BrewDog Equity for Punks crowdfunding smashes £5m milestone
BrewDog, which is valued at more than £1bn, launched the fifth round of the initiative in October and has raised half of its initial target of £10m.
The fifth round of Equity for Punks is looking to raise the £10m, with the potential to extend to £50m, by releasing 421,052 new shares.
The funds raised will go towards global expansion including the construction of new breweries in Australia and Asia, opening 15 craft beer bars in the UK, increasing the capacity of its UK brewery in Ellon, Aberdeenshire, and the launch there of a dedicated sour-beer facility called The Overworks.
Future plans
About £3m of the money raise by the fifth round of the scheme will be used to equip the facility, which will produce a plethora of sour and spontaneously fermented beers.
BrewDog also announced that it is closer to a launch date for the facility as the necessary materials and equipment are currently being fitted into the completed building.
Specialist equipment such as a custom 50hl Coolship (a large shallow fermentation vessel) is being primed to allow Overworks to harness airborne wild yeasts.
The initiative will run for three months, until 15 January 2018, Shares cost £23.75 each and are issued in blocks of two, with a minimum investment of two shares for £47.50.
Continued growth
Since launching in 2009, crowdfunding schemes have raised BrewDog £41m in funds to support its investment and growth.
The brewery now employs 800 people around the globe, has 47 UK and international bars and two breweries, in Aberdeenshire, east Scotland, and Columbus, Ohio, USA.
Meanwhile, earlier this month (November) BrewDog unveiled a protest beer to remind global leaders to prioritise issues relating to climate change.
All proceeds from the brewery’s Make Earth Great Again beer are donated to 10:10 Climate Action – a charity lobbying for legislative changes to tackle climate change.
