Austrian whisky fan invests in new Scotch distillery
Roland Grain: sharing a vision
Ardgowan Distillery, being built near Inverkip, has received £7.2 million from an Austrian investor to allow work to begin.
Other support from new and existing investors takes total funds raised to £8.4m.
The bulk of the new equity comes from Roland Grain, a 47-year-old founder, owner and CEO of IT company Grain GmbH which operates in 17 countries. He has a long track record of investment in distilleries.
The Ardgowan distillery is also in discussion with a loan provider that will provide additional debt funding for the flagship project in the coming weeks.
Mr Grain said: “My passion for whisky began as a teenager in Austria when I began to collect Scotch whisky and today I am thrilled to become the major shareholder in the Ardgowan Distillery.
“My wish is for this project to create a lasting connection to the community and produce the highest possible quality whisky and over time achieve the lowest possible CO2 footprint.
“The company founders Martin McAdam, Alan Baker and I have a shared vision of what we can achieve.