Role: 1137

To apply for role and complete application form click 'here'

Investing Advisory Board member with expertise in Policy/Lobbying is required for our client in the renewable energy sector, based in the Enterprise Lab, Imperial College, London.

The business concept is to be an “Energy as a Service” provider (EaaS) where virtual solar farms are created using proprietary technology with the aim to reduce electricity bills by circa 20%. The concept also provides a decentralised “peer to peer” model to boost energy efficiency.

The company is looking to strengthen their Advisory Board with the appointment of an additional member to contribute to the growth of the company. 

The Advisory Board member will be encouraged to become a shareholder in the Company to align their interest with that of the existing Directors and Advisory Board members who are, or plan to become shareholders through investing.

Business Concept:

Our client was formed in 2019 at Imperial College, London with the idea of offering consumers the opportunity to have decentralised renewable energy by using a Peer-to-Peer network run on blockchain technology.

  • Power generation is a leading contributor of greenhouse gas emissions.
  • Fuel poverty in the UK is on the rise, Ofgem reports a 10% increase in energy bills from 2017. Going off-grid is generally too expensive - Businesses and Households cannot afford solar installations.
  • There are no current incentives for solar installation in the UK which has fallen 94% since the halt of the feed-in-tariff.
  • Our client will provide their energy subscribers with solar panels, installed and maintained for FREE, making it one of the top “Energy as a Service” providers (EaaS) in the UK and ushering in the era of peer-to-peer energy trading.
  • Company mission: to make renewable energy very affordable for the average business and home through energy sharing, powered by solar panels and blockchain technology.

 

Market & Opportunity: 

  • The UK has over 21 million energy consumers. Energy accounts for 3.9% on average, of the UK household’s total expenditure. Ofgem reports Households and Businesses spend £55 billion on gas and electricity annually.
  • Our client is targeting industrial consumers in the first phase, where regulatory requirement is lower than for residential customers and thus early-stage growth would be accelerated.

 

Client Proposition: 

  • Our client is looking to close an investment round of £350,000, of which £325,000 has already been invested by 13 Advisors and NED’s.
  • Use of Funds:
    • 50% product – blockchain development, energy supply licence, Patent filing
    • 35% Operations – ERP and CRM solutions, App and website development
    • 15% marketing – Pilot installation, Product demos, Advertising, Social media

 

Advisory Board Member Role/Requirements/Expertise:

  • The company seeks an Advisory Board member with Policy experience and a strong network who can build our profile as we move through Pilot to roll-out.
  • You will have a strong conviction to a greener future.
  • Experience of, or connections to Lobbying activities as we seek to build an image at the highest levels of what Sitigrid can deliver for the UK – reduction in energy poverty, lower emissions, energy to meet demand from EV’s, negate the requirement to spend huge sums renewing the grid………
  • Constructively challenging but supportive style.
  • Initial investment of £25k in line with all other investors.
  • Sufficient time to prepare and participate in meetings.
  • A can do / will do attitude.
  • It is expected that the role will require approximately 2 or 3 days per month – more in the early stages.
  • The Advisory Board member will be encouraged to become a shareholder in the Company to align their interests with that of the existing Advisory Board members and Directors who are all shareholders. The company is registered for the EIS scheme which provides 30% tax relief and up to 100% capital gains relief subject to status.

 

Closing date for applications: Friday, 18th June 2021

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