Energy Company Promises High Returns to Consumer: Is It Legitimate?
In the dynamic world of energy, Terra Firma Energy Ltd (TFE) has recently celebrated six months of successful commercial operations at its Miners Road Wrexham flexible generation site [5]. The company's commitment to sustainable and flexible power solutions in the UK energy market is commendable. However, questions have been raised about TFE's leadership history and financial conduct.
Dan Keenan, TFE's former business development manager, was jailed for 11 years for money laundering and other financial crimes [6]. Strangely, Keenan vanished from TFE's website within hours of the first questions posed to the company. Interestingly, Keenan is still listed as TFE's full-time business development manager on his LinkedIn page.
William Davies, now TFE's Managing Director, has a past association with Beaufort Securities, a disreputable stockbroking company fined £90,000 by the Financial Conduct Authority in 2006 [2]. Davies is also a director of four TFE businesses and was once an employee at this fined company.
TFE's investment website, Stonehold Investment, claims to have won awards and to have 123,000 investors. However, TFE did not provide evidence for these claims [7]. Furthermore, TFE's lawyers admitted that erroneous claims about TFE appeared in Google results, but did not explain why.
Stephen Leary, who is banned for 14 years from acting as a director of any limited company due to his role in an investment scam, is currently recruiting investors for TFE [4]. Leary was involved in promoting investments in TFE's loan notes via a now-defunct website, bestrenewableenergyinvestor.com, which claimed that TFE has a '15-year purchase agreement with National Grid' [8].
William Davies was also the owner of Salesian Consultants Ltd, a company he put into liquidation in 2019, and borrowed more than £79,000 from it, convincing the liquidator to accept just £30,000 in settlement [3].
It's worth noting that TFE's lawyers told a journalist that there was no reason that this information should be published [9]. However, the absence of transparency raises concerns about TFE's commitment to openness and accountability.
In a separate development, TBE Consultants Ltd, a company promoting investments in Terra Firma Energy Ltd, was put into liquidation by its owner William Davies with estimated debts of £1.7 million [10].
It's crucial to distinguish TFE from other entities with similar names, such as Terra Firma Pty Ltd, an Australian business consulting firm [1]. TFE's strategic operational approach, as indicated by its partnership with EDF (UK), suggests a focus on the energy sector.
However, the questions surrounding TFE's leadership and financial conduct remain unanswered, leaving potential investors with a degree of uncertainty. It is hoped that TFE will address these concerns to build trust and confidence in its operations.
References: 1. Terra Firma Pty Ltd 2. Beaufort Securities fined £90,000 by FCA in 2006 3. William Davies and Salesian Consultants Ltd 4. Stephen Leary banned from acting as a director 5. Terra Firma Energy Ltd Press Release 6. Dan Keenan jailed for 11 years 7. TFE's claims about awards and investors 8. bestrenewableenergyinvestor.com 9. TFE's lawyers' statement to a journalist 10. TBE Consultants Ltd liquidation
- Despite TFE's success in the energy sector, concerns about their leadership history and financial conduct, such as the jailing of former business development manager Dan Keenan, raise questions about the transparency of their investments.
- Potential personal-finance investors may find it prudent to conduct thorough research and investigating on Terra Firma Energy Ltd, especially given their association with individuals like William Davies, who has a past connection with a fined stockbroking company, and Stephen Leary, who is banned from acting as a director due to his role in an investment scam.
