Ardgowan Distillery Company Ltd has announced a major financial milestone, securing new investment and significantly strengthening its balance sheet as it continues its journey towards the release of its first single malt whisky.
Located on the historic Ardgowan Estate, the distillery became the first new distillery in Inverclyde for more than a century when it began production in June 2025. Since then, Ardgowan has continued to build its spirit stocks, producing both its signature unpeated distillate and, more recently, its first batches of heavily peated spirit, distilled during June and July this year.
£14 Million in Convertible Loan Notes Converted into Equity
One of the key developments announced by the company is the successful conversion of £14 million in Convertible Loan Notes (CLNs) into equity, including £3 million previously held by Distil Plc.
The move significantly strengthens the company’s financial position while demonstrating continued confidence from existing investors in the long-term vision of the project.
Additional £4.2 Million Investment Secured
Alongside the CLN conversion, Ardgowan has successfully secured £4.2 million in new funding.
The fresh capital will support ongoing distillery operations, production expansion, and commercial development as the company progresses toward launching its first official Ardgowan Single Malt.
Simplified Ownership Structure
As part of the financial restructuring, Ardgowan has also revised its shareholder and investment agreements to create a more streamlined and efficient ownership structure.
According to the company, the changes are designed to simplify governance while providing a stronger platform for future growth and investment opportunities.
Focus Remains on Long-Term Quality
Commenting on the announcement, Roland Grain, CEO of Ardgowan Distillery Company Ltd, said:
“This clean up is the result of an enormous collective effort from our investors, our shareholders and our team. The commitments made by so many people to support this distillery in the challenging early stages speak to the belief that exists in what we are building here.”
He added:
“This marks the end of the early phase of the project, and we are now in a far stronger position, with a clearer structure, a strengthened balance sheet, and a defined path forward. We remain focused on what has always driven us: an exceptional wood policy coupled with long-term maturation to recreate the golden era of European oak Sherry cask matured Single Malt.”
Looking Ahead
While the distillery’s own single malt continues to mature, Ardgowan remains active in the market through its award-winning Clydebuilt independent bottling range.
With a strengthened financial foundation, new investment secured, and spirit stocks steadily growing, Ardgowan appears well positioned as it moves closer to delivering its first official single malt release in the years ahead.
