Iduna 2 — countdown to closing; progress update
Iduna’s second investment on Abundance is closing on 31 May, and they have already been busy putting investors’ money to work to deliver on their vision to create a public EV charging network across the North West. Read on for their latest update on their exciting progress!
Iduna is making waves beyond the UK — winning its first international award last week for Be.EV: Transport Project of the Year in the Partnerships Awards, beating a global set of nominees to the prize.
Also last week, Iduna signed up its first local authority outside Greater Manchester (the news is still confidential but we will share with investors as soon as it is made public). Back in Manchester, the roll-out in Trafford is gathering pace, with phase 1 chargers going in the ground in the coming weeks and the council accelerating phase 2 lease signings.
The image below shows freshly unwrapped rapid chargers destined for sites across Trafford and at Cheadle Mosque.
Also pictured are, sites at Flixton Road, Thorley Lane and Longford Park in Trafford that will be prepared for charger installations:
More installations are underway, including the first of the taxi dedicated chargers in Manchester, like this one on Hardman Street:
As more and more site leases are signed and roll-out is ramping up, the team is bringing partners on board for extra boots on the ground. The latest to join the team is Morrison Energy Services, who have the scale and experience to support an ambitious roll-out.
And lastly, earlier this month, the Be.EV network welcomed its 10,000th member. That’s up by a third since the start of the raise, and shows EV take-up really gathering pace in the region.
RISK WARNING
As with any investment, there are risks when investing on Abundance. Your invested capital is at risk and any return on your investment depends on the ability of the company or council you have invested in to pay your returns. Investments on Abundance are generally long term and you should be prepared to hold them to maturity. The investments are illiquid and you may not be able to sell them if you need your money back earlier, and their value can rise or fall. Some investments may be secured, but this does not guarantee repayment or your return.
Quoted returns are no guarantee of future returns and past performance is not a guide to future performance. Specific risks will apply in relation to each investment. Please consider all risks before investing and read the Offer Document or Factsheet for each investment. The investments on Abundance include debentures or bonds and peer to peer loans — Abundance’s service in relation to loans is not covered by the Financial Services Compensation Scheme (FSCS).
