Clean World Capital and CarbonDesk advises Freetricity on the funding to offer free solar in the UK

September 26, 2011     Clean World Capital (“CWC”) and CarbonDesk have acted as joint advisors to Freetricity on fundraising for a UK solar scheme offering businesses, charities and community groups the chance to go green for free.

Freetricity was founded and is managed by Paul Williams, Chief Executive Officer, and Ben Way, seasoned entrepreneurs and environmentalists, both of whom have appeared on Channel 4’s TV programme “The Secret Millionaire”.  The initial investment of £30 million is expected to grow as high as £120 million in the next year. The money needed is entirely provided from UK investors to bridge the funding gap for businesses, charities and community groups in UK.   The solar panels are being offered on a first-come first-served basis and interested organisations can sign up at www.freetricityenergy.com. Those who sign up to the deal will benefit from free electricity without the worry of making a large capital investment.

CEO of Freetricity, Paul Williams said:  ‘This fund raising is a key milestone in the development of Freetricity as the UK’s leading provider of free solar systems to both residential and large building owners. Clean World Capital and CarbonDesk have provided an excellent service, in taking us through this successful round of fundraising quickly and professionally as well as being committed like ourselves to the greater environmental benefits this funding will provide.’

The deal marks the first joint fundraising for CWC & CarbonDesk Capital, the advisory unit of CarbonDesk Group PLC. The two firms have been cooperating as strategic partners for the past year to offer a full suite of advisory and trading services in the environmental markets.  CWC is a clean energy finance advisory business focused on arranging capital for sustainable and ethical businesses in the clean energy sectors. CarbonDesk Group PLC is made up of an FSA regulated broker and an unregulated advisor which between them specialises in all aspects of the low-carbon economy from trading emissions to fundraising for carbon reduction projects.

The transaction represents the two companies’ fourth closing for 2011 and takes total equity transactions to well in excess of €100 million across Europe encompassing solar, wind, biomass conversion and waste-to-energy sectors.

CWC partner Mark Augustenborg Ødum says: ‘This deal embodies our vision of bridging the funding gap in clean energy and enabling worthy institutions like schools, churches and charities to embrace clean energy and reduce energy costs in times of scarce funding from traditional sources.’

Harry Beamish of CarbonDesk commented: ‘We are very proud to have worked on such a worthwhile venture. Within the spectrum of fundraising mandates we are working on in renewable energy this stands out as truly encapsulating the ‘triple bottom line’; it will allow participants to actively reduce the environmental cost of energy in this country.’