Five Points Brewing smashes crowdfunding target
The Five Points Brewing Company smashed its crowdfunding target of £750,000 a week ahead of schedule.
The campaign, which launched on March 9 this year, aimed to raise funds to treble the brewery’s production capacity, as well as bringing the business back to Hackney. It offered members of the public a chance to become a Five Points Funder and receive shares in the business.
Since the launch of the campaign more than 1,250 investors have signed up, helping the brewer to meet its target in advance of the deadline. Its fans can now look forward to the opening of the first ever Five Points Taproom at London’s the Pembury Tavern. The funds will also be used to invest in new brewhouse equipment and fermentation tanks, to help increase production capacity threefold from two million to six million pints a year.
Founder, Ed Mason, said: "We are humbled and excited that so many people have wanted to support the growth and expansion of our business. To have more than 1,600 people invest in our company is, I hope, a testament to the strength of the business that we have grown, and to the excitement that people feel about our ongoing growth and expansion plans.
"We love the fact that more than 1,600 people will literally be invested in the success of our brewery, and that means we will automatically have a community of engaged, committed brand ambassadors.
"This investment will allow us to treble our production capacity, which is really exciting, but also means that we will be able to expand and enhance our range of beers.
"Our plans for new product development include: expanding our seasonal and limited edition release programme; releasing new formats including our 65cl bottle range for barrel-aged beers, and the imminent introduction of 44cl 'tallboy' cans for special editions; we are about to add a new flagship beer to our core range, an IPA in the 5.5% abv range; to continue our transition from 33cl bottles to cans, due to the better quality that cans as a format allows, and the ease of use for both logistics and retailers."