SCOTTISH brewer and bars group BrewDog has announced that the final round of its Equity for Punks crowdfunding programme will be dedicated to supporting the company’s sustainability projects.
Equity for Punks: Tomorrow opened yesterday (September 10) and will run until January 29, 2021 with a goal of raising at least £7.5 million and a stretch goal of £50m. It will be the company’s last round of Equity for Punks crowdfunding, with the money going towards projects including wind turbines to supply direct wind to the brewery, anaerobic digestion that will turn wastewater into green gas and clean water, which can then be reused by the brewery, CO2 recovery, and a fleet of electric vehicles.
Any money raised above the company’s initial target will be put towards additional projects including the installation of solar panels at BrewDog’s Scottish brewery and the construction of new breweries in France and Asia in order to reduce the company’s carbon footprint in those markets.
The launch of Equity for Punks: Tomorrow comes after BrewDog pledged to make its business carbon negative in the next few years. In addition to the projects funded by the latest crowdfunding the company is also planning a BrewDog Forest in Scotland to remove carbon from the air and is increasing the amount of recycled materials in its packaging.
“In 2009, we launched Equity for Punks, and pioneered a new kind of business model,” said BrewDog co-founder James Watt.
“Equity for Punks: Tomorrow is the next evolution of this, uniting investors across the globe to make a change today to ensure we have a planet to brew beer on tomorrow.
“We believe in action not promises; change is not happening fast enough, it’s time to set a new standard for sustainability and invest in a future we’re proud of.”
Since the first Equity for Punks crowfunding campaign was launched BrewDog has raised more than £79m through the scheme, which offers rewards to investors in return for shares.