Another major milestone for ZooShare Co-op: financial regulator has approved sale of community bond issueThursday, September 12th, 2013
I’ve written about ZooShare before, so I won’t get into too much background, except to say that it’s a local co-operative in Toronto that wants to turn poop from animals at the Toronto Zoo into biogas that will in turn be used to generate electricity. A very cool project. I am a volunteer director on the ZooShare board, and it has been a great learning experience. In July we hit one major milestone when the co-operative was awarded a 20-year contract to sell its electricity to the province as part of the feed-in-tariff program. This week, we hit another milestone: the Financial Services Commission of Ontario, one of the province’s main financial regulators, approved ZooShare’s request to sell its community bonds. As a result, this fall we’ll be having an active campaign to sell the bonds, which will have a five to seven year term and will offer an annual return of up to 7 per cent. To learn more, visit ZooShare’s website. This is all great news, because now we can raise the necessary funds to begin the process of building our anaerobic digestion and power generation facility at the Toronto Zoo. We are tentatively expecting to launch the bond-selling campaign at the zoo on Oct. 10, so these are exciting times for a tiny co-op that’s thinking big.
On another positive note, ZooShare is also one of 10 social ventures that have been selected to be part of the new Social Venture Exchange (SVX), which is a joint venture of the Toronto Stock Exchange and MaRS that will launch on Sept. 19. Our bonds will be listed on this exchange, which is great exposure for us. As ZooShare executive director Daniel Bida says, “The SVX is the first of its kind in North America and it is surely to attract large interest once it is launched.”
Please consider becoming a member of ZooShare. We’re serious when we say we’ve got lots of pootentional. (Cheesy, I know, but had to say it).