Last month The Big Lemon launched a £405,000 bond offer to raise money for three new electric buses, which together with a fourth bus that is being retrofitted from diesel to electric, will enable The Big Lemon to run its network of six public bus services in Brighton & Hove with fully electric, zero emissions vehicles powered by solar panels on the roof of the bus depot.
Bonds were offered on a three year term at 4%, and a five year term at 5%, with a minimum investment of £100.
Three weeks in, and three weeks before the offer closes, the target has been reached and the three new buses have been ordered. They will enter service in the autumn.
“I’d like to say a massive thank you to all those who have invested in this project. It’s exciting to be on the verge of creating the UK’s first fully electric public bus network in Brighton & Hove and this will make a huge difference to air quality in the city.
“From a personal perspective the success of this campaign is very exciting as it shows that communities do not need big business or the banks to fund the improvements they so desperately need – people power can do it too. Because of the huge response we’ve had we’re extending our plans to cover one more bus which will enable us to ensure the network is fully electric even when a vehicle is having its 4 weekly maintenance inspection”
Tom Druitt, Chief Executive
The Big Lemon has extended the target by another £135,000 to fund the extras bus and is offering both shares and bonds to members of the public.
The project is part of The Big Lemon’s vision that by 2030 every community in the UK has access to affordable, sustainable transport, using zero-emissions vehicles powered by renewable energy and owned by the local community. It is supported by the Department for Transport and Brighton & Hove City Council.
So why have people been so keen to invest?
It is an ethical business which I would like to see succeed, and it pays a decent interest rate.
I want to see cleaner, quieter streets with air fit to breathe
This is the future of city transport.
This is a company with a great philosophy which is leading the way and deserves support
Roger and Margaret
Our daughter lives in Brighton and thinks we should
Would you like to invest in our Solar Bus Bonds and help bring more zero-emissions electric buses to Brighton & Hove?
For a Solar Bus Bond Prospectus please click on the image below:
All investments are covered by our Solar Bus Bond Agreements:
If you’d like to invest in our Solar Bus Bonds please complete the fields below:
Upon receipt of your application we will send you a Bond Agreement to sign and an invoice for the funds with details of how to transfer the funds.
Upon receipt of your funds we will issue a bond certificate within 14 days. Your certificate will be dated the date of receipt of your funds and your investment will be returned to you at the end of the term. Interest will be paid annually, with the final payment on maturation
We reserve the right to refuse investments and we do not need to give a reason. The Big Lemon does not give financial advice and you are advised to seek independent financial advice on your investments.
This community bond issue falls outside the scope of regulation by the Financial Conduct Authority and is not covered by the Financial Services Compensation Scheme (FSCS).
The Big Lemon CIC is Registered in England & Wales, Number 06045786
Registered Office: Protran House, Boundary Road, Brighton BN2 5TJ
Telephone: 01273 681681