CoPower, an investment crowdfunding platform that targets the clean energy sector, has announced that it has raised $850,000 in seed financing led by RBC and Innovation Support. The company has been in operation for several years and has helped to raise over $1 million in project loans to date. The seed funding will be used to accelerate platform growth and incorporate new technology that will launch in early 2016. CoPower is not alone in its effort to crowdfund renewable energy projects. There is a small, but growing, coterie of platforms targeting clean energy around the world.
David Berliner, founder and CEO of the Canadian platform, states it is his mission to “democratize impact investing” and to “unlock capital for climate change.”
“Our vision is that every Canadian should be able to own and invest in clean energy, and we’re thrilled to have assembled a group of shareholders who will help drive that vision forward.”
President of Innovation Support, James Van Bergh, believes that for profit firms are the path to a final solution on many significant challenges. “CoPower sits at the intersection of exciting trends in investing and energy. Taking a market-based approach, CoPower is driving sustainable solutions to reduce reliance on fossil fuels and is empowering individuals to do the same,” states Van Bergh.
RBC, Canada’s largest financial institution, backed CoPower as it was making impact investing accessible to the public.
“CoPower is building a marketplace for investments that deliver blended social and financial value”, said Sandra Odendahl from RBC.
Investment opportunities are available now but only for accredited investors.