Mid-Quarter Investor Update: Q3 2019′ main author: Nicholas Dimmock BA MBA(CASS), Director of Investor Relations, 350 PPM Ltd. Section ‘Sector Commentary’ by the 350 PPM Research Team.
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Headlines
350 PPM: 3 Year Anniversary; Transitions to advising companies on “Defined Exit” and “Milestone Funding” Corporate Structures. Plans FinTech Global Platform to fund pre-construction development of environmental projects.
Solar 350: Assists in placing MX1 (30MW Solar) with Mexican Infrastructure Firm. Agrees Joint Venture with MX Developer going forward: Creates PAPA ONE
– a “Defined Exit” Trading Company.
Storelectric: Progress on collaborators, project workshops and PCI bid. Crowdfunding continues. Mark Howitt (CTO) to speak at Solar and Storage Live and European Utilities Week.
Waste to Energy Solutions: Confirm talks with three of the worlds largest finance houses to buy and fund construction of first 3 Projects aggregate CapEx of which is £300M. Term Sheets for conditions of purchase expected by Mid September.
PAPA One: £200,000 in orders in the first days of launch validates the attractiveness of PAPA ONE’s Defined Exit Model to investors.
Plastic Green Power: Analyses technologies for gasification of plastic (and tyres to increase calorific value), in order to produce syngas to run Gas Peaking Engines.
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Contents
Company Updates:
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About 350 PPM
350 PPM Ltd is an environmental incubator and business accelerator specialising in green investment opportunities often categorised as “ESG” Investments.
350 PPM Ltd directly identifies Companies, Projects and Technologies that it believes will benefit substantially from the implementation of The Paris Agreement; the new global treaty to combat climate change.
350 PPM then structures these opportunities under the UK’s Enterprise Investment Scheme (EIS) where possible and works with, advises, and assists these businesses to achieve pre-agreed milestones in their development.
Effectively, we break a complex process down into 14 achievable milestones, across 4 stages of funding; Incubation, Expansion, Institutional Investor, Listing.
The completion of each milestone increases the value of the business. The completion of all milestones should result in a successful business or valuable asset.
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Sector Commentary
Net-zero becomes UK law
Following on from our last update, the UK now has a net-zero greenhouse gas emissions target enshrined in law. Other countries have already followed suit (e.g. France), or are considering such a move (the entire EU).
Whilst this is of course good news, now the government must ‘do it’, as the Committee on Climate Change (CCC) put it in their recent progress reports to government. These reports highlight a ‘substantial gap between current plans and future requirements and an even greater shortfall in action’.
9th August UK power cut
National Grid ESO has published an interim report into the 9th August UK power cut which resulted in around 1.1 million customers losing their power supply.
In outline, a lightning strike is thought to have caused the near simultaneous loss of two large generators totalling ~1378 MW. This led to a drop in system frequency, well outside of safe operating levels. As there was only ~1GW of reserve power available, the frequency could not be restored using reserve alone. Therefore, the Distribution Network Operators (DNOs) were ordered to enact Low Frequency Demand Disconnection (LFDD) procedures – systematically cutting off power to certain end-users.
This interim report suggests that – despite erroneous media reports to the contrary – a high level of renewable generation was not directly to blame for the power cut and neither was a cyber-attack. However, it is true that renewable generation – especially wind – was considerable at the time of the event, implying low inertia in the system and therefore less resiliency to changes in frequency.
Several investigations into the event are ongoing. A possible outcome is that National Grid will need to procure additional grid services in the future (such as frequency response, reserve and inertia), providing a welcome opportunity for suitable generation and energy storage sites who can supply such services. As a side note, Compressed Air Energy Storage (CAES) – the technology of choice for 350 PPM incubated company Storelectric – provides ‘genuine’ inertia to the system, whilst batteries provide ‘synthetic’ inertia, both of which have their advantages.
System frequency change during the 9th August UK power cut
Another legal challenge to UK low-carbon subsidies
The UK’s latest CfD (Contracts for Difference) auction has been delayed due to a legal challenge. This comes on top of the suspension of the Capacity Market several months ago due to a separate legal challenge.
