theconduit. by Carbonlaces Solutions
Engine online · 13 deals routing
§ The Orchestration Layer

Where energy
capital finds
its way.

theconduit is the live graph between megawatts, mandates and markets: a real-time AI engine for energy project finance, binding asset intelligence, flexibility markets, and capital flows, community capital and adaptation finance included. Every saved penny reaches the kilowatt that earned it. Equity, security, impact: routed, not reported.

Request access → White paper: coming soon
liveLayered routing graph / 09:24:56 GMT 13 flows · £115M /day
04. CAPITAL SINKS 03. ROUTING ENGINE 02. MARKET & FLEXIBILITY 01. ASSET & COMMUNITY SR DEBT 5.79% CfD STRK £58.5 SPONSOR 11.7% MEZZ 9.4% CDFI 4.42% G·BOND 3.91% £320M av. £118M av. £58M av. £44M av. £32M av. £20M av. ▮▮▮▮▮▮▮▯ ▮▮▮▮▮▯▯▯ ▮▮▮▯▯▯▯▯ ▮▮▯▯▯▯▯▯ ▮▮▮▯▯▯▯▯ ▮▮▯▯▯▯▯▯ MATCH 0.857 STRUCT 144ms RISK·N 92.1 SYNDIC 13 DRAW 37 SERVCE 219 match score struct latency risk vol syndic count draw queue srv loops ▇▇▆▆▆▅▆▇ ▄▅▅▆▇▇▆▆ ▄▄▄▄▃▄▃▃ ▄▃▂▁▁▂▃▃ ▆▅▅▆▇▆▅▄ ▂▃▄▄▄▄▅▆ SONIA 4.18% N2EX·DA £78.3 DSR/MWh £18.62 CM/kW·yr £42 REGO £6.11 V2G £0.23 o/n / SONIA £/MWh / N2EX £/MWh DSR £/kW-yr CM £/MWh REGO £/kWh V2G ▲ +0.02 ▼ -0.40 ▲ +0.80 ▲ +1.0 — flat ▲ +0.01 SOLAR 185MW BESS·SOC 78% WIND·CF 42.5% DSR/h 14.8MW COM·SOL 64MW RETROFIT 2,854 P52 / 14 sites 3.4 GWh fleet 42% / Q-avg domestic agg. 8.4K hh · LMI homes / PAS2035 ●●●●●●●○ ●●●●●●○○ ●●●●●○○○ ●●●●●●●● ●●●●●●○○ ●●●●●○○○ TRUST RAIL GOV. multisig CBA-led OPEN SOURCE AGPL v3 signed feeds MRV measure report · verify
£1.8Brouted YTD
87smedian match
£48Mcommunity YTD
£3.2Madapt. fund
09:24 GMTPLACED24MW solar · GB-South · senior £26M / 3 lenders▲ 9bps/09:24 GMTROUTING180MW solar PPA · GB ESO · debt + CfD-backed equity stack/09:24 GMTPLACED24MW solar · GB-South · senior £26M / 3 lenders▲ 9bps/09:24 GMTPLACED24MW solar · GB-South · senior £26M / 3 lenders▲ 9bps/09:24 GMTPLACED24MW solar · GB-South · senior £26M / 3 lenders▲ 9bps/09:23 GMTPLACED24MW solar · GB-South · senior £26M / 3 lenders▲ 9bps/09:23 GMTG·BOND£12M LA green bond · Edinburgh · Abundance platform/09:23 GMTADAPT£420K to heat-resilience · Birmingham · funded by REGO sales/09:23 GMTG·BOND£12M LA green bond · Edinburgh · Abundance platform/09:23 GMTCLOSED12MW BESS · GB-North · sponsor + bridge▲ on-time/09:23 GMTRETROFIT1,840 PAS 2035 homes · NE England · ECO4 + private/09:23 GMTADAPT£180K to home weatherisation · Cardiff · 96 homes retrofit/09:22 GMTROUTING180MW solar PPA · GB ESO · debt + CfD-backed equity stack/09:22 GMTADAPT£180K to home weatherisation · Cardiff · 96 homes retrofit/09:22 GMTCOMMUNITY8MW community solar · Leeds · CDFI co-lend + LMI subs▲ on-time/09:22 GMTCLOSED12MW BESS · GB-North · sponsor + bridge▲ on-time/09:22 GMTCO-OP6MW co-op solar · Devon · RCEF + member share offer▲ 14bps/ 04:21 GMTPLACED38MW BESS · GB-North · senior debt £42M / 4 lenders▲ 12bps / 04:18 GMTCOMMUNITY12MW community solar · Bristol · CDFI co-lend + LMI subs▲ on-time / 04:15 GMTADAPT£640K to flood mitigation · Sheffield · drawn from DSR margin / 04:11 GMTCLOSED280-site DCFC portfolio · M-corridor · sponsor + senior▲ on-time / 04:02 GMTRETROFIT2,840 homes / PAS 2035 · NW England · ECO4 + Warm Homes / 03:54 GMTSYNDICATINGC&I rooftop portfolio · 38 sites · bridge → take-out / 03:47 GMTADAPT£280K to home weatherisation · Glasgow · funded by V2G margin / 03:38 GMTG·BOND£18M Local Authority green bond · Manchester · Abundance platform / 04:21 GMTPLACED38MW BESS · GB-North · senior debt £42M / 4 lenders▲ 12bps / 04:18 GMTCOMMUNITY12MW community solar · Bristol · CDFI co-lend + LMI subs▲ on-time / 04:15 GMTADAPT£640K to flood mitigation · Sheffield · drawn from DSR margin / 04:11 GMTCLOSED280-site DCFC portfolio · M-corridor · sponsor + senior▲ on-time / 04:02 GMTRETROFIT2,840 homes / PAS 2035 · NW England · ECO4 + Warm Homes / 03:54 GMTSYNDICATINGC&I rooftop portfolio · 38 sites · bridge → take-out / 03:47 GMTADAPT£280K to home weatherisation · Glasgow · funded by V2G margin / 03:38 GMTG·BOND£18M Local Authority green bond · Manchester · Abundance platform /
Live Telemetry
raw events into the engine
09:24:21→mkt.soniaovernight rate ticked to 4.19% from 4.18%mkt
09:24:19→bess.sc-004state-of-charge at 78%, bid into Dynamic Containmenttel
09:24:14→wind.fa-009capacity factor reverted to 42.6% after maintenance windowtel
09:24:10→engine.matchdeal #C-2026-0418-T routed → 3 lenders in 87scap
09:24:06→engine.drawdraw schedule generated · 4 tranches mapped to 18-day closecap
09:24:01→engine.riskrisk vector recomputed · IRR delta -40bps for deal #C-2026-0411cap
09:23:59→bess.sc-004state-of-charge at 78%, bid into Dynamic Containmenttel
09:23:55→engine.drawdraw schedule generated · 4 tranches mapped to 18-day closecap
I.

