Connecticut Green Bank Subsidiary’s Fourth Green Liberty Notes Offering is Second Consecutive Sell-Out, Brings Cumulative Raise Over $800,000

Offerings provide an opportunity for citizens to invest as little as $100 to support Green Bank’s mission to confront climate change through Eversource’s Small Business Energy Advantage Program 

 

Hartford, CT (October 31, 2022) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, has closed four crowdfunded investment offerings this year, successfully raising more than $800,000. This offering was the second consecutive sell-out, with investor demand exceeding the maximum investment goal of $250,000. The Green Liberty Notes allow citizens to invest in the Green Bank’s mission to confront climate change with as little as $100. These offerings are made possible through a partnership with Raise Green, a climate tech marketplace for local impact investing.  

“With the first year of Green Liberty Notes offerings in the books, we are pleased to see repeat investors and familiar names support this cause, as well as a growing number of new investors with each offering,” said Bryan Garcia, President and CEO of the Green Bank.  

The Green Liberty Note was created as an investment companion to the award-winning Green Liberty Bonds, which have been offered in $1,000 minimums to retail and institutional investors through brokerage firms. To attract more investors, the Notes program offers one-year maturity notes, with $100 minimums, that are easy to purchase through an online platform without a broker. To date, the majority of the investments made have been in increments of $1,000 or less.    

The latest offering’s coupon, which is set with each new issuance, is 3.50%. Future issuances are anticipated quarterly, with four expected in 2023. 

Investment by everyday citizens in Green Liberty Notes supports Eversource’s Small Business Energy Advantage (SBEA) program, administered through the Conservation and Load Management Plan, which helps small businesses reduce their energy consumption by investing in energy efficient lighting and equipment. As a result of the climate benefits associated with this program, the offering was reviewed and verified for its environmental attributes by Kestrel Verifiers. 

To sign up for notifications of future issuances, please visit invest.ctgreenbank.com.   

With $560,000 Already Raised this Year, Connecticut Green Bank Subsidiary Opens Fourth Investment Offering to Citizens

Offering through Raise Green’s crowdfunding platform allows anyone the opportunity to invest as low as $100 to support small business energy efficiency in Connecticut and help confront climate change

 

Hartford, CT (Sept. 29, 2022) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, proudly launches their fourth Green Liberty offering, a crowdfunding campaign made possible in partnership with Raise Green, a social and environmental marketplace for impact investing. Through this offering, Connecticut residents and citizens nationwide can invest as little as $100 to support small businesses improving their energy efficiency and reducing energy costs.

“Our first three offerings have raised more than $560,000 this year from investors across the country, with a majority from here in Connecticut. Building upon our successful summer offering, which was completely sold out, we are excited to see more and more citizens getting involved and earning a competitive return on their money,” said Bryan Garcia, President and CEO of the Green Bank.

Notes are easy to purchase through an online platform without a broker, with $100 minimums. To date, 71% of the investments made have been $1,000 or less, and more than half of the investors have been Connecticut residents.

Investments in the Green Liberty offering support Eversource’s Small Business Energy Advantage (SBEA) program, which enables small businesses in Connecticut to reduce their energy costs through efficiency upgrades and zero interest loans.

As a result of the climate benefits associated with the SBEA program, this Green Liberty offering has been reviewed and verified for its environmental attributes by Kestrel Verifiers.

For more information about the investment opportunity, please visit invest.ctgreenbank.com.

Connecticut Green Bank Subsidiary Surpasses Goal for Third Investment Offering, Cumulative Raise Exceeds $550,000 

Offerings provide an opportunity for citizens to invest as little as $100 to support Green Bank’s mission to confront climate change through Eversource’s Small Business Energy Advantage Program 


Hartford, CT (August 11, 2022) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, has closed their summer crowdfunding investment offering, successfully bringing their total raise to $565,835 this year. Building upon offerings in January and May, this unique investment opportunity was the most successful yet, exceeding the maximum investment goal of $250,000. The Green Liberty Notes allow citizens to invest in the Green Bank’s mission to confront climate change with as little as $100. These offerings are made possible through a partnership with Raise Green, a regulation climate tech marketplace for local impact investing.  

