The initiative raised £1m in less than 48 hours and has now hit its original aim in just over a month, meaning the business will be able to find projects such as direct wind power for its breweries, CO2 recovery, electric vehicle fleets and converting waste into energy – all part of its bid to become “carbon negative”.
BrewDog has previously secured more than £73m from crowdfunding rounds and it now aims to raise up to £50m before funding is scheduled to close on 28 January 2021.
The further funding will enable further sustainability-focused projects to be activated. This includes solar power for its Berlin, Brisbane and Columbus breweries as well as the Hop Hub in Glasgow.
It will also help with the installation of an eco-distillery for its spirits business in Ellon, Aberdeen alongside building breweries in Asian markets and France – the company’s biggest export market to allow for a reduction in beer miles.
Funding research and development to ensure production and packaging level up to meet its environmental commitments and creating BrewDog hubs across the UK to help local collection and delivery of its beers through an electric fleet of vehicles.
BrewDog co-founder James Watt said: “As investors continue to join our thriving community of Equity Punks, it proves people believe in our ambition for the business and want to be a part of our story. Announcing our carbon negative status earlier this month was the first step in ensuring that, as a business, we’re holding ourselves accountable for how our actions impact the environment.
“Equity for Punks Tomorrow is a critical part of the evolution of BrewDog, as it allows us to fund the next step in our sustainability plans. Every penny from the raise going towards ground-breaking sustainability initiatives. Our aim is for our business to grow while simultaneously reducing our emissions - our success won’t be to the detriment of the planet.”