Guinness Sustainable Energy EIS Team

Tim Guinness

Fondateur & Responsable des Investissements

Shane Gallwey, CFA

Gestionnaire de fonds

Edward Guinness

Gestionnaire de fonds

Dr Malcolm King

Gestionnaire de fonds

Chris Villiers

Chris Villiers

Investment manager

Hugo Vaux

Hugo Vaux

Analyste (EIS)

Lord FLight

Lord Flight

Investment Committee

Tom Hill Norton

Tom Hill-Norton

Investment Committee

Andrew Martin Smith

Andrew Martin Smith

Investment Committee

Giles Robinette

Giles Robinette

Chef comptable, financier et de la Conformité

EIS Investment Strategy

The Investment Manager will primarily invest in companies that develop, build, own and operate energy projects in the UK and that are eligible for EIS Reliefs. It has developed its investment strategy with the aim of delivering investment returns in excess of £1.20 per £1.00 invested (net of all fees and before EIS Relief). The key elements of the investment strategy are summarised below:

Sustainable Energy

The Investment Manager will primarily invest in companies that develop, build, own and operate Sustainable Energy projects. These projects are characterised by long-term, stable revenues, in some cases inflation linked. The Investment Manager will invest across a number of project types where attractive opportunities are available.

Diversification

The Investment Manager will typically make Investments of between £500,000 and £5,000,000 in each Investee Company. Investee Companies may own several renewable energy generating installations across several technologies, providing diversification.

Proven Technologies

The Investment Manager will aim to minimise technology risk by only investing in companies that use proven technologies with an established operating history. Where possible it will secure equipment performance guarantees from manufacturers. Banks typically identify certain equipment that they will lend against, and the Investment Manager aims to make Investments that facilitate future bank financing.

Consented Projects

The Investment Manager believes the optimal trade-off between development risk and financial return can be achieved by investing in a company which has already achieved the required permissions and consents, but before it has started construction. The Service may also invest in companies developing earlier stage opportunities or companies with later stage operating projects where the risk return profile is attractive.

Strong Counterparties

The Investment Manager will seek to work with companies whose project developers and engineering, procurement and construction (EPC) contractors have a successful track record of delivering operating projects on time and on budget. It will also seek to work with high quality counterparties on long term contracts.

Asset Backed

Investment Manager will only invest equity in companies, often at the construction stage of a project. Investee Companies may look to raise debt finance once they have stable operating histories. The Investment Manager prefers early stage companies to be 100% equity financed, ensuring Investors have senior claim over cash flows and assets.

Pre-approved

The Investment Manager will confirm that Investee Companies have received EIS advance assurance from HMRC prior to investment.

Visible Exit

The Investment Manager will exit Investments individually or as a portfolio as soon as practicable after the EIS Three Year Period. Investee Companies are expected to be attractive to third parties looking to secure stable, and in some cases inflation-linked cash flows. The main routes to exit are likely to be a trade sale, a sale to an aggregator, or a sale to a financial buyer. The Investment Manager is incentivised to ensure an exit within five years as no Monitoring Fee will be payable after that period.

EIS Investment Process

Our formalised internal Investment Process helps to ensure that due care is taken in the identification, selection, execution, monitoring and exit of the Fund’s Investments.

eisinvestmentprocess