Rudy Sturk,
Associate Director, Marketing & Communication Strategy
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 (August 12, 2022) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, has closed their summer crowdfunding investment offering, successfully bringing their total raise to $565,835 this year. Building upon offerings in January and May, this unique investment opportunity was the most successful yet, 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 regulation climate tech marketplace for local impact investing.
“Our Green Liberty Notes program continues to grow as more investors learn of the opportunity to support the mission of the Green Bank for as little as $100 while earning a competitive return,” 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, 71% of the investments made have been $1,000 or less.
The latest offering’s coupon, which is set with each new issuance, is 2.50%. Future issuances are anticipated quarterly, with fall and end of year offerings in the works.
“Meeting and surpassing our maximum target raise with our third offering shows that the demand for green investment continues to grow, as was the case with our Green Liberty Bonds,” said Bert Hunter, Executive Vice President and Chief Investment Officer of the Green Bank. “These notes are a great option for anyone seeking diversification in their portfolio or a local connection to their investment that earns a safe, competitive return while helping small business to become more energy efficient.”
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.
Future offerings are planned to open quarterly.
