And finally…Crowdfunding galore – community distillery plan nets record £2.5 million
The team behind Scotland’s first ever community-owned distillery are celebrating after backers ploughed a further £1 million into the project through its already wildly successful crowdfunding drive.
The Dingwall-based GlenWyvis Community Benefit Society (GWCBS) smashed its original £1.5 million funding target with two days to spare last month after 1,395 investors invested in the farm-based business venture.
Now, after the fundraising target was increased to £2.25million, more than 2,440 investors from around the world have snapped up a taste of the innovative distillery, which will return whisky making to the Dingwall area after almost a century.
And more than 200 people have also invested £30 to have their names engraved on a “path to the stills” leading up to the distillery’s main entrance.
Last night, farmer John Mckenzie and his team raised a toast to their backers after raising £2,533,510 in the record-breaking online offer.
GWCBS launched it crowdfunding campaign in April offering shares for as little as £250 to anyone living in postcode areas near Inverness.
People elsewhere could buy shares for between £750 and £100,000.
The construction team will break ground on Monday as work to build a visitor centre and production facility gets under way.
The first whisky will hit the shelves to coincide with Burns Night in January, but before then the team have the task of sending investor certificates and rewards around the world.
The share offer attracted supporters in more than 20 countries including Brazil, Finland, France, Hungary, Switzerland and Venezuela and a deal has been struck with couriers DHL.
Meanwhile, Scots shareholders include former First Minister Alex Salmond, who was set to join the celebrations last night.
Not only will the firm be 100 per cent community-owned, the new micro-distillery, near Dingwall, will be completely powered by green energy.
It is the brainchild of Mr Mckenzie, supported by a board of directors and local community representatives.
The Glen Wyvis Community Benefit Society said it had launched the campaign in a bid to “reinstate craft whisky distilling to the Dingwall area”.
Speaking about the potential for the feat to be repeated, Mr Mckenzie said: “Someone will always try and I’ll be very pleased if they do. Whisky is the national drink so it is a great leading project for people to look at and see what they can do.
“We are all people, we have all got elbow grease in us. Everybody can give this thing a go.
“We have created a world first but let’s face it, Scottish people have done that a few times.”
SNP MSP Kate Forbes is due to visit the GlenWyvis site on Monday to raise the flag as workers break ground.
The distillery will also feature on BBC Alba the same day, with a webcam going live to allow the global team of investors to watch as their new company comes to life.