The current share issue closes on the 31st October.
The Whitby Esk Energy Prospectus rev B Aug 2012 details and contains an invitation to invest in shares in Esk Energy (Yorkshire) Limited hereafter referred to as “Esk Energy”. The current prospectus replaces the initial prospectus the Whitby Esk Energy Prospectus rev A Dec 2011 which provided information about the project between July 2011 – July 2012. Further information can be found in the Shareholder Information section.
Esk Energy was established in 2008 by Esk Valley residents to fund Whitby Esk Energy:a small-scale hydroelectric project to support community carbon reduction in the Esk Valley. The funds raised by the share issue will be used to install a 50kw hydro electric turbine, using an Archimedes screw, on the River Esk at Ruswarp, near Whitby.
Now is your chance to act to offset your carbon emissions and help promote renewable energy. You can buy shares in this exciting project for as little as £250 (the minimum amount under this share offer) up to a maximum of £20,000. Whilst interest will be payable (once the project is established) investing in Esk Energy should be seen as a social investment, not a financial investment. You will not be able to withdraw your money in the first five years, from that point shares can be withdrawn subject to the Directors’ approval and six months notice.
The aims of the Ruswarp Hydro installation are twofold:
1. To produce ‘green’ energy thereby reducing carbon emissions.
2. To produce a regular income to finance continuing carbon reducing projects.
Examples of how Esk Energy will use any surplus money generated by Whitby Esk Energy:
- Developing and operating a grant system towards the installation of solar, wind and water energy generating systems in the valley.
- Promoting green energy educational programmes.
- Pioneering green energy apprenticeships.
All permissions are in place, the funding has been secured and the contract has now been signed.
This is where you come in.
You can still buy shares as the more shares that are bought the quicker the loans can be re-paid leaving more income for further community projects and for share holders.
Remember, the current share issue closes on the 31st October.
Remember, investing in Esk Energy should be seen as a social investment, not a financial investment. The prospectus is an important document and requires your detailed attention. If you require any advice you should consult with an independent financial adviser authorised under the Financial Services Act 1986.