Four data layers, one routing graph. The engine that moves capital from sensor to close.

Filed under
Architecture / Methodology
Layer 01telemetry
RAW · 1Hz INGEST

Asset & community
telemetry.

Every project on the platform streams real-time signals: generation, state-of-charge, capacity factor, EV session counts, retrofit deployments, subscriber rolls. Community-owned projects are first-class citizens.

  • Streams ingested2,837
  • Events / second14,198
  • Community feeds148
Layer 02flexibility
SONIA · N2EX · DSR · CM · V2G

Market & flexibility
signals.

SONIA, N2EX day-ahead, REGO clearing, DSR & FFR clearing prices, Capacity Market settlements, V2G bids, pulled in continuously and woven into every term sheet the engine generates.

  • Curves tracked84
  • Refresh latency3.0s
  • Flex £/MWh blended£18.04
Layer 03engine
MATCH · STRUCT · RISK

Routing
engine.

Matches deals to 92 capital partners and 8 community-capital channels, scoring on tenor, geography, technology, IRR, mandate fit, and place-based uplift bonuses.

  • Active flows14
  • Match latency88s
  • Mandates indexed412
Layer 04capital
DEBT · CfD · COMMUNITY · ADAPT

Capital sinks &
structure.

Senior debt, CfD-backed equity, sponsor, mezz, plus a parallel community stack (CDFI co-lend, retrofits, green bonds), and an adaptation reserve fed by flexibility and project margins.

  • Capital partners92
  • Community channels8
  • Adaptation pool£3.22M
II.

A deal in motion: every step traceable, every party in sync.

Anonymised
Sample workflow / 09:24 GMT
Deal #C-2026-0418-T

12MW community solar,
Bristol & Bath.

