Latest News | 2 October 2023

Crowdfunder launched for waterpower project

Bondholders:
Cromford Mills
Vaillant
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Cromford Mills has launched a crowdfunding campaign to raise cash to help bring waterpower back to the site.

The historic site, which played a pivotal role in shaping the Industrial Revolution as the first successful water powered cotton spinning mill in the world, has embarked on a project to install a new water wheel, hydro turbine and water source heating system.

By utilizing the original water course, this system is expected to generate approximately 20 to 25% of on-site electricity.

The project has been made possible, thanks to the Green Entrepreneur Fund, Severn Trent Community Fund and local businesses, including Vaillant.

However, due to rising costs, a funding gap has been identified – and Cromford Mills needs to raise £60,000 to complete the installation by November.

Eilis Scott, chief executive of the Arkwright Society, said: “With your generous contributions, you’re not just supporting a water wheel; you’re powering education, preservation, and innovation.”

To support the crowdfunding campaign visit here.


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