BrewDog crowdfund breaks £10m

BrewDog’s Equity for Punks Tomorrow fundraise has broken the £10m mark, with 54 days remaining to reach its target of £15m.

The campaign has seen 24,000 new investors back the craft beer company, in the final crowdfunding offer at the business.

The fundraise was launched on 10 September and reached its initial goal in just over a month. 

CEO James Watt said of the money raised “every single penny is for the planet”.

The Scottish company now has ‘carbon negative’ status, and is aspiring to be the “world’s most sustainable beer business”, with the raise going towards a renewed environmental mission.

BrewDog will fund projects including direct wind power for its breweries, CO2 recovery, electric vehicle fleets, and converting waste into energy.

Watt said the business was “holding ourselves accountable” for how its actions impact the environment.

He added: “Equity for Punks Tomorrow is a critical part of the evolution of BrewDog, as it allows us to fund the next step in our sustainability plans. Every penny from the raise going towards ground-breaking sustainability initiatives. Our aim is for our business to grow while simultaneously reducing our emissions - our success won’t be to the detriment of the planet.”

Having secured over £73m from previous crowdfunding rounds, BrewDog is looking at overfunding, with a maximum potential raise of up to £50m, before it is scheduled to close on 28 January 2021.

All money raised beyond the initial goal will also support sustainable ideas and concepts around the world.

Projects include solar power for breweries in Berlin, Brisbane, Columbus and its Hop Hub in Glasgow; installation of an eco-distillery for its spirits business in Ellon; and creating BrewDog hubs across the UK to allow for local collection and delivery of its beers via an electric fleet of vehicles.