Drop Bear Beer Co. has secured a £1.8 million equity investment to build what it says will be one of the world’s first dedicated alcohol-free breweries.
Based in Swansea, Wales, Drop Bear offers a range of vegan, gluten-free and low-calorie beers, which come in at around 0.5% ABV.
The company – which was founded in 2019 – aims to establish a brewery in South Wales, as it looks to increase production and market share.
The new funding includes a £1.5 million investment by Admiral Group founder Henry Engelhardt and £300,000 from a campaign on equity crowdfunding platform, Crowdcube.
Drop Bear will use the new funds to press ahead with its plans for the alcohol-free brewery, which it claims will be only the second to open in the UK.
The company says that it currently has a site under consideration and plans for the brewery to be fully operational by the end of October.
“To have a businessman of Henry’s experience and reputation on board recognising the incredible work we’re doing with Drop Bear is absolutely fantastic,” said Drop Bear co-founder and operations and finance director, Sarah McNena.
“His investment, along with £300,000 that is coming from our Crowdcube campaign, enables us to increase production capacity further, create more jobs and make even more of an impact on both the national and international stage.”
Drop Bear co-founder and sales and marketing director, Joelle Drummond, added: “In less than two years and with a very humble personal investment, Sarah and I have transformed Drop Bear from just an idea into a multimillion-pound business with an international reputation.
“As the founders of Drop Bear, we’re so excited and motivated to show the world what Drop Bear can do with significant investment and what this brewery will mean for the industry as a whole.”
The Drop Bear range currently consists of four beers: Tropical IPA, Yuzu Pale Ale, Bonfire Stout and New World Lager.
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