Sponsor
[redacted co-op]
Total raise
£ 22.6M
Tenor
22 yr blended
COD target
Q2 '27
Offtake
8.4K LMI subs
Day in flow
D+11
Capital stack, orchestrated (incl. community + adaptation)
Senior debt11.8M / 52%
CDFI co-lend4.0M / 18%
CfD-backed equity3.8M / 17%
Green community bond2.0M / 9%
Adaptation reserve (CBA)1.0M / 4%
Live event trace Day 11 of 18 · close target on schedule
D+0 · 09:14 i. Intake. Co-op uploaded shareholder roll, dataroom, and CBA draft. Engine extracted churn-adjusted revenue model and validated 40% LMI carve-out. done
D+1 · 11:02 ii. Place-based uplift. Site validated against IMD Decile 2 and Levelling-Up Plan for Neighbourhoods footprint, qualifies for community uplift bonus. community
D+3 · 14:47 iii. Routing. Matched against 7 senior-debt mandates and 3 CDFI co-lend partners. First IOIs in 87 seconds. done
D+5 · 16:08 iv. CDFI co-lend structured. £4.0M concessional tranche from a Bristol-based community lender; engine blended into the senior waterfall. community
D+8 · 10:18 v. Adaptation reserve set. Engine carved 4% of project value (~£1.0M) into a community-governed Adaptation Fund, replenished from DSR, V2G and CM margins. adapt
D+8 · 16:30 vi. CfD-backed equity stacked. Engine paired AR-7 strike-price-indexed equity at £58.7/MWh; structured 3.8M tranche. done
D+11 · 04:21 vii. Senior tranche placed. £11.8M committed across 3 lenders at SONIA + 215bps, 12bps inside indicative. just now
D+18 · est. viii. Close & first draw. Funds flow; servicing module spins up covenant tracking, CBA obligations, and adaptation-fund disbursements. queued
“The bottleneck for the energy transition isn't capital. It's the connective tissue between every megawatt, every pound, and the communities who deserve a share of the upside.”
From the founders' letter
III.

The people orchestrating the engine.

Operators & builders
The team

theconduit is built by people who have closed deals, scaled energy infrastructure and delivered national-level disaster relief financing. People who have built the rails for the energy and capital market infrastructures. Finance project builders, energy and infrastructure engineers, and community organisers.

Madhuban Kumar
i.Founding

Madhuban Kumar

Co-founder & CEO
Led intersectional energy and finance programmes, including AI and data projects, at national scale. Ex-Centrica, Insight Ventures, and 2× founder.
Mike Hewitt
ii.Founding

Mike Hewitt

Co-founder & CTO
Led critical national energy infrastructure in telco and energy. Ex-CTO of Smart DCC.
Tim Yeates
iii.Leadership

Tim Yeates

Head of Risk
Built the connective tissue between risk management, (re)insurance, knowledge management and compliance, treating them as one discipline rather than four. Ex-Axco and Marsh.
iv.Leadership

Coming soon

Head of Community
We are hiring. If you have spent a career building community-energy or place-based finance and want to help orchestrate it at national scale, write to us.
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Advisory bench policy, finance, climate science
[ Advisor name ]
Organisation
[ Advisor name ]
Organisation
[ Advisor name ]
Organisation
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Organisation
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Organisation
IV.

In the words of the people using the engine.

Sponsors · capital · communities
Voices from the network

The clearest signal that orchestration works isn't a chart. It's what people say after they've closed the deal. The voices below are from sponsors, lenders, CDFIs, and community trustees who have moved a deal through theconduit.

“
Replace this with the strongest quote from your most credible reference. Look for a sentence that captures what changed for them, not what the product does, but what the deal felt like once it was on theconduit.
[ Name, Title ]
Organisation · region
Sponsor
“
A 2–3 sentence quote from a community partner: CDFI, co-op chair, retrofit aggregator. The kind that proves the community layer is real, not marketing.
[ Name, Title ]
CDFI / co-op
Community
“
A capital-side voice: a project finance MD, an infra fund partner, an LGPS allocator. The sentence that matters here is about deal-flow quality or mandate fit.
[ Name, Title ]
Bank / fund
Capital
“
A trustee voice from an Adaptation Fund. Speak to transparency, governance, the audit trail: the things that make community capital boards say yes.
[ Name, Title ]
Adaptation Fund trustee
Adaptation
“
A second sponsor voice, ideally from a different sector (storage, retrofit, EV, geothermal) so the page reads as a network, not a single use-case.
[ Name, Title ]
Organisation · region
Sponsor
Trusted by a representative slice of the network
IV.

From the journal: field notes, case files, white papers.

Long-form
Updated weekly

Writing that goes deeper than the dashboard. Pieces on deal structure, community-capital mechanics, and the operational realities of orchestrating projects through theconduit.

