Community-owned GlenWyvis distillery, near Dingwall in the Scottish Highlands, has announced another opportunity to buy shares in the venture, aiming to raise up to £2 million to allow it to increase production and drive tourism into the area.
Established in 2015, GlenWyvis’ purpose is to unite the community of Dingwall around a distillery owned by local people – claimed to be the first of its kind in the world.
Since its inception, the project has raised £3.7m for the construction and operation of its renewable energy distillery, distilled over 222,000 litres of absolute alcohol, filled more than 1550 casks of varying sizes, and released three expressions of Highland Single Malt Scotch whisky.
In the course of all that, GlenWyvis has generated £50,000 for the local community and awarded grants totalling £30,000, becoming one of the largest registered Community Benefit Societies in the UK.
In line with its previous crowdfunding campaigns, each new share is being offered for £50 with a minimum option of five shares, totalling £250. In return, as well as owning part of a Scottish distillery, investors get exclusive member bottlings, investment rewards and a 20% discount on all sales.
The funds raised will be used to pave the way for increased production by expanding a bonded warehouse and building a low-volume bottling facility. They will also pay for a new visitor experience.
Chair of GlenWyvis, David McIntyre, said: “We are excited to extend an invitation to participate in our third share and members’ bonds offers. This is an opportunity to become part of a community that is not only dedicated to the craft of whisky and gin production but also deeply committed to making a positive impact on people’s lives in Dingwall and beyond.
“At GlenWyvis Distillery we carefully handcraft our spirits with a blend of traditional techniques and modern environmental consciousness. We are passionate about supporting our local community and in line with this commitment, we are proud to have allocated grants to educational and cultural initiatives, as well as to local entrepreneurs to help their businesses grow.
“We believe that our share and bond offers will resonate with those who share our values and interests,” said McIntyre.
“Whether you reside locally or are simply drawn to the rich history and culture of Scotland, there is a place for you in our community. We eagerly anticipate welcoming our newest shareholders aboard as we continue our journey of crafting exceptional whisky while making a meaningful difference in the lives of others.
“Join us in this endeavour and become a part of something truly special.”
GlenWyvis currently has 3625 shareholders, of whom 28% live close to the distillery, 44% live in the rest of Scotland, 16% live in the rest of the UK and the remaining 12% live in 36 countries worldwide.
Distillery director and head of the GoodWill Fund, Jock Ramsay, added: “The grants we have awarded so far cover a huge range of good causes, from funding for a lunch club for children suffering from stress and anxiety to promotional videos for local companies.
“Five per cent of all online sales are allocated to the GoodWill Fund and this year we are donating over 18% of net profit to the local community in and around Dingwall. We have just announced the second round of grants which means this fragile rural community is beginning to see the transformative potential of this project. All this could not have been achieved without the generosity and support of our shareholders.”
