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Offerings provide 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 (October 31, 2022) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, has closed four crowdfunded investment offerings this year, successfully raising more than $800,000. This offering was the second consecutive sell-out, with investor demand exceeding the maximum investment goal of $250,000. The Green Liberty Notes allow citizens to invest in the Green Bank’s mission to confront climate change with as little as $100. These offerings are made possible through a partnership with Raise Green, a climate tech marketplace for local impact investing.
“With the first year of Green Liberty Notes offerings in the books, we are pleased to see repeat investors and familiar names support this cause, as well as a growing number of new investors with each offering,” said Bryan Garcia, President and CEO of the Green Bank.
The Green Liberty Note was created as an investment companion to the award-winning 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, the majority of the investments made have been in increments of $1,000 or less.
The latest offering’s coupon, which is set with each new issuance, is 3.50%. Future issuances are anticipated quarterly, with four expected in 2023.
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 by investing in energy efficient lighting and 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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