HOLYROOD Distillery has secured £2 million of funding to drive its expansion plans.
The finance, which has been provided by wine and spirits asset finance specialist Ferovinum, will be used by the Scotch whisky producer to fund new fill casks and develop its present in export markets. It comes nearly five years after Holyrood was founded in the centre of Edinburgh in 2019 and follows the launch of its inaugural whisky, Arrival, in October – one of the first new malts to be produced in the city in a century.
Ferovinum, which was set up by Mitchel Fowler and Daniel Gibney in 2018, is a financial technology platform offering flexible and tailored funding solutions for the wine and spirits industry, backed by £100 million of institutional finance. It entered the Scotch whisky industry in 2022, with the operation led by drinks industry veteran Gregor Mathieson, its director of spirits.
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The deal with Holyrood has seen the distillery release capital from its maturing cask inventory.
Mr Mathieson said: “The Holyrood team has achieved a remarkable feat in the past few years, bringing a thriving new distillery to the heart of Edinburgh and leading a bold new era of modern whisky making in Scotland.
“Following the success of their excellent first single malt Arrival, this is their time to grow, and to showcase their highly innovative and extraordinarily good spirits to the world. Their need for partners who share their ambition, and who can provide genuine, specialist and hands-on support, means they are a perfect fit for Ferovinum and our technology.
“With the brilliant foundation they have put in place, we know that Holyrood’s spirits are ready for take-off, and we are very proud to be playing a part in their ongoing success.”
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Holyrood Distillery and visitor centre is based a short walk from arts venue The Pleasance. It was developed by Rob Carpenter and his wife Kelly with Scotch whisky industry veteran David Robertson, a former master distiller of The Macallan.
The Ferovinum platform works by holding ring-fenced assets during production, storage, global distribution and retail fulfilment, which it said gives companies the flexibility to convert maturing stock into capital at any point. The technology integrates with supply chain, logistics and other business functions to deliver greater efficiencies across the business process, it added.
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