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Electric Blue

Electric Blue 2018 Cambridge Transferable Bonds

£500 minimum (£250 for Cambridge investors)

Open investment offers are subject to changes and updates as the project progresses.

Check back with this tab to find the latest project update.

Latest update: 11.06.2019

Update: 11.06.2019 - Extension of offer

Below is a copy of a letter from the Electric Blue team, updating on the bond offer and an extension.

Bond offer extension

Dear Positive Investor

Thank you very much for the generous support that you have shown in Electric Blue’s Bond. We truly value your investment.

You will, no doubt, be mindful of the stream of reports and research showing the harmful effects of poor air quality on health, and we are excited by the opportunity we have to power power positive change in Cambridge.

Over the last few months, we’ve been really busy with phase 1. In fact, we have already saved over 5.25 tonnes of emissions in the first two full months of operations; with just half of the first 8 rapid chargers operational so far.

The availability of these 4 new charge points, combined with promotional initiatives such as our Electrify Cambridge campaign, has been responsible for an increase in the numbers of electric taxis in the city - from a lowly 2 at the beginning of last summer, to 17 by the end of 2018. So we are really excited to prove what can be achieved when the rest of the 480 licensed taxis switch to zero-emission. Phase 1 completes very shortly when the final 4 rapid chargers come on stream.

The recently launched Electrify Cambridge campaign has already received the support of the following organisations:

Quy Mill Hotel (Best Western Gp)
GoodEnergy
Cambridge BID
Cambridge Cleantech
Panther Taxis
Execujet Aviation Group
Westway Nissan
Otto Car UK
DoyenLand
SWARCO AG

Regarding the Bond itself, in just 2 months (which included a Christmas break, of course), we have been able to raise over £80,000. This is incredible, but isn't quite enough. Our minimum target is £250,000, and if we don't raise that, we cannot proceed with the bond. So, the Electric Blue team has decided to extend the deadline to 15th March, which will enable more people to get involved in supporting and investing in EV infrastructure and clean air in Cambridge.

We will be working with Ethex, Cambridge Council, Cambridge Cleantech and our other partners, delivering webinars and investor events over the next few weeks to raise awareness of our work amongst citizens of Cambridge, and people interested in EVs.

You can help us with this too - by spreading the word about the Electric Bond amongst your friends, family and peers.

Thank you for your continued support

Alex Calnan
CEO
Electric Blue Ltd

 

Update 11.04.19 - Bond Relaunched

In February 2019 the EB bond was suspended, pending alternations to the prospectus.  Below is the copy of a letter sent to bond subscribers which explains those changes and provides other updates to the progress of the bond and Electric Blue's work.

 

Dear investor,

Thank you very much for your patience.

We are very pleased to be able to relaunch the Electric Blue bond today. A number of changes have been made to the offer document, which we would like to draw your attention to. These changes were necessary to:

  1. Clarify throughout the governance arrangements between The Cambridge EV Charger Project stakeholders - ie Cambridge City Council as overall client, Swarco as the prime contractor (appointed by Cambridge City Council), and Electric Blue as Swarco’s partner
  2. The removal of logos for Cambridge City Council and OLEV in order to remove any inference that the bond is underwritten in any way by any party. A specific disclaimer has also been added to this effect on page 2 of the offer document
  3. Clarifying Cambridge City council’s policy commitments regarding its Air Quality Action Plan 2018-2023
  4. Adding better descriptions to several of the graphics
  5. Sharing more information on the Cambridge EV Charger Project funding blend

We would also like to bring your attention to the fact that the financial information on Page 30 of the offer document has been updated in line with our draft accounts for 2018.

Please note that the offer is now going to stay open until the 30th June 2019. The original close date for the offer was previously 18th January 2019, and we’d like to ensure you are aware of the new arrangements for closing the offer and allocating bonds to investors, which can be found on page 24 of the new offer document.

Due to the changes made to the offer document since your original order for bonds was placed we require you to confirm via email to orders@ethex.org.uk that you have read the revised offer document in full and that you still wish to proceed in line with your existing application for bonds. We will not be able to allocate bonds to you without this email confirmation.

Please do share amongst your networks and thank you for your continued support.

Alex Calnan
CEO
Electric Blue Ltd

Update 05.02.19 - subscriptions suspended

Subscriptions to the Electric Blue bond have been suspended pending alterations to the bond prospectus.

Offer Closed

As of the 30th June 2019 this offer is closed

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