Posted on Thursday 10 December 2015 by Ulster Business
Brewers at work at Boundary Brewing in East Belfast
A Belfast brewing company has managed to raise over £100,000 for the second time in less than a year through crowd funding.
Boundary Brewing had notched up nearly £111,000 at the time of writing, only four days after launching its Community Share Offer on Monday and not far off its £150,000 target.
The co-operative brewery had originally set the target at just £90,000 but upped its expectations after a flood of demand from new "members".
It plans to use the additional money from its 400 new members to buy better brewing equipment – such as bottling machinery – which will allow it to export and grow the business faster.
The company said it is already in negotiations with distributors in Singapore, China, Hong Kong, New Zealand, Australia, Spain, Sweden, Denmark, Norway, Mexico and to Disney World in Florida and is in the process of exporting to Dublin, London and France in the coming weeks.
Last December the company raised £100,000 in eight days from 447 members and co-founder and brewer Matthew Dick said the latest offering was designed to offer new members the opportunity to play a part in cooperative brewing.
“Since then, the public has reacted phenomenally. And people outside of Northern Ireland are starting to pay attention, so much so that 12 new countries want our beer.”
“This time last year, we raised our minimum in just over three days, which was crazy. But hundreds of people missed out on our initial membership offer. We still can’t believe this second raise has sold quicker than the first.”
The East Belfast brewery’s main beers are American Pale Ale, Big Hoppy IPA and an Export Stout.
As a co-operative brewery, it is wholly owned by its members.