Naveco Power is working towards becoming one of New Brunswick’s first Community Economic Development Corporations (CEDC). We are becoming a community investment fund, focused on developing energy efficiency and renewable energy projects that provide social, environmental, and economic benefits.
Naveco Power is currently undergoing the process of obtaining a letter of non-objection from the Financial and Consumer Services Commission (FCNB). Upon receiving this letter, Naveco Power will release an initial share offering to the New Brunswick community for an initial raise of $1,500,000.
Funds raised from the initial offering will be allocated towards retrofitting several commercial buildings in Fredericton and the surrounding area. The retrofitting process will make these buildings more energy efficient and utilise renewable energy sources such as wind and solar where applicable.
The purpose of Community Economic Development Corporations (CEDC) is to help communities invest in themselves. Our planned projects will create jobs, increase energy efficiency and renewable energy uptake in the province and help reduce our collective dependence on fossil fuels.
Those who invest in CEDC are eligible for the Small Business Investment Tax Credit, worth 50% of the investment for individuals and 15% of the investment for trusts and corporate entities, which can be used against the investor’s provincial income tax.
As per the FCNB Community Economic Development Corporation regulation, investors must meet the following criteria
- Must be 19 Years of age or older
- Must be a resident of New Brunswick
CORPORATIONS OR TRUST
- Must have a permanent establishment in New Brunswick
This Community Economic Development Corporation or Association offering may be a high-risk investment. This offering is made through an offering document, which can be obtained through a person authorized to sell the eligible shares. This offering is an exempt offering of eligible shares only in New Brunswick. Investors should read the offering document before making an investment decision.