Field note April 2026
How a 38MW BESS found four lenders in seventy-two hours.
A walkthrough of the routing logic, from sponsor mandate to senior debt commitment, for the GB-North storage placement.
Read the field note →
Community April 2026
Why CDFI co-lend is the missing rail for community solar.
The capital stack most sponsors build for community projects has a hole in the middle. Here's the rail that closes it, and how to wire it in.
Read the case file →
Adaptation March 2026
Every kWh of DSR is a brick of sea-wall.
How margin from demand-side response can be ring-fenced, governed, and deployed against the same climate risks the host community is already facing.
White paper: coming soon
III.

Throughput: what the engine has orchestrated to date.

As of
27 April 2026
£1.8Borchestrated
Capital routed YTD▲ 41% vs '25
11.4GW
Capacity financed▲ 2.6GW QoQ
87s
Median LP-match latency▼ from 6 wks
92/148
Capital partners / sponsors+12 in Q1
IV.

The community layer: eight financing rails, in the same workflow.

Network
48M deployed YTD

Most project finance software treats community financing as an exception: a footnote, a manual override. theconduit treats it as a first-class capital rail.

The same engine that routes senior debt and CfD-backed equity also routes CDFI co-lend, community retrofits, green community bonds, and place-based uplift bonuses, because real projects increasingly need all of them, stacked in one term sheet, governed by one waterfall.

Community capital deployed
£48M
Communities served
148
LMI homes financed
184K
i. live · 38 deals

Community solar
subscriptions.

Aggregated household and SME shareholders as anchor offtake. Engine handles share-issue modelling, churn-adjusted revenue, and LMI carve-out compliance under the Smart Export Guarantee and CCBS share rules.

Typical size£3–40M
Tenor15–25 yr
LMI carve30–40%
routing now 12MW · Bristol
ii. live · 22 deals

CDFI
co-lending stack.

Responsible Finance and community lenders stack senior with conventional banks, unlocking projects in deprived areas. Engine handles concessional rate blending across 34 partner CDFIs covering all four UK nations.

Typical tranche£0.5–20M
Coupon3.8–5.2%
Geo focusIMD D1–D3
average rate 4.41%
iii. live · 41 deals

Community
retrofits.

PAS 2035-compliant whole-house retrofits aggregated into investable portfolios. Engine routes ECO4, GBIS, Warm Homes Plan, Public Sector Decarbonisation Scheme, and Local Authority funding alongside private patient capital.

Per-home cost£12–40K
Funding mixgrant + debt + bill
StandardPAS 2035 / 2030
homes routed YTD 11,843
iv. live · always-on

Energy community
bonus credit.

Place-based uplift for projects in IMD Decile 1–3, post-industrial towns, and Plan for Neighbourhoods areas. Engine validates LSOA-level eligibility in real time against UK Govt deprivation indices and regional growth zones.

Bonus value+8–12% IRR
Validationrealtime
Qualified312 / 412
LSOAs indexed 32,844
v. live · 18 deals

Cooperative
ownership (CCBS).

Co-operative & Community Benefit Society projects: community share offers under FCA registration. Engine routes Rural Community Energy Fund, CARES (Scotland), Innovate UK, and CFC lines alongside member equity.

Typical size£1–80M
Tenor20–35 yr
SourceRCEF / CARES / CFC
members reached 42,805
vi. live · 41 deals

Community benefits
agreements.

Formalised local-equity carve-outs: jobs, training, energy-bill credits, and community climate funds. Engine drafts and tracks CBA obligations against project financials so commitments don't quietly get cut at close (NPS-EN3 aligned).

Project value1–4% reserved
Trackingautomated
Live CBAs41 active
committed £6.4M · 41 CBAs
vii. live · 9 deals

Green community
bonds.

Local Authority and B-Corp issued green bonds for place-based investing: UK Municipal Bonds Agency, Abundance Investment, and direct issuances. Engine handles use-of-proceeds tracking and ICMA Green Bond Principles alignment.

Typical raise£5M–£800M
StructureLA / corp
Coupon3.4–4.6%
last issuance £18M · Manchester
viii. live · 14 deals

Microgrid
co-op financing.

Member-financed resilience microgrids, typically rural, island, or post-flood recovery zones. Engine structures cost-share, grant matching (Innovate UK, DEFRA, Environment Agency), and cooperative governance into one stack.

