Verdant Brewing Co., a UK-based brewery, announced on Friday it was extended its equity crowdfunding campaign on Crowdcube, just as the funding round surpassed £750,000 from nearly 1300 investors. The initiative was launched last month and quickly raised its initial £500,000 funding target.
As previously reported, the brewery stated its key focus is on making hazy, hop-forward beer and delivering it to drinkers as fresh as possible. Verdant claimed that over the last four years it has brewed seven of England’s top-50 beers and created a loyal following throughout the country.
“Last year sales grew by 912.4% (from Sept 2016 to Sept 2017) and have doubled turnover this year to £1.1m, increasing capacity to 3,000hl of beer. However, demand implies we could sell at least four times that amount. We hate saying no to customers because we simply don’t have enough beer, so for the last few years, we have been looking for a site big enough to meet the demand for our beers without moving out of Falmouth. We’ve now found the perfect site just 3 miles down the road, and once secured, have designed a state-of-the-art brewery to fill it. All we need is you.”
Verdant also described the new brewery as a bespoke 5-vessel 35hl SSV brewkit with enough fermentation space to produce around 15,000hl a year. The 17,500 sq ft warehouse will also allow us to have a state-of-the-art laboratory and an on-site taproom for the first time, so people can experience the brewery’s way of life first hand.
Funds from the Crowdcube round will be used to helping Verdant expand and the new brewery will quadruple the brewing company’s capacity. Speaking about the extension of the campaign, The Verdant team noted that by extending the campaign for an additional couple of weeks, the brewing company is offering investors some additional time to make decisions and allow others to discover the raise. The initiative is set to close at the beginning of January.
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