In outline, Banks Renewables, a developer of onshore wind turbine projects, is taking this action as onshore wind turbines are currently excluded from CfD auctions. Banks Renewables claims that this is discriminatory, going against UK and EU law. Since 2015, CfD auctions have been effectively been offshore wind only. It is not known as this stage how long the delay will be – two weeks is rather optimistically suggested by the company running the auction – but legal proceedings are rarely quick. If successful, the legal bid could potentially open up CfDs to onshore wind, providing a considerable boost to the sector.
Now onto the company reports….
350 PPM Ltd
Starting Price: £0.125 per share
Current Price: £2.40 per share
Please note a 1:100 share split was passed
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In absolute terms, development of 350 PPM started in 2011, with the formation of the company, then under the working title of Atomic Asset Management. Atomic was a convenient acronym for “A ton of money I cee”, which outlines the potential we saw for the business; as long as a new global treaty was approved. However, even though there was a link to management of atomic particles in the atmosphere, in reality it should be Molecular Asset Management as most of the green house gases are of course molecules (CO2, CH4, NO, SO, SF6 etc). This would have also potentially restricted us from particulate and plastic pollution and anyway, there were negative associations with nuclear energy, so the name was changed to 350 PPM.
We hired Tim Hyett FCISI (Fellow of The Chartered Institute for Securities and Investments) in 2015 as MD, CF1 and CF30, pursued FCA regulation, became an Appointed Representative of a FCA regulated firm in August 2016 and started trading in January 2017.
As such, give or take 5 of 6 months, we have now passed our 3 year anniversary and have so far assisted 6 businesses in either starting or developing their businesses: Solar 350, Storelectric, Disarmco, Waste to Energy Solutions, Plastic Green Power and PAPA ONE.
I can report that all of these businesses are doing very well. There is of course a reason for this outside the talents of the executives involved: The Paris Agreement is in force now and the final details of the international subsidies (so called ITMO’s – Internationally transferable mitigation outcomes), should be thrashed out at the annual climate change meeting (Conference of The Parities To The UNFCCC in Santiago, Chile), in December. Conditions for development of environmental projects are pretty good now, but it was the Kyoto Protocol Subsidies that supercharged the profits of environmental projects between 2007 and 2012.
The creation of a new fungible mitigation asset (the ITMO) in The Paris Agreement will further boost the profitability of environmental project development. Please remember, The Paris Agreement will need investment of circa 90 Trillion USD to keep global temperatures under 2 degrees of pre-industrial times. The more profitable the environmental sector becomes the more investment that it will attract. (If you’re sceptical that this will happen, most environmental projects have un-levered IRR’s of between 8% and 18% now, but the additional subsidisation will be applied to the projects now recording 12% and below to broaden the scale of development).
Under the Kyoto Protocol, there were 124 approved methodologies for accessing UN subsidies – across Carbon Abatement, Energy Generation and Energy Efficiency sub-sectors. We anticipate that The Paris Agreement through The United Nations will use similar systems as the architecture is still operational, the structures worked exceptionally well before and catalysed 10,000 environmental projects in the developing world.
Yes, the subsidy name will change, but effectively it will be the same process:
A quick example of how this will work (in simple terms):
A 100 MW Solar park once constructed, will produce 100,000 emission reductions per year against the fossil fuels generation baseline. The project gets credited with 100,000 ITMO’s and then can sell them (in addition to electricity and any domestic subsidy) to a polluter to offset their emissions, or a country to count towards their commitment to reduce emissions under The Paris Agreement.
Although “Afforestation or Avoided Deforestation“, which was approved UN Methodology for subsidisation never really worked under The Kyoto Protocol (as the credits were not accepted by emissions trading schemes around the world due to fears of oversupply) it it should under The Paris Agreement.
