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Ripple

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The online platform making green energy ownership affordable and accessible for everyone.

274%
 - 
Funded 3 Dec 2023
£600,000 target
£1,688,160 from 1,808 investors
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Business overview

Location London, United Kingdom
Social media
Website www.rippleenergy.com
Sectors Energy Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 10565718
Incorporation date 16 Jan 2017
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Investment summary

Type Convertible
Discount 20%
Tax relief

EIS

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Business highlights

  • £2.4m revenue to date*
  • 15,000 memberships
  • Two largest co-op equity share raises in history
  • Gearing up to expand into Europe
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Key features

  • Secondary Market
  • Nominee investment min. £20.00 +
  • Direct investment min. £50,000.00 +

Learn more about convertible campaigns.

Idea

Introduction

Ripple is the green energy ownership platform enabling households and businesses to co-own wind farms and solar parks. Ripple aims to revolutionise the energy sector, enabling consumers to benefit from low cost, hassle-free asset ownership direct.

Ripple members get the low cost, stable priced green power produced for the project's 25-40 year lifetime, with savings applied straight to their electricity bills. It's super simple.

Due to recent high prices, owners of Ripple's first wind farm saved on average £340 off their electricity bills in its first year of operation. They are set to save around £970 in its second year. Ripple has shown green energy ownership can protect consumers from energy price spikes like the one experienced over the last two years.

Having proven the model in the UK, Ripple is now planning to expand into other European markets. It also plans to increase brand awareness in the UK as well as develop B2B2C offerings.

Substantial accomplishments to date

15,000 MEMBERSHIPS

Ripple has secured over 15,000 memberships with a further 14,000 reservations for future projects. Ripple's platform, built by its inhouse tech team, enables a low cost per acquisition and cost to serve. Its online community has over 10,000 members.

NEARLY £80M WORTH OF PROJECTS LAUNCHED

Ripple's first 3 projects total 63MW and are expected to generate enough electricity to meet the needs of 40,000 households and save 54,000 tons of CO2 each year by displacing coal and gas power.

Membership Growth Graph

£2.4M REVENUE SECURED TO DATE*

The vast majority of Ripple's revenues are from arrangement fees charged when customers buy their shares. Management fee revenue will increase as more projects start generating.

TWO LARGEST COOP SHARE RAISES IN HISTORY

Kirk Hill, Ripple's second wind farm project raised over £13m in co-op equity, the largest coop equity share raise in UK history. Derril Water, Ripple's first solar park raised around £20m, knocking Kirk Hill of the top spot.

*Based on unaudited management accounts

4.7* TRUSTPILOT REVIEWS

People love Ripple, as demonstrated by its fantastic Trustpilot scores and repeat purchase rate of 38% (for customers who were not already at their ownership limit).

AWARD WINNING BUSINESS AND PROJECT

Ripple won the Scottish Renewables Technology and Business Innovation award 2023 and Graig Fatha wind farm won the 2023 Green Business Award for Renewable Energy Project of the Year. Ripple was also crowned Seedrs Startup of the Year in 2019 and Sarah won Entrepreneur of the Year 2021.

Monetisation strategy

Ripple has two primary revenue streams - an arrangement fee on share purchases and a management fee during the operational life of each project.

ARRANGEMENT FEE

To date this has ranged from 4.2% to 7% plus VAT. The arrangement fee covers our marketing costs, legal and platform costs as well as our project team costs during the construction phase. We plan to increase the arrangement fee for future projects.

MANAGEMENT FEE

We charge between 0.15p/kWh and 0.2p/kWh as a management fee, around £7 per member per year. It is included in the project's operating cost, not paid separately. It covers our platform costs, customer support and co-op admin. We see scope to increase the fee for future projects. For businesses this could be via enhanced dashboard services.

SWITCHING FEE

We plan to charge our supply partners a switching fee for members we switch to them. During the energy crisis switching rates fell considerably. We expect to begin to charge switching fees in 2024.

Use of proceeds

MARKETING

We plan to use the funds to raise awareness of Ripple, securing more customers for the projects we hope to launch in 2024. We have an out of home and radio advertising campaign planned and are also preparing a TV campaign.

NEW MARKET PREPARATION

We are growing the team with hires in new propositions, product and analysis. These roles will help support our exploration of new markets and the development of new propositions and partnerships.

AHEAD OF SERIES A ROUND

We aim to complete a Series A investment round in 2024 to secure funds to undertake our market entry into 2 European markets.

This convertible round will enable us to:

- research the market requirements in our target markets

- engage with European utilities and project developers

- refine our product offering to fit the new markets

Once we have laid the ground for new market entry the aim is to use the Series A investment to establish Ripple in our chosen markets.

Key Information

Convertible Key Terms

This investment round is being raised by way of a convertible equity investment structure, in this case an "advanced subscription agreement".

The key terms that apply to the Company’s advanced subscription agreement are set out below. See also attached Key Terms document for further details.

• Discount: 20%

• Valuation Cap: £28,000,000

• Conversion is triggered by ("Trigger Events"):
- An Equity Fundraise – defined as the Company raising investment capital of at least £2,500,000 from one transaction or a series of transactions, in exchange for the company issuing of shares;
- A Change of Control of the company (transfer of more than 50% of the share capital); or
- An IPO – being a listing of the company’s shares on a recognised stock market or secondary market.

• If a Trigger Event occurs, the ASA will convert at the lower of:
- the lowest price paid per share in connection with the Trigger Event, discounted by the Discount; and
- the Valuation Cap divided by all issued shares and outstanding options and equity interests in the Company, discounted by the Discount.

• Longstop Date: 6 months from signing of instrument. (note: this will be after the campaign closes).

• If conversion has not been triggered by the Longstop Date shares will be issued on the longstop date at the Default Share Price, which is:
- a price per share based on a company valuation of £18,400,000.

•The convertible would also convert to equity at the Default Share Price in the event of winding up or liquidation of the company.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for Ripple has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 17 November 2023 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from Convertible

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a convertible campaign allows you to invest today, with your investment converting into equity in the future, at a discount compared to other investors.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

Find out more

Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

Find out more

Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

Find out more

Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

Warning

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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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