Milestones

Faer Isles Funding
2020
August 1

Sales of Faer Isles Founder's Club memberships begins.

2021
February 19

Launch of share emission campaign for members of Faer Isles Founders' Club (certificate holders).

March 15

Round 1 of share emission/crowdfunding campaign starts for the general public.

July 31

Round 1 share emission/crowdfunding ends.

Autumn

The board of Faer Isles Distillery presented to the new shareholders at our Annual General Meeting a suggestion that shares will be created as security tokens, and that the Faer Isles Token will be launched for trade.

November

At our Annual General Meeting the board was given permission to raise the capital of the company though sales of A-shares to private investors and to do a second round of crowdfunding.

December

Closed sales of A-shares to private investors. Loans secured. Together this means that total CapEx investment needs are covered, and the project is fully funded.

2022
March 2022

Round 2 of share emission/crowdfunding campaign scheduled for Q1 2022. Funding intended to refinance loans and secure growth and expansion.

Construction Plan
2020
September

Purchasing of land for the Faer Isles distillery, warehouses, and visitor center in Kvívík.

2021
March

Initiate refurbishment of interim distillery in Vestmanna with capacity of 500 LPA pr. week of new make whisky and gin.

2022
March

Develop Kvívík site. Preparations for building Phase 1: the warehouses.

February

Initiate refurbishment of visitor center at Vestmanna site, including bar, showroom, offices and restrooms.

June

Warehouse in Kvívík completed for storage of casks for whisky production.

2027
Summer

Preparations for building Phase 2: the distillery in Kvívík

2029
Summer

Distillery building finished. Equipment to be installed and tested.

Autumn

Start of production in new distillery in Kvívík.

2030
Winter

Preparations for building Phase 3: the visitor center.

Autumn

Visitor center finished.

Faer Isles Production
2019
July

Startup of test production in lab facilities in Tórshavn Faroe Islands and in Copenhagen Denmark. Experiments with production of whisky and of gin, using seaweed and other extracts of local botanicals.

2021
August

Setup of 400L gin distillery equipment at interim distillery in Vestmanna.

August

Test production of gin and akvavit.

September

Commercial production of gin and akvavit.

2022
April

Setup of whisky distillery equipment at interim distillery in Vestmanna with capacity of 500 LPA pr. week, producing new make whisky.

May

Test production of whisky starts. New make spirit is put on casks for maturation.

2025
June

First batch of whisky is matured for 3 years.

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