Hot on the heels of Westmill another co-op launch - Promising a greener way to grow your money, a UK Herefordshire-based woodfuel cooperative is now seeking members to help fire up its landmark scheme.
Woolhope Woodheat is paving the way in renewable energy by becoming the country’s first cooperative to heat organisations with locally sourced woodchip and is now looking for an injection of cash from people to get the scheme underway.For a projected return of 6.1% to 8.7%, plus a say in how the cooperative is run, members are now invited to make a difference by purchasing community shares in the cooperative, which aims to reduce carbon emissions and bring local woodlands back into management.
David Straker, Woolhope Woodheat board member, comments: “This is a fantastic way to invest your money in something that will benefit the local community and with investment opportunities from £250 to £20,000 our community share offer is suitable for everyone.
“With community shares starting so low, it will appeal to those looking to invest for the very first time, while allowing individuals to put their cash towards a project that will make a real difference locally and enjoy a generous return. “Woolhope Woodheat is about more than making money, as an ethical investment opportunity we’re allowing people to make a real difference to the environment by bringing local woodlands back into management and learning how to swap our dependence on fossil fuels for a low carbon alternative.”
As Woolhope Woodheat grows, it is estimated that 2,000 tonnes of local wood will be used, saving around 900 tonnes of CO².
Woolhope Woodheat emerged from the work of Fownhope Carbon Reduction Action Group (CRAG), a grassroots carbon conscious community group, who teamed up with Sharenergy, a not-for-profit organisation which helps communities find, build and own renewable energy generation. The project is part funded by the European Union (EAFRD) and Defra through the VITAL Herefordshire LEADER programme.