(L to R) Nathan Roxburgh, Nicholas Dimmock, Tim Hyett, Alexander Colvill and Maximillian Hyett
Investment firm 350 PPM, which specialises in green initiatives, is launching a £5.5m fund that is open to North East businesses and individuals working on environmental projects.
The company, which supports early stage environmental developers, projects and technologies that it believes could benefit substantially from the implementation of The Paris Agreement, has access to an investment pot which it is looking to invest in schemes across the UK.
With backing from individual investors at Barclays, Bank of America, Deutsche Bank, JP Morgan, Merrill Lynch, Morgan Stanley and UBS, 350 PPM has been involved in 40 successful environmental projects since 2008, including the 1,500 MW Coca Coda Sinclair Hydro Electric Project in Ecuador, which it was lead accreditor on.
As an example of the firm’s work, it has recently been supporting the development of StoreElectric, a company working on methods of storing wind energy to produce long term electricity supply, with an investment of £300,000 which could see the company set up bases across the UK.
350 PPM managing director, Tim Hyett, said: “We want to support innovative companies and entrepreneurs that are nurturing cutting-edge projects and technologies that could reverse the effects of global warming before it’s too late. We have here an opportunity to create investment and jobs in the UK for generations to come, and above all else, our aim is to deliver clean, reliable and affordable power for generations in the future.”
350 PPM director of corporate finance and tax structures, Nick Dimmock, said: “This is the second Environmental Revolution. We have not seen this level of interest in the sector since the days of the ill-fated Kyoto Protocol. Investment is at fever pitch, and with many exciting green initiatives combining with the EIS, we are heading for a huge boom.”
Taking advantage of significant tax incentives and protections available through the UK’s Enterprise Investment Scheme (EIS), the firm also provides information for UK Taxpayers looking to invest in and benefit from the commercial potential of the Paris Agreement via such qualifying companies, projects and technologies.