Grimsby Community Energy (GCE) is thrilled to announce an exciting update to its ethical investment opportunity. Ahead of the festive season, the open share offer will go live on the Ethex platform, making it easier than ever for individuals and organisations to join the movement for sustainable energy in our region.

In a bold and confident step, GCE has also increased its target interest rate for all members from 5% to 6%, enhancing the financial appeal of its share offer.

Dr. Vicky Dunn, Managing Director of GCE, shared the reasoning behind the decision:

“We’ve rigorously revisited our financial models, with the invaluable support of Ethex. Our previous projection, based on a 5% interest rate, showed a robust financial outlook with £1M in the bank after 25 years. While this provided a significant cushion for unforeseen circumstances, we recognised that a 6% interest rate is crucial to attract the level of investment required to realise our ambitious plans.

“With the revised model, we still maintain a healthy £700k cash reserve at the 25-year mark, offering ample security. This adjustment ensures that all members—existing, new, and future—can enjoy a more competitive return on their investment while supporting our mission to reduce energy costs and carbon emissions locally.”

The decision to increase the interest rate aligns with GCE’s commitment to providing value to its members and strengthening the community benefit society’s financial foundation. By launching on Ethex before Christmas, GCE aims to reach a broader audience of investors passionate about sustainable and ethical initiatives.