As such, the Brazilian Landowner in the amazon will be rewarded for not clearing land, but tending to the Forest and protecting it (a little bit like Silent Running – except on Earth – still a tear jerker even now). I do wonder, gathering from the proximity to the COP meeting in Santiago, if Bolsonaro encouraged the fires to give him more negotiating leverage at the forthcoming meeting. Regardless, incentivisation for protecting the world forests and jungles is needed.
While I anticipate we will identify further companies that we wish to assist in starting or developing their businesses and as this process increasingly becomes a well trodden path (I explain how this is working here), increasingly we are looking to assist businesses offering a “Defined Exit” for investors, or that can be funded against milestones of asset backed development.
I will just provide some background of our thinking in regard to how we operate and the businesses we choose to champion: Conceptually, for a business to become a success, three ingredients are needed; competence and capability, increasing aggregate demand for the company’s products, projects and services and some funding: if you are competent and capable enough, you can still push into a saturated market; if there is huge demand for products and services and the incumbents can’t handle the volume of business they are being offered, newbies will get a chance. Of the three; funding is the least important, which partly explains why crowdfunding is failing; you can have all the funding in the world, but without competence and capability you or an increases in aggregate demand for your products and services progress is going to be difficult.
The other part of the reason for crowdfunding’s failure apart from a complete lack of supervision, is based on the delivery of the funding: all at once, as opposed to being distributed based on the company hitting specific milestones of progress as they do in Silicon Valley; sure Uber announces $1 Billion in funding but actually it is divided up into 14 milestones and paid out in 1/14ths, when the company hits the milestones or tailored the reflect the importance of specific milestone. Everybody knows that newly listed companies generally under-perform relative to their performance before listing, so why would it be any different for crowdfunding.
Regardless, the tech revolution was all about increases in capabilities. The environmental revolution is more to do with increases in aggregate demand for products (and projects) and services.
These defined exit and milestone funded companies will come in two forms: Subsidiaries of established businesses which will specifically develop underlying projects offering a defined exit to investors during a defined period; and Project Companies containing the pre-construction development assets, who will provide a defined exit for investors when the project company is sold to a buyer (which will then go onto construct the project). Both will be funded in milestones with each milestone corresponding to a specific valuation, which potentially provides the opportunity for investors to trade in and out (as long as we have suitable technology platform to facilitate this).
A good example of this is PAPA ONE (Paris Agreement Project Accelerator). PAPA ONE shares are offered at 20 pence, but will increase as it hits its development milestones. PAPA ONE co-invests in projects at the mid stage of pre-construction development, handles the sale of the assets at Ready to Build (or structures construction finance if they can handle this themselves) and looks to provide an exit for investors at 40 pence in 15 months time.
Generally, in my experience of project development (50 projects and counting), semi developed projects get there in the end – they may require additional funding and their maybe time overruns, but they are asset backed and the main risks (land agreement / Indicative Study / Grid Connection) are out the way by the time PAPA ONE invests.
Obviously we have fought to get investors the best terms, but with 700-1000% on offer from Pre-Construction Project Development (develop for $10k per MW in the case of Solar, sell for $100K per MW at Ready to Build), I don’t feel 100% return for investors is over the top.
I do stress that there can be cost and time overruns, but generally they get there in the end.
We then plan to transition this model into an electronic platform and launch this on a global basis to create a Fin-tech behemoth, with hopefully a crazy valuation to boot.
We are in discussions with suitable partners to begin this process now.
350 PPM Ltd has just filed our second year accounts showing a loss of £26,000. With settlement of litigation against a prior client for £35,000, we would be flat on 2018. 2019 is set to be our best year yet, and while my initial figures show we will finish with a £1.3M profit, I think we are safe to say £700k.
In closing, probably the most positive aspect of the last year has been the quality of employee 350 PPM is now attracting.
From Investor Relations Consultants; Chris Gray and Paul Barnett with 50 years of Private Equity experience, to Alex Ellison with 20 years at Morgan Stanley, to Michael Potter; our new CF1, CF30 and MD (Designate); a previous lawyer and barrister with 30 years of City experience, most recently 15 years with Sumitomo, and Otis Harrison, our in house Chartered Financial Analyst (CFA), fresh from Standard Bank.
