The company says: “We aim to out-compete traditional distilleries, reinvigorate the craft spirit movement, and become the world’s largest producer of ‘just in time’ whiskey. The incumbents are stuck with tradition and have massive supply shortages.”
Founder Tom Lix says the crowdfunding effort allows the company to raise capital in much smaller amounts from individual investors without concerns about accreditation.
“Many of my customers who were previously precluded from investing are now eligible and the idea of Cleveland Whiskey customers and fans being part-owners of the company just makes sense,” Lix says.
Lix purchases whiskey from other distilleries and applies his patented rapid-aging method to new make or relatively young whiskey. This technology has put Cleveland Whiskey in the crosshairs of purists who reject all forms of rapid-aging techniques. When President Obama visited the Cleveland Whiskey facility, several whiskey geeks took to social media to express their discontent.
Nonetheless, the crowd funding campaign has already raised more money than Bourbon Hall of Famer Jim Rutledge’s discontinued campaign. Somebody sees Cleveland Whiskey as a whiskey of the future.
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