08 May 2014

UK’s first energy-focused social investment fund Ignite announces ‘Big Energy Idea’ winners

• The Big Energy Idea will provide 10 social entrepreneurs with an individual package of investment readiness support and the potential to access a minimum £50,000 funding over the next year
• 10 successful ‘Big Energy Ideas’ were announced during an event on 30^th April, held in Windsor
• The Big Energy Idea is run by Ignite, a fund that will invest £10 million over 10 years, backed by Centrica

As part of the tailored business support on offer (which brings together industry expertise, The Henley Business School, The Good Analyst, UnLtd and confidence coach Peter Nicholas) the primary objective will be working to get each venture investment ready in order to grow its social impact. The business will be able to gain access to between £50,000 and £2 million from the Ignite fund.

The 10 successful Big Energy Ideas, which will receive support and access to investment, are:

• Brackenburn: Based in the South West, Brackenburn has created new technology that enables the use of locally harvested brack to produce briquettes for wood burning stoves.
• Co-Wheels: Based in North East, UK wide, Co-Wheels is the first registered social enterprise that focuses on making personal mobility accessible for lower income communities while reducing car use.
• Energy Box: Based in Soho, Energy Box will deliver £100 worth of energy reduction measures per household in fuel poverty each year, while employing people from the same communities to manage and maintain the system.
• Energise London: In four of London’s 33 boroughs, Energise London operate free energy savings advice helplines and train employees to recognise and address fuel poverty.
• Energy Solutions Malvern: Based in West Midlands, Energy Solutions Malvern provide renewable energy installations to customers who enjoy return on investments and environmental benefits from a reduction in their carbon footprint.
• Gower Power: Based in Wales, Gower Power will build solar farms, providing green electricity for households and a local school. Using the Feed In Tariff income they will grow affordable, local produced food on the farm owned as part of the Co-op structure.
• GrowUp Urban Farms: Based in London, GrowUp Urban Farms will create urban farms that use sustainable technology to grow food for local communities that lack open spaces in a way that is energy efficient.
• Health Squared: Based in North Yorkshire, Health Squared sell wood briquettes as a commercial venture for public good. Working with local health partners, their public good is providing renewable energy to all customers and free briquettes to targeted older peopel to keep them warm.
• Rekindling: Based in London, Rekindling will support the rehabilitation of offenders by making what would otherwise have been waste wood into bags of firewood and kindling which will be sold commercially.
• Sust-It: Based in the South East, Sust-It is a customer focused energy use comparison and advice website that assists low income individuals and improves energy literacy.

Centrica CEO Sam Laidlaw, who announced the winning ideas, said:

“I believe that the answers to society’s challenges do not lie solely with the private sector or the public sector, but with social entrepreneurs, in communities, and in cross-sector partnerships. I am passionate about the potential of each of these businesses – supported by us - to find some

One of the Big Energy Idea winners, Kate Hofman of GrowUp Urban Farms said, “Being successful in the Big Energy Idea will make a massive difference to us. We’ll get specialist business support and hopefully we’ll secure the investment we need from Ignite to enable us to scale our business and create jobs for the people who need them the most.”

Visit ignitesocialenterprise.com/challenge to find out more and watch the video of the winners’ stories.

Ignite is investing time, money and support in energy-related social enterprises, and is aiming to invest a minimum £10 million over 10 years with individual investments ranging between £50,000 and £2 million. The profits from Ignite’s investments will be reinvested and recycled to help more social enterprises and ventures grow and scale up their work. Ignite has already committed £3.4 million of the fund across four projects that will be creating social change in the UK.