Company Executives remain strong as always: Paul Campbell from Waste to Energy Solutions has 30 years in the Waste Sector working with such names as Balfour Beatty, ISG Birse and Nuvia Ltd; His partner, Phi Allan was Head of Organics / Anerobic Digestion for Viridor; Adam Smith from PAPA ONE was a Investment Specialist at Schroeder’s and transitioned to Renewables in 2007; and his partner Luis Novella was the youngest Partner at KPMG at the time of his appointment.
In short, the first three years is the real danger zone, as the company crawls out of the primordial ooze and is forced to fight with the other dogs. Once the brand and a track record are established and the business starts to attract quality personnel, I worry less about survival and more about optimising our trajectory, which with our move to into fin-tech, should be fairly steep.
Thank you all for your support. I hope you all make a fortune from investing in 350 PPM Ltd.
350 PPM’s Proprietary Research On The Potential of The Paris Agreement and The Environmental Revolution can be found here:
and here: https://350ppm.co.uk/2018/11/updated-introduction-to-the-low-carbon-economy-and-350-ppm/
All 350 PPM’s Research, Analysis, Comment and Updates can be found here: https://350ppm.co.uk/renewable-money-blog/
Some of our video can be found here: https://www.youtube.com/channel/UCl9DqWwqANTel_2S9_qZC4A
For further information please contact your investor relations consultant who can introduce you directly to The Managing Director.
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Solar 350 Ltd
Starting Price: £2.50 per share
Current Price: £18 per share
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Solar 350 has had a few knocks of late. The recovery is imminent and we are fighting back, but accordingly, its been necessary to mark the share price down from £24: We failed to find the buyer for the 30 MW MX1 Solar Project having marketed the project to over 100 potentials – a loss of circa $900,000 in income, and as the launch of PAPA ONE will invalidate the EIS reliefs for the 12 investors that invested from November 2016 through to March 2017, we have to make provision to offer these investors additional shares in compensation.
As such, there is a loss of forecast income and a small dilatory effect from the likely issue of additional shares. The latter still has to be approved by the Board, but has already been discussed.
On a more positive note, Solar 350 has an active relationship with a large institutional developer as well as a signed term sheet to purchase Mexican project companies at Ready to Build stage. PAPA ONE , an 80% subsidiary of Solar 350 has been set up to fund the remaining development of projects in the Solar 350 pipeline.
Luis Novella and Adam Smith, already mentioned in the 350 PPM section have taken over running Solar 350 and PAPA ONE , and PAPA ONE has so far attracted circa £200k of investment interest in the first days of launch for their “Defined Exit” offering.
Aggregate demand for Solar 350’s projects and services is only going to increase now, in my opinion. Add to this the implicit and acquired competence and capabilities of the team and it makes for very favourable trading conditions going forward.
350 PPM’s Proprietary Research On The Mexican Electricity Sector can be found here: https://350ppm.co.uk/2017/10/sector-research-note-mexican-electricity-sector/
Further Research on the Mexican Market for Renewables can be found here: https://350ppm.co.uk/2018/02/big-mexico-renewable-energy-report/
For further information please contact your investor relations consultant who can introduce you directly to The Managing Director.
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Storelectric Ltd
Starting Price: £0.25 per share
Current Price: £1.15 per share (prior to Eureeca fundraise – Eureeca has a variable discount that decreases at specific investment totals)
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Building on successful funding rounds with 350 PPM, which have raised ~£1.1M, Storelectric is now fundraising on Eureeca.com. Eureeca is an international crowdfunding platform with regulatory licences in the UK, Holland, Dubai and Malaysia. Access the deal directly here.
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The following news is adapted from Storelectric’s July and August newsletters (emailed 12/07/2019 and 15/08/2019):
We are pleased to announce that our Cheshire project has been unofficially confirmed as maintaining its PCI (Project of Common Interest) status for another 2 years. The EU reviews this status every 2 years and the current list expires end 2019. We are now confirmed till end 2021.
