The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDistil Share News (DIS)

Share Price Information for Distil (DIS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.55
Bid: 0.50
Ask: 0.60
Change: 0.00 (0.00%)
Spread: 0.10 (20.00%)
Open: 0.55
High: 0.55
Low: 0.55
Prev. Close: 0.55
DIS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Distil investee breaks ground on GBP20 million whisky distillery

Thu, 16th Nov 2023 12:45

(Alliance News) - Distil PLC on Thursday said investee Ardgowan Distillery Co Ltd has broken ground on the first phase of its GBP20 million whisky distillery.

The London-based premium drinks manufacturer has brands including RedLeg Spiced Rum, Blackwoods Gin & Vodka, Trove Botanical Vodka and Blavod Black Vodka.

In August 2021, Distil invested around GBP3 million in Ardgowan via a loan.

It said Muir Construction Ltd will deliver the first build phase, which is expected to last 12 months and will see the completion of the distillery's main production elements.

Distil said this includes core groundworks, steelwork, and distillation equipment, enabling Ardgowan to begin producing its own spirit from 2024.

"The ambitious plans for the new net-zero distillery include cutting-edge technologies and partnerships with new technology developers to deliver a truly carbon-neutral spirit," Distil said.

"The distillery has partnered with Heriot-Watt University and engineers Briggs of Burton to develop technology to capture all the [carbon dioxide] in its fermentation process and transform it into green biomethane - a technique which has never been used in a Scotch whisky distillery before."

Distil said the distillery has plans to use the green biomethane to heat both the whisky and gin stills.

Commissioning of the gin still has been delayed due to the need to change some of the instruments, Distil said, but it said it is working closely with Ardgowan to monitor progress "with the aim of distilling the first Blackwoods at Ardgowan as soon as possible".

"It's been almost seven years in the planning, but now, finally, we have started construction. When embarking on this project, we wanted to take time ensure that we were able to partner with the highest calibre engineers and incorporate the very latest technologies to ensure that we were minimising our impact on the environment," said Ardgowan Chief Executive Officer Martin McAdam.

Shares in Distil were up 18% to 0.50 pence each in London on Thursday afternoon.

By Greg Rosenvinge, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
29 Jan 2015 10:23

CORRECT (January 26): Distil Raises GBP587,800 In Share Placing (ALLISS)

Read more
26 Jan 2015 17:23

Distil Raises GBP900,000 In Placing To Develop Drink Brands (ALLISS)

Read more
21 Jan 2015 12:32

UK MIDDAY BRIEFING: Rate Rise Expectations Are Pushed Back

Read more
21 Jan 2015 11:48

UK WINNERS & LOSERS: Pearson Tops FTSE 100 Gainers On EPS Guidance

Read more
21 Jan 2015 08:13

Distil Shares Jump On US Approval For Blackwoods, Winebow Deal

Read more
10 Nov 2014 12:41

UK MIDDAY BRIEFING: Serco To Take Two More Years To Turn Around

Read more
10 Nov 2014 11:55

UK WINNERS & LOSERS: Serco Battered, Distil Soars On Christmas Hopes

Read more
10 Nov 2014 09:07

Distil Shares Surge 25% On Pre-Christmas Product Promotions, Outlets

Read more
15 Sep 2014 11:42

UK MIDDAY BRIEFING: TUI Travels Higher As Merger Terms Revealed

Read more
15 Sep 2014 11:10

UK WINNERS & LOSERS: Micro Focus Jumps 14% On Reverse Takeover Deal

Read more
15 Sep 2014 08:11

Distil Drops 32% As US Distributor Approval Delay Means Results Miss

Read more
4 Jul 2014 12:05

INTERVIEW: Distil's New Product Delayed, Focus On US Distributor

Read more
3 Jul 2014 09:52

Distil Agrees Terms With Two US Distributors For Its Biggest Brands

Read more
3 Jul 2014 07:33

UK MORNING BRIEFING: Tullow Oil Strikes Oil Offshore Norway

Read more
10 Jun 2014 13:48

Sector movers: SABMiller lifts beverages on M&A rumours

M&A speculation surrounding SABMiller increased the demand for beverages stocks on Tuesday. Shares in the Coors Light, Grolsch and Peroni maker were up 2% at 3,340.5p in afternoon trade after the Financial Times reported on "rumours" regarding a potential takeover. The paper cited analysts at Sant

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.