Faroe Islands distillery looking for investors

A new craft distillery on the remote Faroe Islands is on the hunt for investors.

The Faer Isles Distillery, based in the North Atlantic archipelago, will be one of the most northerly whisky and gin distilleries in the world. The production site, warehouses and a visitor centre will be housed on a 24,000 sqm site near the village of Kvívík.

It plans to use a traditional design for food drying houses (or 'opnahjallur') for the warehouses in which its whisky will be matured, and hopes the humid, windy climate and coastal setting will aid its whisky maturation.

It will also be making the most of its locality in its gin, using a host of local botanicals including seaweed.

A local crowdfunding campaign for the distillery started in March and has already attracted more than 500 shareholders in 25 countries and €600,000 in investment. 

Behind the project are local whisky enthusiasts and business figures, including Heini Zachariassen, founder and CEO of online wine retailer Vivino.

Equipment for the gin distillery has been commissioned from Germany's Müller Brennereianlagen, while whisky distilling equipment has been commissioned from Scottish manufacturer LH Stainless.

In what could be a first for the whisky industry, Faer Isles Distillery is allowing shares to be paid for with cryptocurrencies such as Bitcoin, while it is also planning to utilise blockchain technology for its investors.

19 April 2021 - Bethany Whymark