The PCI CEF (Connecting Europe Facility) grant bid for our Cheshire project has gone in for approx £20m with 50% expected as grant funding. Letters Of Intent have already been secured to cover the £10m match funding.
Projects are now starting to come online and we have been holding workshops with several key collaborators, with senior people in each organisation. These are:
- NPL, the owner of caverns and land in various locations, who are interested in developing projects with us.
- EDF, with whose renewable energy agenda, scale of operations and technologies there are enormous potential synergies in the UK, France and elsewhere.
- A project developer currently active in the Netherlands and Denmark.
- Mitsubishi Hitachi Power Systems, one of the largest OEMs in power generation and one of the leading Western companies that can provide most of our equipment, with a view to much greater potential collaboration.
More information on the workshops can be found here: https://www.storelectric.com/conferences/workshops/.
We have a further 2 collaboration agreements signed alongside the existing ones, including ERM Ltd and KBB Deep. We are now looking to develop another with an international engineering organisation.
The pathfinder initiative recently set up and initiated by National Grid confirms the position that we posited several years ago, namely that as renewable deployment continues and flexibility reduces the challenges of ensuring grid stability worsen (the recent blackout is one example of the potential consequences). This new initiative seeks to procure grid stability services from the market and for those eventually selected, 10-15 year contracts may be possible. We are assessing how best to get involved and with which partners.
There are unfortunately some delays due to July/August being times in which most people take holidays, we are still awaiting the lease option agreement for our 40MW plant and feedback from NAM’s management meeting although there are some indications (via their parent company Shell) that there is a growing interest in NAM to focus on hydrogen storage.
Following on from our recent nomination acceptance in the 2019 Business Innovator Awards, the judging panel at CV Magazine have made their final decisions and I am pleased to say that we have been crowned “Best Renewable Energy Storage Solutions Provider – UK”.
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Storelectric will be at Solar and Storage Live and European Utilities Week. Mark Howitt, CTO and co-founder, will be speaking at both.
News, articles and videos, including Storelectric on CNBC, can be found here: https://350ppm.co.uk/?s=storelectric
For further information please contact your investor relations consultant who can introduce you directly to The Managing Director.
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Waste to Energy Solutions Ltd
Starting Price: £0.12 per share
Current Price: £0.33 per share
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Fundraising for Waste to Energy Solutions (WES) remains open. For some background, an introduction to the Waste to Energy sector is available.
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Directors Report August 2019
Waste to Energy Solutions Limited (WES) can confirm that they are now in talks with three of the world’s largest finance houses to fund the first three of their waste to energy projects in Corby, Knapton and St Helens.
It is a great leap forward for WES who will now evaluate over the coming weeks the offers in full to choose which is the best for the projects and their shareholders. The three projects with a total construction capex of nearly £300 Million are the first of a pipeline of projects identified by WES’s board which will be developed over the coming years.
Future projects have been identified in Scotland, Lincolnshire, Somerset, Wales and the Midlands.
As part of the negotiations with funders, is the funding of future projects which will tie WES into a commitment of nearly a billion pounds of project funding. This structure will most likely be agreed through a framework agreement, defining payment terms based on the profitability of projects. This will allow WES to scale their development pipeline and work exclusively with one funders.
The development of WES will likely follow the following pathway: develop projects as agent, develop as principal, construct as agent, construct as principal, operate as agent, operate as principal. It is just a case of them building a solid track record to gain the negotiating leverage.
WES has now got to bring all projects together contractually with all aspects of the development stages including negotiating with our EPC partners, feedstock suppliers and energy off-takers.
As developing agent, as a rule of thumb in Waste to Energy, WES should earn circa £1M per project. WES currently has 14 projects in development. You can see Paul Campbell and Phil Allan explaining their business in greater depth here: https://www.youtube.com/watch?v=ranRkb0X_p4
WES technology uses the cleanest forms of energy generation resulting in very significant emissions reductions versus fossil fuel. I acknowledge that the technology is not as clean as Solar or Wind, but it solves a different pollution problem; disposal of waste that would normally be sent to landfill.
