Offering provided an opportunity for citizens to invest as little as $100 to support Green Bank’s mission to confront climate change through Eversource’s Small Business Energy Advantage Program
Hartford, CT (May 18, 2022) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, has closed their spring crowdfunding investment offering, successfully bringing their total raise to $303,635 this year. This offering is the second-of-its-kind, continuing the success of a January offering, made possible through a partnership with Raise Green, a regulation climate tech marketplace for local impact investing. The Green Liberty Notes allow citizens to invest in the Green Bank’s mission to confront climate change with as little as $100.
“In total, we have raised more than $300,000 from everyday people who want to support our mission and small business energy efficiency, using lower minimum investments,” said Bryan Garcia, President and CEO of the Green Bank.
The Green Liberty Note was created as an investment companion to Green Liberty Bonds, which have been offered in $1,000 minimums to retail and institutional investors through brokerage firms. To attract more investors, the Notes program offers one-year maturity notes, with $100 minimums, that are easy to purchase through an online platform without a broker. To date, 86 investments of $1,000 or less have been made.
The latest offering’s coupon, which is set with each new issuance, was 1.50%. Future issuances are anticipated quarterly, with summer and fall offerings in the works.
“With a rate on par or better than a comparable term certificate of deposit, and much better than a traditional savings account, we are encouraging investors to add a Green Liberty Note to their portfolio because it earns a solid return and makes a difference for small businesses making their operations more energy efficient,” said Bert Hunter, Executive Vice President and Chief Investment Officer of the Green Bank.
Investment by everyday citizens in Green Liberty Notes supports Eversource’s Small Business Energy Advantage (SBEA) program, administered through the Conservation and Load Management Plan, which helps small businesses reduce their energy consumption through deploying energy efficient equipment. As a result of the climate benefits associated with this program, the offering was reviewed and verified for its environmental attributes by Kestrel Verifiers.
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