“Our Green Liberty Notes program continues to grow as more investors learn of the opportunity to support the mission of the Green Bank for as little as $100 while earning a competitive return, said Bryan Garcia, President and CEO of the Green Bank.  

The Green Liberty Note was created as an investment companion to the award-winning Green Liberty Bonds, which have been offered in $1,000 minimums to retail and institutional investors through brokerage firms. To attract more investors, the Notes program offers one-year maturity notes, with $100 minimums, that are easy to purchase through an online platform without a broker. To date, 71% of the investments made have been $1,000 or less.    

The latest offering’s coupon, which is set with each new issuance, is 2.50%. Future issuances are anticipated quarterly, with fall and end of year offerings in the works. 

“Meeting and surpassing our maximum target raise with our third offering shows that the demand for green investment continues to grow, as was the case with our Green Liberty Bonds,” said Bert Hunter, Executive Vice President and Chief Investment Officer of the Green Bank. “These notes are a great option for anyone seeking diversification in their portfolio or a local connection to their investment that earns a safe, competitive return while helping small business to become more energy efficient.”    

Investment by everyday citizens in Green Liberty Notes supports Eversource’s Small Business Energy Advantage (SBEA) program, administered through the Conservation and Load Management Plan, which helps small businesses reduce their energy consumption through deploying energy efficient equipment. As a result of the climate benefits associated with this program, the offering was reviewed and verified for its environmental attributes by Kestrel Verifiers. 

Future offerings are planned to open quarterly. To sign up for notifications, please visit invest.ctgreenbank.com.   

Connecticut Green Bank Subsidiary Launches Third Investment Offering through Raise Green Crowdfunding Platform

Offering provides an opportunity for anyone to invest as low as $100 to support small business energy efficiency in Connecticut and help confront climate change

 

Hartford, CT (July 8, 2022) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, proudly announces their third Green Liberty offering, a crowdfunding campaign launched in partnership with Raise Green, a social and environmental marketplace for impact investing. Through this offering, Connecticut residents and citizens nationwide can invest as little as $100 to support small businesses improving their energy efficiency and reducing energy costs.

“With two successful offerings already this year, we continue to see strong interest in this investment opportunity,” said Bryan Garcia, President and CEO of the Green Bank. “The low investment minimum is designed to encourage people to get involved. We know that inflation and other economic concerns are weighing on folks across the country, however, many still want to help make a difference and combat climate change. Our offerings allow people to know their investment aligns with their values while earning a competitive return.”

Investments in the Green Liberty offering support Eversource’s Small Business Energy Advantage (SBEA) program, which enables small businesses in Connecticut to reduce their energy costs through efficiency upgrades and zero interest loans.

As a result of the climate benefits associated with the SBEA program, this Green Liberty offering has been reviewed and verified for its environmental attributes by Kestrel Verifiers.

For more information about the investment opportunity, please visit invest.ctgreenbank.com.

Connecticut Green Bank Recognized with National Award for State Leadership from Clean Energy States Alliance

Green Liberty Bond program wins for “interesting, innovative, and highly creative way to generate revenue for clean energy projects.” 

Pictured are, from left to right, Connecticut Green Bank staff Sergio Carrillo, Director of Incentive Programs; Sara Harari, Associate Director of Innovation and Strategic Advisor to the President & CEO; Emily Basham, Senior Manager of Partnership Development; and Warren Leon, Executive Director of the Clean Energy States Alliance.

