Turbine specialists Earthmill close fund a week early

Earthmill directors Steve Milner, left, and Mark Woodward at the site of a turbine in Sicklinghall, near Wetherby

Earthmill directors Steve Milner, left, and Mark Woodward at the site of a turbine in Sicklinghall, near Wetherby

First published in Business news
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WETHERBY wind turbine specialist Earthmill has raised more than £1.2 million through the UK’s first crowd-funded investment aimed at farm-scale turbines.

The fund, set up to allow people to invest in wind turbines, has closed a month ahead of target, just eight weeks after it was launched.

Mark Woodward, commercial director of Earthmill, said: "We were convinced the idea to open up the investment option to people in the community who would not ordinarily have the opportunity to invest in a wind turbine would be well received.

"The number and broad range of investors goes to show that there are large numbers of the population that support the use of wind turbines to produce clean energy.”

“The fundraising will allow us to invest in five additional small-scale turbines on suitable land."

The fund guaranteed investors returns of 7.25 per cent per annum over three years and the minimum investment was just £50 with loans secured against five operational farm-scale turbines across Yorkshire.

Comments (1)

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1:44am Tue 2 Sep 14

ColdAsChristmas says...

Now pray for wind or I don't know how you will guarantee that 7.25% PA.
Unless the good old tax payer is underwriting the scheme that is?
Now pray for wind or I don't know how you will guarantee that 7.25% PA. Unless the good old tax payer is underwriting the scheme that is? ColdAsChristmas
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