Crowd-funding platform Trillion Fund has announced it will no longer offer any new renewable energy loans as a result of recent changes in government policy having “rocked investor confidence”.
The company, which together with Buzzbnk had raised over £4m for more than 100 projects, has focused primarily on UK renewable energy projects since its launch in 2011.
It was founded by Dr Michael Stein and Phillip Riches to open up opportunities to profit from clean energy for everyone.
But a statement released by the company said that changes to government policy had made the landscape for future renewable energy projects very uncertain: “As a result, we are not going to be offering any new renewable energy loans until we have a clearer view of what projects may be available and general investor appetite.”
It will instead focus on offering technology and crowdfunding services to other businesses across all sectors.
Buzzbnk will continue to operate as a rewards-based platform for charities and social enterprises.
Anyone with loan contracts with E2 Energy, E5 Energy, and The Converging World have been assured that they will not be affected.