Not-for-profit energy supplier Our Power has launched a Social Purpose Bond in the market via Ethex – the positive savings and investment platform that makes it easy to make money do good.

The Edinburgh-based company, has secured £10m to date in debt finance and is bringing a three-year, unsecured bond paying a return of 6.5% to raise £4.5m in working capital. This investment will allow Our Power to increase its market share, expand its model across the UK and deliver its social impact.

Launched in 2016 by social housing providers which includes housing associations and local authorities, Our Power was set up as a social enterprise with the aim of providing fair, affordable, clean and secure energy for all customers, while removing discrimination and poverty from the energy sector.

The minimum investment that an individual or organisation can make is £500 with no maximum. Our Power has received advanced assurance from HMRC that investment in this bond offer will be eligible for Social Investment Tax Relief (SITR), subject to an investor’s personal circumstances, current legislation and Our Power’s compliance with the rules.

The Social Purpose Bond offer available on the Ethex platform, will remain open to applications up to the value of the maximum sum, or until 21st December 2017, whichever is the earlier. The Directors may extend the offer at their discretion.

To find out more about Our Power’s Social Purpose Bond listed on the Ethex platform or to invest in the bond please visit https://www.ethex.org.uk/ourpower.