Nc’nean whisky distillery on the remote Morvern peninsula has raised £1.7 million through a crowdfunding campaign and private investors.
The organic producer based on the Drimnin estate near Lochaline pulled in £1,164,117 through a campaign on the Seedrs platform that closed in December. The remainder came from private investors.
The company had previously raised £7.5 million through selling shares, borrowing money and winning grants to build its distillery in 2017. Malt and grain spirits must age for a minimum of three years before they can be labelled as “Scotch” and Nc’nean said it is on course to release its first whisky this year.
The business has already sold £360,000 of spirit in cask, with its stocks valued at £2 million last March. The company was valued at £16.6 million before last year’s Seedrs campaign.
Management consultant Annabel Thomas founded the company in 2013 with former Drinkaware Trust chairman Derek Lewis. London-based Thomas had holidayed on Morvern as a child and her parents bought the land on which her distillery stands a decade ago.
Thomas said: “Since inception, we have strived to drive change in the whisky industry through experimental spirits and sustainable production. 2020 will be our most exciting year to date as we introduce our whisky to the world for the first time and continue to grow our business.”
Kerry Sharp, director of the Scottish Investment Bank, which invested previously in the business, praised the company for creating jobs in a rural area. She added: “We are excited to see how Nc’nean flourishes in the future and look forward to the release of its first whisky later this year.”
The business is named after Neachneohain, the queen of the fairies in Gaelic folklore. It has already released a botanical spirit and a set of spirits aged in three different types of cask.
