poor and vulnerable and; finally, seminars to help you, the local community, understand what measures you can take to live a more sustainable life.
What would you have to invest in CREW to:
£100 - offset the CO2 impact of drinking 28 bottles of wine every year
£250 - offset the CO2 impact of drinking 380 lattes every year
£500 - offset the CO2 impact of drinking 3.8 pints of foreign lager every week
£1,000 - offset the annual impact of a return flight from London to Instanbul
£2,000 - offset the annual CO2 impact of driving an electric car for 7600 miles
£2,600 - offset the CO2 impact of the electricity consumption in an average UK household
£3,700 - offset the CO2 impact of a vegetarian diet
£5,000 - offset the annual CO2 impact of flying in a return long haul flight (London to Los Angeles) in economy
£14,000 - offset the annual CO2 impact of the average UK citizen
£1,426,760 - How much Mark Zuckerberg would have to invest to offset his annual CO2 impact
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Tim Watson - CREW Co-Founder and Voluntary Director
Tim is a senior consultant at a business intelligence consultancy specialising in the financial services sector. Tim is passionate about climate change and sustainability and has been involved in environmental activist groups for the last ten years. Previously the chair of Wandsworth Friends of the Earth, he was one of the founding members of CREW and is keen to bring community energy to Wandsworth. |
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Toby Costin – Voluntary CREW Chair and paid consultant
Toby comes from a Utility background with 18 years of experience in the energy sector. In his career, he has been responsible for risk managing three power stations and setting up energy businesses for a number of banks and trade houses. In the last 7 years, Toby has focused on green energy and runs his own consulting business in conjunction with his duties for CREW Energy. Toby joined CREW in 2015 to help develop our sustainability projects and has been management lead on each project since, nine to date. He is particularly interested in how new technologies and innovative models can offer solutions in the fight against climate change. Toby's passion for community energy stems from a desire to challenge climate change while offering opportunities and support to all members of the community. A desire to build a greener and fairer society. |
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Alex Hartley – Voluntary CREW Director
Alex is a member of CREW Director and co-founder of our sister group, SELCE (South East London Community Energy), where she is also one of the architects of their fuel poverty alleviation and energy efficiency initiatives. She has 16 years of experience managing sustainability initiatives at senior level in business and the third sector. She has developed a number of programmes to tackle fuel poverty and is invited to speak at many sector events. She is vice-chair of Community Energy London and has extensive experience in the green transport sector. She holds several other volunteer directorships and previously worked for the Energy Institute. |
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James Mummery – Voluntary Non-Executive Director
James is Wandsworth born and bred, passionate about making London a sustainable city. He worked as a youth facilitator, volunteer coordinator and project manager in the charity before moving to Transport for London (TfL). Now he manages city wide infrastructure upgrade projects and has recently completed an MSc in Project and Enterprise Management at UCL. |
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Amy Reid – Voluntary Non-Executive Director and Communications Lead / Paid consultant
Amy is a translator-turned-project-manager. She is passionate about the environment and sustainability, putting her language skills to good use in her CREW communications role and helping run our energy cafés in Spanish with the Latin-American community. |
How we use your investment
Your investment will form part of the £50,000 we are raising to finance the upfront capital costs for air source heat pumps to be installed at Devas Club youth centre in Battersea. This project will not only help reduce the carbon footprint of our community by 17 tonnes per year, by supplementing the club’s existing gas boiler, it will also make Devas Club more energy efficient, saving it £962 per year on its running costs.
In return, CREW will generate income in two ways:
CREW will receive the Renewable HeatIncentive(RHI) subsidy from the UK government (£0.0279 per kWh).
The money Devas Club saves on its energy bills will go towards a heat charge payment to CREW (£0.015 per kWh), which is billed every month.
This will allow us to pay our investors a targeted3% interest premium and invest any surplus inclimate education and outreach for the next generation. Simple as that!
Our model assumes we will pay a small portion of capital back each year, starting from year 3. This means you get your capital back to invest in other important causes, but also give you a little more flexibility should you wish to withdraw your funds. Here is an example of what to expect if you invest £250:
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| Business Plan |
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| Society Rules |
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Risk Summary
● Shares in a Community Benefit Society (CBS) are not regulated under the Financial Services Act (FCA) and therefore are exempt from protection under the Financial Services Compensation Scheme (FSCS). A CBS is also exempt from the 2005 Prospectus Regulations.
● A portion of the Society’s income is derived from subsidies from the Renewable Heat Incentive (RHI), a Government-funded incentive scheme to encourage the uptake of heat pumps. The Society’s income stream is dependent on future Governments honouring this scheme for the next 20 years.
● Returns are based on financial modelling at the beginning of the project and reliant on assumptions for consumption, inflation and fuel input costs.
● Community Shares are illiquid assets and can only be redeemed if the Society has the liquidity to re-purchase the Shares.
Shares are only transferable in the event of death. In all other circumstances, they need to be sold back to the Society.
This list is not necessarily comprehensive, and you should consider other risks that may impact the value of your investment.
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