350 PPM’s Proprietary Research on the Waste to Energy Market place and the technologies involved can be found here: https://350ppm.co.uk/2018/12/sector-research-energy-from-waste/
For further information please contact your investor relations consultant who can introduce you directly to The Managing Director.
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PAPA One Ltd
Starting Price: £0.20 per share
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Shares launched at a discounted price of 20p and have seen a huge amount of early interest in their first equity round with their defined exit offering.
Adam Smith (ex Investment Specialist at Schroders) and Luis Novella (ex KPMG partner), both with substantial renewables experience are excited about giving investors the chance to capitalise on Mexico’s ludicrously profitable solar pre-development market. Adam has been involved in the Mexican Market since 2016, and Luis from 2015.
They’ve already secured a 134MW late stage site with their local co-developer in Chihuahua and have commitment from a well established institutional fund to buy the site once shovel ready. PAPA ONE then invests in the project along a local development team with a 51% share, brings it to Ready to Build when it can be sold to the institutional buyer.
Clearly, as each milestone of development is achieved, the value of the project increases. Early bird August investors are projected a 75% annual IRR from a 2x exit in 15 months with profits of existing shareholders ring-fenced to guarantee a 2x return where possible.
As stated before, costs and time overruns are a risk, but in our experience (50 projects and counting), projects do progress to completion. There is of course the added benefit that the most time-consuming and riskiest milestones (Land, Indicative, Impact/Grid Connection) are also successfully completed before PAPA ONE invests.
350 PPM’s Proprietary Research On The Mexican Electricity Sector can be found here: https://350ppm.co.uk/2017/10/sector-research-note-mexican-electricity-sector/
Further Research on the Mexican Market for Renewables can be found here: https://350ppm.co.uk/2018/02/big-mexico-renewable-energy-report/
For further information please contact your investor relations consultant who can introduce you directly to The Managing Director.
Plastic Green Power Ltd
Starting Price: £0.14 per share
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PGP Directors Quarterly Report
August 2019
It’s been a busy year for the team at Plastic Green Power Ltd (PGP), in particular the exciting news that PGP has identified two new waste to energy technologies that overall reduce the carbon footprint along with increasing the overall energy efficiency of renewable systems. This allows PGP to assist existing developed and consented projects in becoming more financially viable whilst enhancing the projects GREEN credentials.
PGP has identified several industry sectors where these proven technologies can be deployed including renewable energy, water treatment sites and industrial treatment plants.
Plastic to Green Gas Technology
Disposing of non-recyclable plastics and tyres is a world-wide problem. PGP has identified technologies that have a greener low emission syngas which is deployed for research and testing within a full operational model. The future view is to replace or retrofit existing gas reciprocator plant engines with green zero emission gas formed from the disposal of problematic plastic and heavy wet waste which cannot be recycled.
This unique process turns waste into gas which can be stored or used immediately after being produced.
The working process is as follows:
- Waste is taken in and treated at high temperature by a slow pyrolysis method
- The waste is then converted to gas with integrated gas cleaning system
- The gas is then used to provide the energy at peak load times to the National Grid
Converting Hot Water into Electricity
This technology enhances waste heat efficiency which in turn reduces the overall energy efficiency of plants. This provides renewable base-load energy potentially cheaper than any other energy source and has the possibility to revolutionise the energy industry.
Market sectors of interest include:
- Maritime
- Geothermal
- Industrial sectors utilising gen-sets
- Cement and Construction industry
- Steel works
PGP already have interest in the public water sector along with various renewable energy projects.
In assessing these latest technologies PGP is in negotiations with an industry specialist who shares PGP’s vision and are looking to support the development of the company’s focus and project plans. With over 20 years’ experience in complex technical project development, specialising in biogas, biomass, refined fuel production and advanced mechanical recycling.
These technologies provide Plastic Green Power Ltd (PGP) with unprecedented access to several opportunities in the alternative energy and waste treatment markets. Given the UK Government’s commitment to reducing the impact of waste overall, PGP will seek to capitalise on its management’s experience and commercial relationships in these markets.