Typical size£0.4–12M
Mixgrant + member eq
Active sites14 / 9 LAs
resilience hours 68,375
Every community-tagged project compounds margins,
bill savings, REGOs, flexibility, capacity payments.
routed downstream into
a community-governed
Adaptation Fund.
V.

From flexibility margins to resilience: every saved penny fuels local adaptation.

Live
£2.7M deployed YTD

Every community-tagged project on theconduit generates ongoing margins: energy bill savings, REGO sales, DSR & firm frequency response, V2G earnings, capacity market payments, and CBA reserves. Rather than letting those flows leak into the system as opaque developer fees, the engine routes them, automatically and transparently, into a community-governed Adaptation Fund that deploys against the climate risks the same community is already facing. The result: every kWh of demand-response is also a brick of sea-wall.

Margin sources · 6 streams

Where the savings come from.

Six recurring revenue and savings streams, heavily flexibility-led, are tagged as community-attributable at the moment of contract. Engine tracks each stream against asset performance.

Pool · governed

The Adaptation Fund.

Pooled, transparent, controlled by community trustees. Engine handles disbursement waterfall, audit trail, and ICMA-aligned impact reporting.

Adaptation deployments

Where the pounds go.

Six deployment categories aligned with the UK CCC third climate change risk assessment. Each has its own approval flow, vendor pool, and impact metric.

i. ENERGY BILL SAVINGS £0.95M / yr avg £88 / household · 11K subs ii. REGO & ROC SALES £0.61M / yr £6.20 / REGO + ROC · grandfathered iii. FLEXIBILITY (DSR + FFR) £0.57M / yr £18.20 / MWh · DC, DM, DR services iv. V2G + CAPACITY MARKET £0.41M / yr £0.24/kWh V2G + £42/kW-yr CM v. CBA RESERVE £0.41M / yr contractual · 4% project value vi. CO-OP / SHARE SURPLUS £0.21M / yr spread · LMI tariff vs market COMMUNITY ADAPTATION FUND £3.19 M / YR INFLOW DEPLOYED YTD £2.70M RESERVE £0.51M TRUSTEES 14 ELECTED i. FLOOD MITIGATION £0.73M SUDS · barriers · culverts ii. HEAT RESILIENCE £0.54M cooling hubs · canopy · shading iii. WEATHERISATION £0.62M fabric · loft · cavity · windows iv. MICROGRID HARDENING £0.38M storage · switchgear · blackstart v. WATER RESILIENCE £0.28M capture · drought · drinking vi. EMERGENCY HUBS £0.16M resilient cell · public alerts
Pool inflow rate
£3.19M/yr
net of fees · 6 sources
Flexibility £/MWh
£18.18
DSR + FFR blended · 30d avg
Capacity Market
£42/kW-yr
T-1 + T-4 weighted · GB
V2G yield
£0.24/kWh
BiDi avg · 1,840 vehicles
£ saved : £ adapted
1.00 : 0.84
incl. trustee & audit costs
Community NPV uplift
£14.6M
25-yr horizon · 3.5% real
VI.

Built for every side of the ledger.

Network
92 LPs · 34 CDFIs · 148 sponsors

Three ledgers, one engine.

theconduit is the system of record for project sponsors structuring their next raise, the deal-flow OS for the institutions that fund them, and the orchestration layer for the community capital and adaptation finance that make hard projects bankable.

It replaces the tab-soup of dataroom logins, ad-hoc spreadsheets, and 11pm emails between bankers, without taking anyone off the systems they already trust.

See partner roster →

For sponsorsi.

  • IPP & developer platforms62
  • YieldCos & aggregators14
  • C&I rooftop portfolios21
  • Storage & co-located BESS18
  • EV charging operators9
  • Geothermal & firm clean6
  • Industrial decarb11
  • Microgrids & community7

For capitalii.

  • Project finance banks23
  • NWF / GBE / UKIB3
  • Pension & LGPS pools9
  • Infrastructure funds12
  • Insurance balance sheets9
  • Private credit / mezz8
  • Sovereign & export agency5
  • Family offices11

For communitiesiii.

  • Responsible Finance / CDFIs34
  • Community Energy England members28
  • Local Authority green-bond issuers19
  • UKMBA & Abundance platforms2
  • Devolved nation programmes14
  • RCEF / CARES / Welsh CET6
  • Community climate funds22
  • DEFRA / Innovate UK rails9

Move your next deal, and the community upside, through the engine.

Onboarding takes a single conversation. No replatforming, no rip-and-replace: theconduit sits alongside your dataroom and your CRM and connects what's already there.

Book a routing demo→