If you arrived at this site expecting it to be the official site of I-Transact, Renovare Fuels, Apex Alternatives or any of the other companies mentioned on the site you are in the wrong place. Although we mention those organisations and the people involved in them, this site is not associated with them and does not represent their businesses in any way. If it was your intention to visit their sites you should immediately navigate away from this site. This website publishes information on the illegal Solari Energy scam and the parties involved in structuring, promoting, servicing and/or operating it.
Investors paid money to purchase ‘profit shares’ in Solari Energy, a loss-making Australian company.
The sale of ‘profit shares’ is a FCA regulated activity. None of the parties were authorised to sell regulated products to ordinary retail investors.
The people involved deducted ‘fees’ of approx 85% from the investors’ money. This left only 15% to be sent to the investment. Investors should be very wary of having any dealings with the people involved in this investment.
Solari Energy in Australia – owned by Doug and Dorothy Fletcher.
Matthew Stone and Duncan Clark who both played key roles and subsequently moved on to become directors of Renovare Fuels Ltd in the UK.
I-transact Ltd, Constantine Pagonis, GBG, Nick Bradshaw, Mark Townsend, Volopa, Igoria Trade, Argyle Stone Ltd, Lewis & Hunt, Apex Alternatives, Anthony Whymark, and a number of sales agents we will list on the blogs. More info on all of the parties to follow.
Safe Or Scam and a solicitor representing a group of 37 investors made contact with the main parties involved in the scam. Some have been co-operative. Others have not.
The group intends to pursue the parties involved in this scam to recover funds on the grounds of breaches of Financial Conduct Authority regulations, mis-selling, providing false and misleading information and unjust enrichment. The sum involved is close to AUD 4m. This website will be regularly updated with information in the public interest.
According to a number of the parties involved in the scam the main people who brought the investment together were Matthew Stone and Duncan Clark, now of Renovare Fuels Ltd. Those parties claim that Matthew Stone and Duncan Clark recruited the sales agents and the back-office services company. Stone & Clark were described as the ‘face of the investment in the UK’. The companies they recruited have been implicated in multiple scams involving tens of millions of pounds.
Duncan Clark was described in emails as the ‘Operations Manager’ of GBG Financial. He is now described at Renovare Fuels Ltd as ‘Director of Operations’.
Safe Or Scam has corresponded with the solicitor representing Matthew Stone and Duncan Clark. We will publish that correspondence on the blogs.
GBG, based in Hong Kong, collected the money from investors and disbursed it to all the parties involved.
Solari Energy, based in Australia, was the entity which investors believed would be receiving their money. Investors had no idea that only 15% or so would end up with Solari Energy after ‘fees and commissions’ of around 85% were deducted.
When Safe Or Scam analysed the investment we found that this very small, loss-making, australian company owned by one man and his wife was being valued at $50 million.
The Link to Renovare Fuels…
Several parties involved in the Solari scam have described the roles played by Matthew Stone and Duncan Clark, now of Renovare Fuels Ltd.
We were informed that they controlled access to all the files on the investment and that the main contact was Duncan Clark because Matthew Stone was quite difficult to get hold of as he spent a lot of his time travelling between the UK and his home in Miami.
Matthew Stone is the current CEO and 60%+ shareholder of Renovare Fuels Ltd.
Renovare Fuels Ltd is a company which has gained credibility from its relationship with T2C-Energy LLC in the USA. It has been using that relationship to raise money from investors in the UK.
The Renovare Fuels Information Memorandum makes no mention of any involvement in the Solari Energy investment. The CVs of both Matthew Stone and Duncan Clark make no mention of Solari at all.
The former CEO of Renovare Fuels Ltd, Kevin Godlington, who resigned as a director of Renovare Fuels Ltd in January 2018, was front and foremost in the Information Memorandum for Renovare Fuels Ltd despite only owning 3% of the company’s shares. Matthew Stone owned 67%.
A check on Mr Godlington revealed he has been the director of two companies which went into liquidation owing creditors more than £700,000. His filings at Companies House make interesting reading and will be covered in later blogs. It raises concerns over the honesty and transparency of the Renovare Fuels fundraising.
Syndicate Room, who raised the initial investment for Renovare Fuels (shortly after the collapse of the Solari investment), made no comment on whether or not they were aware of the involvement with Solari or the Godlington filings at Companies House. T2C-Energy have also declined to comment.