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Hi everyone.
I’m hoping that you don’t think this is too promotional (even though that’s exactly what it is!) but I’d really like to share the details of a community share offer with you as I feel that some in the group may find it interesting.

£130,000 of investment shares are being offered by Charge My Street, a community benefit society based in Lancaster that installs and maintains public EV chargepoints.

The share offer will see 200 new electric vehicle chargepoints installed in Cumbria, Lancashire and County Durham with an aim to encourage more drivers to make the switch from petrol and diesel engines.

The scheme is part of a program funded by Innovate UK, the UK’s innovation agency, to overcome one of the main barriers to adoption of EVs, which is a lack of publicly accessible chargepoints.

This is a particular issue where people do not have their own driveways or are in rented accommodation, and in rural areas that may be a lower priority for commercial chargepoint providers. Charge My Street’s ultimate goal is for every home to be within a five-minute walk of a chargepoint.

Shares have gone on sale today and the offer closes on 31 March, with a minimum investment of £100 and a maximum of £15,000.
Daniel Heery set up Charge My Street after he realised that, living in a terraced house in Lancaster, he would not have anywhere to charge the electric car that he wanted to buy. Knowing that local venues could host charging equipment and being aware of community shares, he obtained funding from Innovate UK to set up the community benefit society.

Further funding from Innovate UK along with South Lakeland District Council and Carlisle City Council has resulted in the latest project expanding the chargepoint network across the North in partnership with ten other organisations, all working to drive forward the EV revolution.

Investors in a previous share offer have been attracted by the opportunity to help drive forward new technology, reduce CO2 emissions, support initiatives that benefit local communities and expand the charging network for their own use. Now’s a great time to invest in chargepoints. The number of EVs in the UK grew by 32% in the past year alone, but chargepoints are lagging behind.

Michael Gibson, a previous investor in Charge My Street, said: “I strongly believe that electric vehicles should be accessible by all. Charge My Street, as a not-for-profit, is making this happen in my community and I was keen to support them. At the same time their SEIS tax-relief gave me some added financial benefit for doing so, which made the decision even easier."

Potential investors can find out more about the share offer and the program to expand EV infrastructure at the charge my street website.
 
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