Today is a big day for CoPower and the green investing industry.
We are thrilled to announce that new and existing shareholders, including Fondaction (a Quebec pension fund), the Royal Bank of Canada and others, have invested $2.0 million in a round of equity financing with CoPower. This financing will help us build on our current momentum and provide clean energy investment options to everyone across Canada.
We launched CoPower in 2013 recognizing that the transition to a clean energy economy is an enormous investment and financing problem, and that we could all use our portfolios as part of the solution. We saw that our investments could be both profitable and good for the planet.
Since then we have raised over $12 million from Canadians for loans to clean energy projects via our fintech platform. These funds are used to build clean energy projects across Canada, including LED lighting retrofits, solar installations, and geothermal heating and cooling for homes.
And while we are proud to be on the leading edge of innovation, we are also thrilled to be working with well-established financial institutions, including our previously announced $1.0 million revolving credit facility with Vancity Capital Corp.
With this corporate backing from new and existing institutional investors, we will continue to provide people like you across Canada with an easy way to put the planet in your portfolio. In particular, our flagship $20 million Green Bond that was launched in March, offers up to 5% interest annually over 5 years, and is an easy way to start as a clean energy investor.
Our unique fintech approach, coupled with our work alongside traditional institutional partners, has CoPower poised for a big year ahead.
If you haven’t already, I would encourage you to take your first step and ‘Get Started” as a clean energy investor today.
David, Raphael, Joey, Trish, Lauryn, Jonathan, Matthew, Tobias, Ben, Junaid, Valerie, Murat, and Jennifer