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The BE Company

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BE develops clean energy infrastructure projects, making clean energy accessible to industrial users.

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Funded 21 Jun 2024
£500,000 target
£524,425 from 0 investors
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Business overview

Location London, United Kingdom
Social media
Website www.bec.uk/
Sectors Energy Mixed Digital/Non-Digital B2B
Company number 14484648
Incorporation date 15 Nov 2022
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Investment summary

Type Equity
Valuation (pre-money) £15M
Equity offered 3.23%
Tax relief

EIS

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Business highlights

  • 1GW secured project pipeline across 3 continents
  • Green solutions for a $50bn AI data centre market
  • BlueEarth's Top 100 high-growth impact ventures
  • Experienced Team in Large Scale Deployments
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Key features

  • Secondary Market
  • Nominee investment min. £20.00 +
  • Direct investment min. £10,000.00 +

Idea

Introduction

BE is a developer and operator of clean energy infrastructure projects. We harness underutilised zero-carbon energy sources to power innovative technologies like AI, accelerated computing, and CleanTech directly on-site.

Our current focus is the rapidly expanding data centre industry, a sector with unprecedented growth and scarce availability, according to JLL Data Centre Group. In other words, conditions are ripe for disruption.

By designing, financing, building, and operating data centres at the energy source, our deployments act as a controllable off-taker of power, helping generators utilise every available watt. This access to surplus—and therefore reduced-cost—energy also allows us to operate at a fraction of the cost (up to 50% cheaper than competitors).

Through our projects, we're not only advancing the transition to a cleaner electricity system but also significantly reducing the carbon footprint of global power-intensive sectors.

Substantial accomplishments to date

JAN 23 | Operations established in the UK and North America.

JUN 23 | Signed BE's "Project Epsilon" to develop a 2.5MW Pilot Project supporting AI and other intensive computing workloads.

OCT 23 | Awarded BlueEarth's Top 100 high-growth, high-impact ventures positively disrupting their industry.

NOV 23 | Signed LOI for 1GW of hydro-powered deployments.

DEC 23 | In conversations with world-leading technology and infrastructure providers, including Vertiv, Dell, NVIDIA and others.

JAN 24 | Expanded our London team with experience from leading institutions, including NVIDIA, University of Cambridge & LSE.

FEB 24 | Signed LOI for data centre project with one of the most prominent technology companies in Africa.

Monetisation strategy

At BE, we specialize in creating scalable, clean energy infrastructure for data centres.

Our focus is on quickly deploying modular infrastructure to address the growing demand.

We generate revenue through hosting, bare metal, and energy management services.

Our competitive pricing and value-added services are key to our customer acquisition strategy.

We fund projects through a mix of debt, equity, and customer deposits.

We earn development and management fees for both project setup and ongoing operations.

Our goal is to achieve significant growth with a straightforward and replicable business model focused on clean energy.

Use of proceeds

Each BE project is financed independently and directly by our capital partners, mitigating financial risk for the company.

This means that the allocated funds can be used primarily to cover our working capital and overhead expenses, supporting expansion of the team and ensuring sufficient runway for the company as we develop our 2024 deployments.

We aim to achieve profitability after the launch of our first project, removing the need to raise significant financing to support growth in the future.

Key Information

Founder’s interest

The Be Company’s founder and CEO, Sath Ganesarajah, is also a director in the following companies:

• QUANTUM RESEARCH & MANAGEMENT LIMITED (15401555): A company dedicated to research and development related to Digital Assets. Directorship is likely to be removed within 12 months unless a Non-Executive Director role is kept.

• MAINFRAME & CYBERNETIC SYSTEMS LIMITED (15401560). A company dedicated to research and development related to AI. Directorship is likely to be removed within 12 months unless a Non-Executive Director role is kept.

• SKYLAKE MANAGEMENT LLP (OC434566). Consultancy company being wound down (in c.12 months).

• LP REALISATIONS LIMITED (11773819). The founder's previous company was focused on using clean energy for high-performance computing. Founded in 2019, it was restructured and sold to Statar Mining as part of an administration process in January 2023.

The businesses do not compete with The Be Company, and the founder dedicates less than 1 hour a week to them.

Group Structure

Investors in this round are investing in and will become shareholders of The BE Company of United Kingdom Limited (14484648). This is the group's holding company. The proposed group structure is as follows:

Share classes

The company currently has 2 classes of shares, Ordinary and B shares. All investors in this round, including Seedrs investors, will be receiving Ordinary shares with the following rights: (i) rights to participate in dividends; (ii) pro rata voting rights; (iii) rights to participate in surplus assets in the event of liquidation (and on an exit); and (iv) tag-along rights on a change of control. B shares have the same rights, except for voting rights.

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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 The BE Company has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 15 March 2024 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 £15,000,000

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 regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

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.

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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.

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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.

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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.

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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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