Fund a coal-to-rubbish conversion and earn 8%

Written by Rebecca O'Connor on 31st January 2018

Want your profits green not mean? Abundance, the ethical investment platform, has just launched a 5-year bond that will pay investors 8 per cent a year – tax-free if you put it in your ISA.


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The £5 million that the platform hopes to raise for Atlantis Future Energy, the marine energy company backing the bond, will finance the conversion of a former coal burning plant to run on waste-derived fuel instead. Some of the funds will also be used to develop the Wyre tidal power and flood protection scheme in Lancashire, England.

“Green investment has come of age and stepped out of its niche.

Bruce Davis co-founder and joint managing director of Abundance said: “Abundance continues to give our investors the chance to support a broad spectrum of green energy projects with a range of risk/reward profiles. They include established grass roots technologies from independent generators such as Monnow Valley CHP as well as exciting new innovations like this new offer from large players like Atlantis. In the past year our customers have also put their money into tidal, geothermal, biofuels and energy efficiency.”

For Abundance, the offer is not only a move into exciting new technology and a step up in scale, but a progression from its involvement with the government’s Green Finance Task Force.

About Atlantis

In December 2017, AIM-listed Atlantis announced plans to buy Uskmouth power station near Newport, Wales, from SIMEC Energy part of the GFG Alliance. Atlantis now intends to build a global portfolio of sustainable energy generation assets in partnership with GFG Alliance,starting with the conversion of Uskmouth power station from using coal as its fuel to sustainable energy pellets derived from industrial and commercial waste which would otherwise go to landfill.

Funds from this offer will support this project and will also be used to develop Atlantis’ plans for the Wyre tidal power and flood protection scheme in Lancashire, England.

This new investment offer follows Abundance’s successful fundraise in June 2017 for Atlantis whose flagship tidal project, MeyGen, off the coast of Scotland, is the world’s first multi-megawatt, multi-turbine tidal power project.

Davis added: “Green investment has come of age and stepped out of its niche. As advisers to the government on Green Finance, we expect to see more deals like this from visionary businesses driving the transition to a sustainable economic future. Abundance has shown that individual investors have the reach to support clean growth projects across the UK and now we want to show we also have the scale to make a significant difference to greening the UK’s energy supply.”

Tim Cornelius, CEO, Atlantis Resources Ltd, said: “We are delighted to work with Abundance again to offer ordinary investors the opportunity to help us realise our ambitions to grow our diversified sustainable energy business and share in its financial returns.”

How will I get my money back?

When the conversion process is complete, Uskmouth power station is expected to operate at a generation capacity of 220 MW. The fuel will be supplied under a 20-year fixed price agreement by a joint venture between the GFG Alliance and the N+P Group which owns the processing technology. The power generated will be sold under 20-year power purchase agreements to another GFG Alliance company as well as the joint venture between the GFG Alliance and N+P Group.

Uskmouth will comply with the latest best practice on emissions, while the fuel pellets to supply the plant will be produced in the UK using modern technology and meeting a tightly controlled specification which ensures they are suitable for combustion.

To download the offer document and invest in Atlantis Future Energy please visit www.abundanceinvestment.com.

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