A Peak District whisky distillery that began production three years ago has raised more than £1 million in a crowdfunding campaign.
So far 660 investors have put money into the White Peak Distillery to help with its expansion plans.
Since its launch the business, start-up winner at the 2019 Derby Telegraph Business Awards, has laid down 950 casks – which will fill more than 400,000 bottles – and won domestic and international awards for its spirits and its visitor experiences.
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Owners Max & Claire Vaughan say 2021 is set to be a pivotal year with the October release of its first single malt whisky.
An earlier 24 month aged spirit sold out in 24 hours.
The couple came up with the idea of making their own spirits in 2016 and the first full-scale craft whisky distillery in the Peak District region began production in April, 2018.
The crowd-funding campaign, which values the business at almost £13.5 million, has more than doubled its target of £500,000, and still has more than a week to run.
The money will be used to build sales in the 海角视频 and abroad, in a global market valued at $60 billion.
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To support the growth, the distillery plans to add to its team and increase resources and expenditure on promotion, sales and marketing, and production.
The pair said they had received advanced assurance from HMRC that the shares issued will be eligible for tax relief through the Enterprise Investment Scheme.
Max Vaughan said: “The journey so far has been incredibly rewarding. We’ve come through many challenges, including in the last 12 months, but the whole team are really passionate about the business we’re building. “We’ve invested a lot in the distillery itself and have a significant volume of maturing whisky stocks.
“We’re now ready for the next exciting phase of building whisky sales both here in the 海角视频 and overseas.
“To make the most of this opportunity and so we can accelerate our growth we’ve decided to raise more funding.
“We’ve partnered with Crowdcube to offer people the chance to join us as a shareholder and the interest so far has been amazing.”
The distillery was built in the former Johnson & Nephew Wire Works in Ambergate, within The Derwent Valley Mills UNESCO World Heritage Site – an area that came to global prominence in the 18th century as the heartland of the industrial revolution.
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Creating the distillery involved regenerating Edwardian-era industrial buildings that had been empty for over 20 years.
White Peak Distillery worked closely with Derbyshire-based Musk Engineering on the detailed design, engineering and installation. Musk also fabricated the stainless steel vessels and equipment at the distillery, adding to its local provenance.
The whisky stills were handmade to the company’s design by traditional copper smiths in Scotland, and the company sources its oak barrels from around the world including Portugal and the USA.
In all £1.4 million has been invested in plant equipment, and the distillery is operating at 50 per cent capacity – so has room to grow.
In their Crowdcube pitch the couple said: “We set out to question the way whisky was made, and create unique, authentic flavours.
“Yeast and fermentation are at the heart of great flavour in craft beer but we think not enough in whisky.
“Yeast and fermentation are our focus. Our relentless pursuit of flavour is why we believe our whisky will be successful in a premium market where consumers value quality, authenticity and provenance.
“Our home in the former Wire Works sits in a World Heritage Site. The heart of the Industrial Revolution; entrepreneurs, innovators, things made the proper way. A legacy at our core.”