Hartford, CT (June 8, 2022) – The Connecticut Green Bank was honored as a recipient of the 2022 State Leadership in Clean Energy Awards for its Green Liberty Bond program from the Clean Energy States Alliance (CESA), a national nonprofit coalition of public agencies working together to advance clean energy. Since 2009, the biennial Leadership Awards have recognized outstanding state programs and projects that have accelerated the adoption of clean energy technologies. The six winners were chosen by an independent panel of judges, and were evaluated based on leadership, innovation, cost-effectiveness, and replicability. 

“States across the country have been taking strong and creative action to expand the use of clean energy,” said CESA Executive Director Warren Leon.  “These award winners highlight the important, innovative, and diverse ways that states are moving clean energy forward.” 

Modelled after the War Bonds of the 1940s, Green Liberty Bonds are purchased by individual investors in lower-dollar denominations (the bonds are offered in $1,000 increments), enabling people to directly participate in the green economy and earn a return on their investment. The proceeds of Green Liberty Bonds are invested in projects that confront climate change in Connecticut. According to the judges: “This program is an interesting, innovative, and highly creative way to generate revenue for clean energy projects.” 

“We submitted the Green Liberty Bond program for SLICE Award consideration because of the Bonds innovative revenue structure, their accessibility to retail and institutional investors, their replicability, and their overall success in 2020 and 2021,” said Bert Hunter, Chief Investment Officer of the Connecticut Green Bank. “We are honored to be recognized by CESA, and add the Green Liberty Bonds to the list of our programs that have earned this acknowledgement.” 

The first issuance of the Green Liberty Bonds in July 2020 sold nearly $17 million, and the second issuance in May 2021 sold nearly $25 million with over $98 million of orders placed from a broad array of investors, including retail investors across the United States. Both bonds are Climate Bond Certified and rated “A+” by S&P. The bonds are backed by a unique revenue stream created by the sale of Solar Home Renewable Energy Credits (SHRECs), which are generated by solar panels on homes. 

The Green Bank was also a SLICE Award winner in 2018 for the Solar for All program, in 2016 for the CT Solar Lease Commercial PPA program, and in 2014 for its C-PACE program. 

This year’s awards were presented at a reception in Washington, DC on June 7. Other recipients were the California Energy Commission, Maryland Energy Administration, New York State Energy Research and Development Authority (NYSERDA) and New York State Homes and Community Renewal (HCR), Oregon Department of Energy, and the Washington Dept. of Commerce – Energy Office. 

The judges who donated their time to assess the programs nominated by state agencies across the country were from World Resources Institute, Energy Foundation, Union of Concerned Scientists, Vote Solar, and the McKnight Foundation. The judges’ participation in this process in no way connotes their respective organizations’ endorsements of these programs.  

In July, CESA will release a report on the State Leadership in Clean Energy Award (SLICE) winners that will include case studies of the programs. The report will be posted on CESA’s website at https://www.cesa.org/projects/state-leadership-in-clean-energy/2022-awards/. This webpage also contains information and registration links for a webinar series highlighting these exemplary programs. The webinars, which will take place in the summer and fall of 2022, will be free to attend and open to the public. 

To learn more about Green Liberty Bonds and Green Liberty Notes, another citizen-focused investment offering with a $100 minimum, please visit www.greenlibertybonds.com 

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About the Clean Energy States Alliance (CESA)  

The Clean Energy States Alliance (CESA) is a leading US coalition of state energy agencies working together to advance the rapid expansion of clean energy technologies and bring the benefits of clean energy to all. Established in 2002, CESA is a national, member-supported nonprofit that works with its members to develop and implement effective clean energy policies and programs. CESA’s members include many of the nation’s most innovative, successful, and influential implementers of clean energy policies. CESA facilitates the expansion of state clean energy policies, programs, and innovation, with an emphasis on renewable energy, energy storage, energy equity, and resiliency. CESA and its members perform an essential role in moving the nation from fossil fuels to affordable clean energy. www.cesa.org   

Connecticut Green Bank Subsidiary Closes Second Investment Offering, Raises More than $300,000 in Total 

Offering provided an opportunity for citizens to invest as little as $100 to support Green Bank’s mission to confront climate change through Eversource’s Small Business Energy Advantage Program 

Hartford, CT (May 18, 2022) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, has closed their spring crowdfunding investment offering, successfully bringing their total raise to $303,635 this year. This offering is the second-of-its-kind, continuing the success of a January offering, made possible through a partnership with Raise Green, a regulation climate tech marketplace for local impact investing. The Green Liberty Notes allow citizens to invest in the Green Bank’s mission to confront climate change with as little as $100. 

