Dingwall, Scotland – based GlenWyvis Distillery, the first community-owned whiskey distillery of the world, has unveiled its second open share offer in a bid to rope in new customers from all around the world. With this share offer, the distillery aims to scoop up £750,000. The initiative comes as an attempt to meet the growing demand from visitors and locals who eagerly wanted to be a part of the project. The distillery made its first share offer in 2016 which garnered investments from more than 2600 members.
Until now, the distillery has already raised £200,000 and the company intends to use the additional cash reserve to speed up the development of the distillery’s visitor center, curb costs of commercial lending and to move gin distilling to Dingwall. The minimum investment required is £250. However, there is an option for investors to pay more in case if they want their names to be inscribed on the walls of the distillery.
The distillery is scheduled to start its journey, this November and it is presently being constructed at the Heights of Docharty. The mash-tuns and stills have already been installed, and the recruitment for visitor center development officer and master distiller is well underway. The unit is expected to be entirely run by green-energy sources.
Sharing his views on the latest move, managing director and founder of GlenWyvis distillery said in a release that by investing the community share offer, the investors will find it even more interesting and exciting to come and explore a distillery that they have invested in. They can derive the experience of being a part of the first ever community-led malt whiskey distillery, he further added.
The steel structure of the distillery was already constructed in the latter half of June and it is now clearly visible on the hillside above Dingwall. Copper stills are expected to be installed later this month, with the first batch of new-make spirit to be produced in late November.