On 16 June, Grimsby Community Energy is thrilled to announce the launch of its fourth community share offer to the public. This endeavour aims to raise an impressive £328k in funds, enabling the installation of 408kW of solar PV on both the CATCH industrial training center and a YMCA Humber building. By collaborating with CATCH, an integral player in the decarbonisation of heavy industry around the Humber, we feel aligned with our mission. Additionally, the YMCA Humber supports young individuals in the area, making this partnership all the more meaningful.
The benefits of this project extend beyond clean energy production. Our new customers will enjoy energy bill savings, empowering them to allocate more resources towards their respective missions. Moreover, these two projects combined will prevent the emissions of approximately 71 tonnes of CO2 annually.
This initiative builds upon the success of our existing 200kW solar PV system, which operates across six community buildings in Grimsby. Since our registration as a community benefit society in 2016, when we raised our first community share offer, we have grown, learned, and developed significantly. In this current endeavour, we are fortunate to have received funding from the Cooperatives UK Booster Fund, the Northern Powergrid Net Zero Communities Fund, and the UK Shared Prosperity Fund via North East Lincolnshire Council.
The funding we have secured will cover the costs associated with developing the offer, obtaining the Community Shares Standard Mark, and conducting the fundraising period. While we have funding for part-time staff, we greatly value the contribution of volunteer hours. We are also delighted to have Martha and Stacy, two final-year business and marketing degree students from Grimsby Tec Partnership, as placement students. Their assistance has been invaluable, encompassing tasks such as event setup and management, business planning, office administration, member newsletters, and website content creation.
Should we achieve our minimum target, we will have the opportunity to access an institutional investment of £25k from Co-operatives UK, as well as a £20k grant from our local council. This grant not only provides a welcome boost but also exemplifies how community energy can leverage relatively small amounts of funding to generate multiplied benefits.
We are excited about the possibilities this new community share offer brings, as we continue to make a positive impact on Grimsby's energy landscape. Together, we can create a sustainable future for our community while supporting vital local organisations and empowering our customers to thrive.
Please see our website for details on how you can invest.