PGP executive team and their advisors have many years’ experience in project management and engineering, design and development of medium to large scale solar projects and gas peaking plant development along with working with energy and gas traders to bring projects to the market.
PGP has started working with a number of gas peaking plant developers with a view to securing 10-12 20MW sites non-developed gas peaking assets for further EPC funding. PGP will develop and construct these assets with the intention of securing power purchase agreements (PPA’s) for selling the electricity generated to the grid.
Joint Venture Partners
- JV with E-GEN EPC & Construction Funding
- JV with Funding partner to secure developed gas generation assets option 3mil gbp (Dutch waste technology company)
PGP will complete the following planned stages including:
- Secure options with developers for constructing sites (10/20mw sites available)
- Legal team to be instructed to draft options with developers
- Secure exit funding to enable the EPC to supply construct and build sites. This security will be based on the PPAs
- Agree the terms for a framework agreement to supply construction funding for working with E-GEN and their EPC partners covering the delivery of workable assets.
- Secure funding to for developed assets. Produce and amend existing IM to present these updates.
- 50/50 JV with Dutch partner
- Equity finance
- PPA’s secured
EPC and construction Funders
- One of the largest manufacturers of gas and other engines
- Funding agreement to cover any and all aspects of construction
PGP is now in a unique position to capitalise on the emerging renewable markets whilst establishing its environmental credentials. Working with 350 PPM enables PGP to grow to exploit the opportunities available to the company through these innovative technologies.
See below link, which is a worthwhile reference…
£8bn needed !
Sean Lindgren
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350 PPM’s proprietary research on Gas Peakers, Plastic Recycling and a Video from a site visit can be found here:
For further information please contact your investor relations consultant who can introduce you directly to The Managing Director.
Contact Information
Tel: +44 (0) 203 151 1 350
Fax: 0203 151 9 350
Level 1, Devonshire House, 1 Mayfair Place, London, W1J 8JA, United Kingdom.
To contact us by email, use the contact us page.
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Risk Warnings
If in the course of reading 350 PPM’s Research, Analysis and Comment, individuals identify investment themes or opportunities, and contact the underlying companies or product providers, before proceeding they should seek independent advice in regard to the suitability of those investments in light of their own circumstances. Their decision to proceed having taken appropriate advice is their own, and 350 PPM will accept no liability for the actions of the individual. 350 PPM does not and will not provide any financial advice. 350 PPM’s Sector Research, Trading Updates, Industry Comment and other associated comment is provided for information only and any action individuals take as a result of information provided is of their own volition and responsibility. Individuals should remember that should they decide to invest in the environmental sector, 100% of their capital could be at risk and tax treatment may vary.
Information contained within this post has been supplied by client companies, or taken from sources considered by 350 PPM Ltd to be reliable, but no warranty is given that such information is accurate or complete and it should not be relied upon as such. 350 PPM Ltd will not be responsible for any loss or damage of any kind which arises, directly or indirectly, and is caused by the use of any part of the information provided.
The value of your investments and the income from them can fall as well as rise. An investor may not get back the amount of money invested. Past performance and forecasts are not reliable indicators of future results. Currency denominated investments are subject to fluctuations in exchange rates that could have a positive or adverse effect on the value of, and income from, the investment.
No representation or warranty is given as to the availability of EIS relief / reliefs. Since the requirements to fall within the EIS must be monitored all the time it is possible that if the requirements are met today, they might not be tomorrow. Investors should consult their professional advisers on the possible tax and other consequences of holding such investments.
The investment opportunities associated with this post are only available to persons who would be categorised as professional clients (including elective professional clients), sophisticated investors and high net worth investors as set out in COBS 3.5 of the FCA Handbook:
https://www.handbook.fca.org.uk/handbook/COBS/3/5.html
for professional clients and COBs 4.12.6 R of the FCA Handbook:
https://www.handbook.fca.org.uk/handbook/COBS/4/12.html#DES582
for high net worth and sophisticated investors.
There is no access to the FSCS. Your capital is at risk if you invest.
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