The Connecticut Green Bank, a quasi-public agency that finances clean energy and environmental infrastructure projects, said Monday it has launched the 17th offering of its Green Liberty Notes investment program.
The Connecticut Green Bank, a quasi-public agency that finances clean energy and environmental infrastructure projects, said Monday it has launched the 17th offering of its Green Liberty Notes investment program.
Green Liberty Notes are one-year investment notes issued by a Connecticut Green Bank subsidiary. The funds raised are used to finance clean energy projects, with the current offering supporting Eversource's Small Business Energy Advantage program, which provides energy-efficiency upgrades and interest-free loans to qualifying small businesses across the state.
The new offering, which seeks to raise up to $350,000, allows state residents and investors nationwide to purchase one-year Green Liberty Notes with a minimum investment of $100 through the Honeycomb Credit online crowdfunding platform.
The launch follows the program's 16th offering, which closed on May 28 after attracting a record $606,649 in investor commitments from 129 investors. That allowed the Green Bank to raise the maximum $500,000 available in the offering.
To date, the quarterly investment program has raised more than $4 million to support clean energy initiatives. More than 60% of original investments have been $1,000 or less, and more than half of investors have been state residents.
Participants from 43 states also have invested in the program.
Connecticut Green Bank President and CEO Bryan Garcia said the success of the Green Liberty Notes program continues to demonstrate its value to the state’s green economy.
The Green Bank also said its board last month approved expanding the program to allow future project-specific fundraising campaigns, enabling residents to invest directly in clean energy and environmental infrastructure projects in their own communities.
Established by the General Assembly in 2011 as the nation's first state-level green bank, the Connecticut Green Bank says it has mobilized more than $3 billion in investment for the state's green economy.
