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Saturday, June 3, 2023

New Ethex IFISA to support space exploration

A new Ethex Innovative Finance ISA (IFISA) product will enable retail investors to invest in the future of space exploration.

The recently launched Aero Space Kinross IFISA-eligible bond targets five per cent per annum over a seven-year term. The minimum investment is €1,000.

The invested funds will be used to complete construction of a new discovery center in Kinross on the site of a former MOD/NATO satellite communications station. It will become an educational center intended to attract 50,000 visitors a year.

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The project is being executed by the community benefit cooperative society ASSET.

ASSET Chairman Alisdair Stewart said the launch of Ethex’s new IFISA-eligible bond is “a significant step in our journey to realize our overall strategy to create the Aero Space Kinross science and space center in the area.”

“We view the educational link as vitally important and encourage area youth to study with a STEM career in mind,” Stewart added.

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“We would like to invite people to support our vision of creating a visitor attraction themed around flight and space exploration. We have now received £1.6m of government financial funding and the proceeds from this bond offering will complement government funding to facilitate the acquisition of a site for the venue’s creation.

“Crucially, the creation of the venue will allow us to significantly expand our activities in the realm of informal, game-based STEM education to inspire young people to become scientists, technologists, engineers and mathematicians of the future.”

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