“In total, we have raised more than $300,000 from everyday people who want to support our mission and small business energy efficiency, using lower minimum investments,” said Bryan Garcia, President and CEO of the Green Bank.  

The Green Liberty Note was created as an investment companion to Green Liberty Bonds, which have been offered in $1,000 minimums to retail and institutional investors through brokerage firms. To attract more investors, the Notes program offers one-year maturity notes, with $100 minimums, that are easy to purchase through an online platform without a broker. To date, 86 investments of $1,000 or less have been made.    

The latest offering’s coupon, which is set with each new issuance, was 1.50%. Future issuances are anticipated quarterly, with summer and fall offerings in the works. 

“With a rate on par or better than a comparable term certificate of deposit, and much better than a traditional savings account, we are encouraging investors to add a Green Liberty Note to their portfolio because it earns a solid return and makes a difference for small businesses making their operations more energy efficient,” said Bert Hunter, Executive Vice President and Chief Investment Officer of the Green Bank.    

Investment by everyday citizens in Green Liberty Notes supports Eversource’s Small Business Energy Advantage (SBEA) program, administered through the Conservation and Load Management Plan, which helps small businesses reduce their energy consumption through deploying energy efficient equipment. As a result of the climate benefits associated with this program, the offering was reviewed and verified for its environmental attributes by Kestrel Verifiers. 

To sign up for notifications about future offerings, please visit invest.ctgreenbank.com.   

Connecticut Green Bank Subsidiary Closed Successful First Crowdfunding Offer with Over $180,000 Raised in a Month

Offering provided an opportunity for citizens to support Green Bank’s mission to confront climate change through investment in Eversource’s Small Business Energy Advantage Program

Investors from 25 states participated in the first offering.

Hartford, CT (Jan. 24, 2022) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, has closed their first crowdfunding investment offering, successfully raising 180% of its target ($180,000) in a month. This first-of-its-kind offering was launched on Dec. 14, 2021, in partnership with Raise Green, a regulation climate tech marketplace for local impact investing. The Green Liberty Notes allowed citizens to invest in the Green Bank’s mission to confront climate change with as little as $100.

“It has become part of our mission to create investment opportunities for everyday people, allowing them to help directly combat climate change, through offerings with lower investment minimums,” said Bryan Garcia, President and CEO of the Green Bank.  “We are excited by the public reception of our first Notes offering, both from families in Connecticut to citizens across 24 other states who are supporting energy efficiency projects for small businesses across Connecticut.”

This initial offering of one-year maturity 1% coupon notes received an average investment of $1,600 and 75% of investments were $1,000 or less. Future issuances of Green Liberty Notes are expected every three months.

“For several years now, the Green Bank has been expanding its distribution channels to reach a broad cross section of investors – from the most sophisticated institutional ESG investors to everyday retail investors. This digital channel through the Raise Green crowdfunding platform is another innovation we’re using to bring access to our investment portfolio to even small-dollar investors across the USA,” said Bert Hunter, Executive Vice President and Chief Investment Officer of the Green Bank

Green Liberty Notes support Eversource’s Small Business Energy Advantage (SBEA) program, administered through the Conservation and Load Management Plan. As a result of the climate benefits associated with this program, the offering has been reviewed and verified for its environmental attributes by Kestrel Verifiers.

To sign up for notifications about future offerings, please visit invest.ctgreenbank.com.

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