For queries regarding shares currently held including sale or transfers please contact

Wow, what a response to our first community share issue. We surpassed our target, raising over £301,000 in just a week! This means our share offer is now closed. Do get in contact if you’d like to invest though as we’re lining up our next projects and there will be plenty more opportunities.

Check out our business plan and other documents below if you get a chance as these will form the basis of future share issues.

Update on EIS – EIS status has been approved by HMRC

The attractiveness of FRECo’s current offer has been further enhanced by being granted approval for the Enterprise Investment Scheme (EIS)

The Basics

FRECo have been given pre-approval by HMRC that shares purchased in our latest offer will be eligible for the Enterprise Investment Scheme (EIS). This means that qualifying UK taxpayers can claim 30% of their investment back, up to a maximum of the amount of tax that they have paid. So, for example, a person investing £10,000 who has a personal tax bill at the end of the year of say £5,000 would be able to claim back £3,000.

FRECo will be able to apply for members EIS 3 certificates approximately 4 months after the installations start generating electricity. Tax relief can be claimed in the tax year the EIS 3 certificate is issued or can be carried back to a previous tax year.

For further details contact your financial advisor or visit the HMRC website

Some More Detailed Information

Under the terms of the Enterprise Investment Scheme there are two main conditions to be satisfied before members can claim income tax relief:

The company has to be accepted by HMRC as a qualifying company.

We have already obtained conditional approval from HMRC before commencing the share offer. This involved explaining the structure of the company, its intentions and its proposals for making a share issue. After the company has been trading for at least four months the company will send a Form EIS1 to HMRC reporting that its conditions have been complied with and providing details of the shareholders who have subscribed for shares in the company. Once HMRC are satisfied they will authorise the company to issue Form EIS3 to each shareholder. These forms are essentially certificates confirming the amount invested in an EIS qualifying company.

The member needs to demonstrate to HMRC that they are a ‘qualifying individual’. In general terms this means that the member is an individual registered for tax in the UK. If the member is in the habit of completing an Income Tax Return there is a specific section on the form to enter details of EIS relief to be claimed. If the member does not normally complete a tax return, it will be necessary to request that you complete one. It is not normally necessary to send the form EIS3 off to HMRC but it should be kept in a safe place in case HMRC request evidence of the investment.