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New Crowdfunding Platform Clean Reach Debuts to Address Funding Gaps in Highly Promising Ocean Energy Industry
Green Technology Featured Articles
February 12, 2014

New Crowdfunding Platform Clean Reach Debuts to Address Funding Gaps in Highly Promising Ocean Energy Industry

By Madhubanti Rudra
TMCnet Contributor

In the face of fast diminishing natural resources levels and in response to increasingly stringent environmental regulations, the scientists and researchers are tasked with finding out the new, potential sources of renewable energy. Ocean energy is green, clean and cost effective. No wonder it is making strong headway in the renewable energy sector in the recent times. However, the momentum can be lost in the absence of steady flow of funds. Realizing the all important role of early stage funding for a fast growing sector, Stephanie and Terry Thornton, two premier ocean energy experts have recently launched a new funding company, called Clean Reach.


The newly launched company is going to work as a dedicated crowdfunding platform for the ocean energy  industry, which has strong commercial potentials but still in its infancy.  Currently Clean Reach is funding five ocean energy technology projects and expects to play a more significant role in its future growth.

Despite its strong commercial potentials, an industry can suffer an early death due to the lack of proper and timely funding. As far as ocean energy technologies are concerned, the number of investors are very few, a phenomena that might  impede the advancement of the sector, preventing it from rolling out commercially viable technologies for the benefits of world population.

Clean Reach hopes to make it easier for the industry players to access funding at the crucial junctures of their companies’ growth. It is not just the start ups that experience fund crunch from time to time, even the established developers sometimes suffer the same fate. Clean Reach’s crowd funding platform is aimed at enabling smooth sailing of projects from the conception through implementation stages.

“Funding gaps through all phases of the technology development process are causing innovative and effective ideas to perish. Clean Reach is a resource for developers and communities in need of funding, and for passionate supporters hoping to connect with forward-thinking ideas,” Clean Reach Co-Founder and CTO Terry Thornton explained in a news statement.

“Ocean energy visionaries across the globe have pioneering ideas that, if given the opportunity to reach fruition, can be the difference makers in providing clean, renewable energy to the world population. Creating commercially viable ocean energy technology is paramount, but investors aren't giving renewable energy the attention it deserves. We must work harder now to prepare for the future,” Clean Reach Co-Founder and CEO Stephanie Thornton noted in a statement. 




Edited by Ryan Sartor


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