The Low Carbon Innovation Fund invests in Solar for Schools (Jan 07, 2016)
The University of East Anglia's Low Carbon Innovation Fund (LCIF) has invested into Solar for Schools. LCIF joins an exclusive syndicate of experienced venture capital professionals and entrepreneurs who are investing in Solar Options for Schools Ltd, who run the Solar for Schools initiative. LCIF contributed just under half of the six figure funding round. The investment will be used to accelerate the development of additional funding options for schools, such as online fundraising and investment-style crowdfunding, more online learning materials related to renewable energy for students, and international expansion.
The Low Carbon Innovation Fund is a venture capital fund for businesses in the East of England, which has stimulated over £65m investment into a range of businesses in East Anglia. It supports the region's low carbon economy through venture capital investment in growing SMEs.
LCIF invests into promising companies who either supply low carbon goods and services or make operational changes with a clear carbon reduction impact. It can invest between £25k-1m in growing business aiming to reduce its carbon emissions. LCIF is proud to be able to support a business that is leading the way in helping schools lower their carbon footprint.
James Griffiths, Programme & Fund Manager of the Low Carbon Innovation Fund said:
"We are delighted to be investing in Solar Options for Schools Ltd. The company will be an enormous help to schools wishing to reduce their carbon footprint and energy bills in the long term and demonstrate to the next generation that renewable energy works for a more sustainable lifestyle. With the planned cuts to solar subsidies, organisations running services such as SolarforSchools.co.uk are key in helping the UK achieve its carbon emission targets."
Schools worldwide have the potential to reduce carbon emissions by 40-50 million tonnes of carbon a year by installing solar, but few of them have the time, experience or funding to do so. Solar for Schools partners with schools to enable them to have solar PV installed, by managing the entire process and offering a variety of funding options appropriate to the schools' needs.
Robert Schrimpff, co-founder of Solar for Schools, said:
"We are delighted to have the backing of LCIF. Our goal is to enable as many schools as possible to contribute to reducing global warming by de-risking the process and managing the systems for them long term. LCIF invested on the condition that we would provide schools with a fair long-term solution and that is exactly what we set out to do."
To see how much a school near you could contribute to reducing global warming and the UK's dependence on energy imports visit Solar for Schools at www.solarforschools.co.uk