New Zealand brewer, Renaissance Brewing has raised an impressive NZD $700,000 in just 12 days through crowdfunding platform Snowball Effect to help fund new equipment and invest in the export market.
“The offer was for NZD $700,000 in return for a 12.28% stake of the company, as well as shareholder benefits such as free beer and web discounts,” said Renaissance Brewing’s Roger Kerrison.
“The offer sold out in 12 days and was actually over-subscribed. It was more successful than we thought it would be.”
The money has helped fund four new fermenting tanks, which arrived last week, with six conditioners on order.
“We have a new bottling line on order and a keg washer/filler on the water. We have also been investing in export markets and recently started selling in the UK and Japan (to add to the US, Canada, Hong Kong, Malaysia, Taiwan, Switzerland and Australia) and we expect Finland, South Korea and Norway to come online this year also,” said Kerrison.
“Given we are based in a town of 25,000 people, our focus is to build our brand in export markets. By 2017 we expect exports to make up 60 per cent of our beer sales.”
To celebrate the new fermenters and to thank those who helped pay for them, the brewery hosted a ‘crowd-brewed’ beer last week.
“There were two beers in the end that our shareholders decided we should brew via online interaction – an Imperial Black Saison (8%ABV) and a Session Red Ale (4.7%ABV). The Imperial Black Saison has a mild Belgium yeast taste combined with a rich almost liquorice palate – we will sell a little bit of it in keg in the next month and then age the remainder in Marlborough Pinot Noir barrels,” said Kerrison.
“The Session Red Ale is lighter in style, fermented with British ale yeast and with good malt sweetness. It was then generously dry hopped with Pacific Jade, Wai-it, Waimea and NZ Cascade to give it a fruity bitter finish.”