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UK's Drop Bear Beer secures $2.47 million investment for alcohol-free brewery
Drop Bear Beer Co. has secured a $2.47 million funding to build one of the world’s first dedicated alcohol-free breweries in South Wales, as it looks to increase production and market share.
The brewery offers a range of vegan, gluten-free, and low-calorie beers currently consisting of Bonfire Stout, Tropical IPA, New World Lager, and Yuzu Pale Ale.
The beers come in at around 0.5 percent alcohol by volume.
The equity investment includes $2.06 million by Admiral Group founder Henry Engelhardt and $412,000 from crowdfunding platform, Crowdcube.
Drop Bear claims its alcohol-free brewery will be only the second to open in the UK.
The company plans to have the brewery fully operational by the end of October.
Sarah McNena, Drop Bear co-founder and operations and finance director, acknowledged that Henry Engelhardt's and Crowdcube's investments would enable them to increase production capacity, create more jobs, and make even more impact nationally and internationally.