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2023 EIIS Fundraising Update

 

In 2023, Green Crowd had another successful year raising funds under the EIIS scheme to help fund two companies.

 

For the second year running, Green Crowd raised funds for Green Tech Distributors a company formed in 2022 which was established to carry on the importing and distribution of PV solar equipment as an Industry Specialist Distributor. The company was founded to address the challenges of the supply chain issues experienced in 2022 due to the Ukraine Energy Crisis. Existing distributors were found their supply channels curtailed because of UK local demand, Brexit & Customs delays.

In 2023, Green Tech Distributors successfully traded and secured initial supply agreements in 2023 with a number of PV installers for the supply of a baseline pipeline of 3 MW equivalent of PV equipment equating to €1.6m of orders. This baseline order book will provide stability in Green Tech Distributors initial operational years as relationships with other customers are developed.

For its PV Installer customers, it will provide more competitive pricing, direct delivery to the customers installation sites and a Co-Op based pricing and rebate structure.

The Irish Market has a limited supply and choice of Inverters and Batteries from existing distributors. Green Tech Distributors will be introducing a new range of products with longer warranty periods that will differentiate its products and provide greater choice.

Batterybox Technologies also raised funds through Green Crowd for the second time. Batterybox Technologies was established to install battery storage facilities at SME commercial premises throughout the island of Ireland.

The systems are installed at commercial premises under ‘Battery as a Service’ service agreements (“BaaS”) and Power Purchase Agreements (“PPA’s”) whereby Batterybox installs the systems and meets the upfront capital cost of installation.

Batterybox designs bespoke service agreements allowing the customer to apply the savings in electricity costs to pay for the Battery system over the term of the agreement. The customer takes ownership of the system for a nominal amount at the end of the term of the agreement.

Batterybox identified the opportunity for Battery back-up storage facilities for commercial solar PV customers to avoid power outages, to benefit through arbitrage and time of day pricing of electricity to make savings, as well as the opportunity to provide Grid Support by providing a VPP facility (Virtual Power Producer) from its distributed commercial customer base.

 

Green Crowd was recently granted authorisation from the Central Bank of Ireland to act as a regulated Crowdfunding Service Provider. This will allow us to offer a wider range of investment opportunities to our investors. Register as an investor at www.greencrowd.ie to be kept up to date with our investment opportunities in 2024 and beyond.

For companies who are interested in raising funds in 2024, get in touch today for more information. Email us at info@greencrowd.ie or call 01 912 0345.