Money has become tight for many people during the coronavirus pandemic, but in the North East, 247 have chosen to use the funds they have to invest in a community renewable energy company.
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Indigo Power announced this week that $300,000 was raised from the new investors in just four days - they had been hoping to reach the target after three weeks.
The company has been setting up energy hubs in the North East with the goal of powering regional communities with renewable energy.
Much of the energy will be sourced from solar panels or homes or bigger locations such as the Old Beechworth Gaol and can bought and sold between customers in the hubs.
The remaining energy required will come from the grid.
Indigo Power managing director Ben McGowan acknowledged the share offer came at a difficult time, with the economy essentially shut down.
He said to make the target in one weekend was a testament to the region's support for clean energy from a local supplier.
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"Despite COVID-19 and the current uncertainty, people from across North East Victoria overwhelmingly backed Indigo Power's vision for regional communities taking the lead on clean energy, and keeping some of the money spent on electricity bills in our region," he said.
"In the current pandemic, people are realising how important local business is.
"We thought there was support for a local electricity supplier when we launched Indigo Power, and this share offer confirms that.
"We're now ready to expand, to supply electricity to households right across the region."
"We will use the funds to keep working to power communities with clean energy through community energy hubs," Mr McGowan said.
"This means expanding our electricity plan to more people across North East Victoria and into the Border Region of NSW, and building more community owned, local renewable energy infrastructure."
Indigo Power used Birchal as the crowdfunding platform to make the offer to investors and co-founder Alan Crabbe said he was shocked and surprised by the level of support given.
"Indigo Power met their target in record time, and we never expected to have one of the fastest sell-out raises in Australia at this time," he said.
"Clearly, there's enormous support for the team behind the company and the clean energy vision for their region."
