The P2 Steam Locomotive Company, who is building No. 2007 Prince of Wales, has announced that the locomotive is 40% funded, just 4 years since the frame plates rolled.
The donations now exceed £2 million, over 40% of the £5 million needed to have the locomotive complete in 2021.
Pledges towards building this locomotive are also rapidly approaching £3m.
The frames for this steam locomotive were first rolled at British Steel's Scunthorpe Works exactly four years ago on St Georges Day in 2014.
What is a P2 steam locomotive?
The P2s, also known as The ‘Mikados', was the most powerful express locomotive in the UK. Designed in the 1930s by Sir Nigel Gresley, they were designed to haul 600-ton trains. The build of 2007 is at an estimated cost of £5 million and will use modern construction techniques, such as Computer Aided Design (CAD).
Public interest to see this new Class P2 in steam becoming a reality sooner rather than later remains high and 860 people have already signed up for the ‘P2 for the price of a pint of beer per week' (£10 per month or more) scheme since its launch in March 2014.
Additionally, funds have been raised through:
- The Founders Club (over 360 members donated £1,000 each plus Gift Aid – target 100 people), raised over £450,000.
- The Mikado Club (launched in March 2016 with an initial target of 160 members to wheel the engine). Extended in May 2017 to 200 members to also wheel the tender. Now requires six members to be fully subscribed with 200 supporters pledging £1,000 each plus Gift Aid and therefore potentially raising £250,000.
- The Cylinder Club, launched at the P2SLC's last Convention in October 2017, is now fully subscribed with 100 people having already pledged £1,000 each plus Gift Aid and therefore potentially raising £125,000.
- The Boiler Club (154 people have pledged £2,000 each to fund the boiler – target of 300 people – meaning well over half of the £600,000 target now pledged)
- Dedicated Donations (over £225,000 from existing supporters sponsoring a variety of components).
Earlier this month, the Trust launched ‘The Motion Club' to fund the manufacture of the motion for No. 2007. In ten days, the trust has had 24 members sign up, potentially worth £30,000 including gift aid, a superb achievement I'm sure you will agree.
What did the officials say?
Mark Allatt, P2 Project Director and Trustee, The A1 Steam Locomotive Trust, commented:
“We are delighted with the level of support that the project to build Britain's most powerful steam locomotive has received since its launch with over £1.6m spent so far on construction and over £2m donated by our supporters.
“We are now that we will have completed the rolling chassis for No. 2007 Prince of Wales in summer 2018 and we remain on-track for completion of the new locomotive in 2021. However, to maintain this rate of progress we need to raise more than £700,000 per year, which given the nature of the regular donation scheme becomes more challenging as each year passes. Last financial year we more than achieved our budget of £500,000 and this new financial year we have set a fundraising budget of £700,000.
“We would encourage all our supporters who haven't yet contributed to this exciting project to help us to meet these deadlines by becoming a monthly ‘P2 for the price of a pint of beer a week' covenantor, joining The Boiler Club, becoming a member of The Motion Club or taking out a Dedicated Donation. It's time to get on-board!”
- Visit the P2 Steam Locomotive Company website
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