Back to search


KVAL: COOLCROWD 2.0 - Testing of a local crowdfunding concept for financing climate mitigation measures in Norwegian agriculture

Alternative title: COOLCROWD 2.0: Utprøving av et konsept for lokal folkefinansiering av klimatiltak i norsk landbruk

Awarded: NOK 0.50 mill.

The project COOLCROWD 2.0 builds on a previous research project funded by the KLIMAFORSK program. The purpose of COOLCROWD was to assess the potential for a locally crowdfunded system that enables Norwegian farmers to install climate-friendly technologies on their farms and the Norwegian public to invest in local climate mitigation measures. The project developed a business model concept that is ready for implementation by industry partners. However, there is the need to gain more knowledge on the potential of the concept that will help to determine a future commercialization path. The aim of COOLCROWD 2.0 is to test out this concept in a pilot study, which will help to verify the theoretical findings related to the willingness to pay by backers, provide more information on the type of backers, farmers’ experiences with crowdfunding and the overall feasibility of the concept. Moreover, COOLCROWD 2.0 will help to make the concept of local crowdfunding more known in the Norwegian society. The project will focus on solar PV systems and biochar as two types of climate mitigation technologies that have high potential to reduce climate emissions from agriculture. COOCLROWD 2.0 will invite 2-4 farmers interested in solar PV and biochar to present their climate crowdfunding campaigns online for Norwegian backers. The campaigns will be presented on a recently launched crowdfunding platform Drivkraft, which focuses on locally produced, sustainable food. The researchers will then conduct interviews with the farmers to get insights on their perceptions of the crowdfunding process. In addition, they will conduct interviews with a sample of backers to discuss their motivations for crowdfunding these campaigns. As a result, the project will provide a report with further recommendations for commercialization of COOLCROWD concept.

Funding scheme: