Industry/sector:Energy and finance
Date founded: £2012
Founders:Michael Stein and Philip Riches
According to their website, they had a big ambition to help drive forward the $1tn of annual global investment required to reach the scale of clean energy generation needed to prevent further global warming and to give people good returns on their investment into the bargain.
Stein stumbled across the idea for Trillion after a meeting with James Lovelock, the scientist who formulated the Gaia Hypothesis in the late 1960s. In a phrase, the theory suggested that life maintains conditions suitable for its own survival . The Earth could be compared to an individual organism that regulated body temperature and blood salinity, and so on.
That meeting is what woke me up to the challenge,” said Stein. I realised that as important as a global remit is, unless you can actually move money and capital and invest into renewable energy infrastructure, we weren’t going to be able to turn off the fossil fuel taps.”
Vivienne Westwood, the fashion designer and environmentalist, became a majority stakeholder in March 2013, while Albion London, the creative design and marketing agency, took a stake in April 2014.
Fashion icon Westwood stated: Were now at a point where we are aware of the incredible danger we face. Where Im coming from is very simple whats good for the planet is good for the economy.
Trillion Fundis creating the opportunity to invest in renewable energy on the level where people whove only got 50 can put their money into it.
Julia Groves, managing director at Trillion Fund, added: The beauty of renewable energy is that, because of the size of the projects, they lend themselves well to crowdfunding it’s not likely youll see any crowdfunding for fossil projects. It gives ordinary people and investors the chance to get a financial return whilst helping the UK to generate more cleaner, greener renewable energy.
She concluded her passionate speech: My children won’t be asking daddy what did you do in the war but mummy what did you do to fight climate change
In July 2014, the company merged with Buzzbnk, the UK’s first crowdfunding platform for the social enterprise sector.
With 14,000 users, the combined entity has become the biggest social crowdfunding platform in the UK, enabling social and sustainable projects to access potential funding of up to 500m and is targeting half a million crowdfunders by the end of 2017.