In 2007, Erik Zimmerman had an idea for creating an aggregated network of solar powered residential homes, called EKO Communities. These EKO Communities consisted of Erik’s neighbours who joined Erik’s crusade to combat rising energy bills while consuming cleaner energy.
Essentially, EKO Communities are about bringing solar power to groups of neighbours at the lowest price. After mortgaging his own home in order to bulk purchase solar panels for the new found ‘solar neighbourhood’, Erik engaged Sustainable Melbourne Fund to seek further funding to bring his idea to life.
The relationship eventuated in an investment into Erik’s ‘EKO Energy’ business that otherwise would have been unavailable through larger funds (and too large for friends and family to pitch in). Sustainable Melbourne Fund is scaled just right for local projects such as this one. Eko Energy has since been acquired by AGL Solar and is flourishing.
Watch Erik’s journey with Sustainable Melbourne Fund.
“Funding from Sustainable Melbourne Fund’s investment program made it possible for EKO Energy to continue its bulk-buying strategy to make solar affordable, which enabled us to grow the business and bring renewable energy within the reach of many more Victorians.”
– Erik Zimmerman, CEO EKO Energy