Bristol Wood Recycling Project (BWRP) is giving people the chance to support its future by helping to raise £430,000 through a new bond offer on Triodos Bank's crowdfunding platform. The money will be used to acquire its current home in St Philip’s, secure the site for the long term and grow the business for future generations
With an estimated five million tonnes of wood waste generated in the UK each year, BWRP aims to reduce the amount going to landfill. Operating as a social enterprise, it works with a team of around 40 dedicated volunteers to collect, repurpose and sell wood that would otherwise go to waste – helping to benefit both the community and the environment.
BWRP has consistently saved over 500 tonnes of wood from landfill every year. Collected waste wood is either transformed for re-sale, used to make bespoke custom furniture in the workshop or sustainably recycled and used for heat reclamation at power stations, replacing coal for electricity production. The business operates a successful volunteer programme that enables social inclusion and learning – and is vital in operating a sustainable business model.
BWRP volunteers include the long-term unemployed, those with substance abuse problems, individuals with a learning disability or mental health issues. BWRP aims to offer an inclusive, sociable and practical environment where volunteers can gain work experience, knowledge and confidence to better their personal situation and employment prospects.
Ben Moss, co-founder and director of Bristol Wood Recycling Project, said: “We moved into our new premises a year ago to help us expand our growing business of reusing and recycling waste wood, building furniture and offering employment and volunteering opportunities. Purchasing our site – which is the purpose of the bond offer – will help us achieve that and provide security for the long term.
Crowdfunding through Triodos will help us to raise the funds quickly and efficiently and the low minimum investment of £50 means we should attract a wide range of investors to join our community and help us create a positive future.”
To develop the bond offer, BWRP is working with Triodos Bank, Europe's leading sustainable bank, which has its UK head office in Bristol. Last year, Triodos became the first UK bank to launch an investment crowdfunding platform.
Dan Hird, head of Corporate Finance at Triodos Bank, said: “We are proud to be supporting Ben and the team at Bristol Wood Recycling Project. The business has an excellent reputation and its work in reducing and recycling waste wood, as well as its volunteer programme, make it an ideal fit with Triodos Bank’s mission to make money work for positive social, environmental and cultural change.
“With a £50 minimum investment, we are able to meet BWRP’s objectives of making the bond offer accessible to a wide community of potential investors, supporters and future customers.”
The minimum investment in the bond is £50 and the offer is expected to fill quickly after its launch on 28th January. The bonds are open to anyone that registers on the Triodos site (www.triodoscrowdfunding.co.uk) and will pay interest of 4% gross per year. The bond has a six-year term and is repayable in full on 15th March 2025. As with all investments, interest payments are not guaranteed, and capital is at risk.
The bonds are also eligible to be held in an Innovative Finance ISA, which allows investors to earn interest tax-free within each personal ISA allowance (currently £20k).
Last year, BWRP business moved from the site on Cattle Market Road that it had rented for 13 years and relocated to new premises in St Philip’s. The new, larger site has brought many benefits for the business – it has two entrance points, enabling separate access for collections and for clients, and boasts a self-contained yard that provides the ideal space for storing the waste wood collected. The workshop in the new premises is also over twice the size of the previous work shop, with a larger office space too.
The additional space on offer at the new site gives BWRP the capacity to continue to expand its operations, with a strong six-year business plan for growth. Purchasing the site using the capital raised through the crowdfunding bid will result in significant annual premises cost savings, as well as securing the site long term.
For more information on the Bristol Wood Recycling Project bond and to register interest, visit triodoscrowdfunding.co.uk.
An investment in Bristol Wood Recycling Project bonds is not covered by the Financial Services Compensation Scheme. Bristol Wood Recycling Project's ability to pay the interest and repay the bonds is not guaranteed and is dependent on the continued success of its business model. These bonds are unquoted securities with a fixed repayment date and although the bonds are transferable, investors should be aware that they may not be able to access their capital during the life of the bond.
NOTES TO EDITORS
Bristol Wood Recycling Project published an offer document dated January 2019. Applications can only be made on the basis of, and subject to, the terms and conditions of the information contained in the offer document which includes the terms and conditions of the Triodos Crowdfunding website. Bristol Wood Recycling Project is a private company limited by guarantee, registered in England with registered office at Unit 4, William Street, St. Philips, Bristol, BS2 0RG (registered number 05081319).
Photos and customer/volunteer case studies are available on request
Bristol Wood Recycling Project full bond offer document is available to view here
For further information please contact:
Ellie James, PR & Communications Officer, Triodos Bank UK T: 0117 311 0241
Ed Grattan, PR & Communications Manager, Triodos Bank UK T: 0117 311 0291
About Bristol Wood Recycling Project
BWRP is a social enterprise which was founded in 2004 to address the amount of wood waste going to waste locally. The company works to benefit both the community and the environment by transforming waste wood into products for resale through an inclusive volunteering programme.
Over one thousand volunteer days were hosted by the co-operative in 2018. The principal objectives of the company are:
- To save resources from waste
- To provide affordable timber and resources to the local community
- To enable social inclusion and learning through volunteer and work placement opportunities
- That the business remains self-financing.
BWRP is a company limited by guarantee which is owned and managed by fourteen employees and volunteers who are members. It operates as a co-operative being owned and controlled by its members and is a member of co-operatives UK. All 14 members have an equal stake in the company and are jointly responsible for the strategic direction of the company.
About Triodos Bank
Triodos Bank is a global pioneer in sustainable banking using the power of finance to invest in projects that are good for people and the planet. Triodos uses its €15.1 billion in assets to create social, environmental and cultural value in a transparent and sustainable way.
With UK operations based in Bristol, Triodos Bank has branches in the Netherlands, Belgium, Spain, Germany and an agency in France. Globally, Triodos Bank has microfinance projects in Central Asia and Eastern Europe, and is a founding member of the Global Alliance for Banking on Values (GABV), a worldwide network of 54 banks seeking to transform finance into a vehicle of positive influence.
This financial promotion has been issued and approved by the UK division of Triodos Bank NV (incorporated under the laws of the Netherlands with limited liability, registered in England and Wales BR3012). Authorised by the Dutch Central Bank and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request.
Investments offered on the crowdfunding platform are not readily realisable, which means that they may be difficult to sell and you may not get back the full amount invested. Investments are not covered by the Financial Services Compensation Scheme (FSCS) and your capital is at risk and returns are not guaranteed. Repayment of capital and interest or payment of dividends will be dependent on the success of the organisation's business model and past performance isn’t a reliable indicator of future performance. You should always read the offer document in full before deciding whether or not to invest as it will cover risks specific to an individual investment. You can read more about the general risks associated with making these types of investments here. If you are unsure if any of these investments are right for you, you should contact an Independent Financial Adviser.