BLOOMBERG - E-commerce visionary Elon Musk and British punk-fashionista Vivienne Westwood see eye-to-eye on a new wave in clean energy: You need to find investors online.
by Louise Downing, Bloomberg
Musk is chairman of SolarCity Corp. (SCTY), a U.S. provider of solar energy to homes and businesses that plans this year to start seeking individuals to invest in solar projects via the Internet. Westwood is backing Trillion Fund, a web platform that seeks cash for wind and solar plants in the U.K.
On both sides of the Atlantic, clean-energy promoters are developing crowdfunding websites that promise to overcome investor skepticism about whether they can earn regular returns. Barely on the corporate radar three years ago, crowdfunding has mushroomed beyond social causes, film projects and garage start-ups toward companies with steady cash flows.