Copperworks Distilling Co.

Award-Winning Craft Distillery on the Seattle Waterfront

Copperworks Distilling Co.

Award-Winning Craft Distillery on the Seattle Waterfront

Seattle , WA
Food & Beverage
Copperworks is a craft distillery, tasting room, and retail store in the high-traffic waterfront tourist district of downtown Seattle. As demand for our highly acclaimed, award-winning spirits rises, we plan to expand with a new tasting room, a new downtown visitor center location, and a new production facility.

$1,237,823

raised
$776,981
previously crowdfunded
601
Investors
$11.7M
Valuation
$0.53
Price per Share
$249.10
Min. Investment
Common
Shares Offered
Equity
Offering Type
$5M
Offering Max
Reg CF
Offering

$1,237,823

raised
$776,981
previously crowdfunded
601
Investors
$11.7M
Valuation
$0.53
Price per Share
$249.10
Min. Investment
Common
Shares Offered
Equity
Offering Type
$5M
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into Copperworks Distilling Co.:

$250+
Investment
$250+
Invitation to quarterly phone call and annual meeting.
$2,200+
Investment
$2,200+
Lifetime 10% discount on all purchases from Copperworks, not including taxes and shipping fees + Each item from the previous perk tier.
$5,000+
Investment
$5,000
Lifetime of tastings for you and up to 3 guests of our core line of spirits in our tasting room + Each item from previous perk tiers.
$10,000+
Investment
$10,000+
One week early access to all special releases. Invitation to join our team for a single taste panel session (virtually or in-person) + Each item from previous perk tiers.
$25,000+
Investment
$25,000+
Spend a day with our distillers, including lunch (or dinner) with one of the leadership team + Each item from previous perk tiers.
$50,000+
Investment
$50,000+
Help select a single cask of whiskey to be bottled and sold to the public + Each item from previous perk tiers.
$100,000+
Investment
$100,000
Receive an invitation to join our board of advisors + Each item from previous perk tiers.

Reasons to Invest

  • Copperworks has achieved more than seven years of successful operation with increased revenue and production each year. 
  • Copperworks’ high-quality craft spirits have been recognized with multiple national and international awards and the company was named the 2018 Distillery of the Year by the American Distilling Institute.
  • The Copperworks team has significant professional experience and demonstrated results in building beverage production plants and offering outstanding customer experiences. We’re well-equipped to successfully execute our multi-pronged expansion plan.
  • Copperworks’ plan to expand into two multi-purpose locations will enable the company to increase production to 10 times our current level and fulfill the market demand we’ve created for our spirits.
  • The expansion plan will also enable Copperworks to increase customer traffic by 8 times and generate new revenue streams from profitable customer experience offerings such as tasting rooms, cocktail bars, restaurants, tours, events, and event space rentals. 


Overview


Lucrative Opportunities in a Growing Market


Copperworks was founded by craft brewers with more than 30 years of experience in the alcohol industry. We built our distillery to answer the question: how would spirits taste if they were distilled from superior craft beer (without hops) instead of the typical methods and ingredients of conventional distilleries? The answer led Copperworks to become a pioneer in producing American Single Malt Whiskey, a fast-growing spirits category with substantial national and international market opportunity.


To capitalize on the growing demand for our highly acclaimed, award-winning spirits, we envision three high-potential expansion projects: 


  1. A new facility in a fast-growing community in north Seattle which will include a tasting room, restaurant, and barrel warehouse.
  2. A new downtown Seattle restaurant, cocktail bar, and event space located next door to Copperworks’ current waterfront distillery location. 
  3. A new brewing, fermentation, barreling, and bottling facility in north Seattle enabling 10 times annual growth in whiskey production.

The Problem


Currently Lack the Capacity to Meet Our Growing Demand and Opportunities

  • Insufficient space for customer engagement and revenue opportunities: Our customers want craft cocktails and food offerings, but the physical space is insufficient to provide either in our current facility. 
  • Insufficient space for private events: We must turn away lucrative, high-margin rental contracts for private events due to lack of space in our current facility. 
  • Market demand outpaces Copperworks’ whiskey manufacturing capacity: Copperworks is unable to produce sufficient whiskey in our current facility to fulfill the exponential growth we’re experiencing in market demand. We frequently must turn down domestic and export market opportunities due to insufficient inventory. 


The Market


Massive, Growing Opportunity in Craft Spirits

The U.S. craft spirits market has grown rapidly since 2010, with an estimated value predicted to hit $25 billion by 2023


Meanwhile, the American whiskey market specifically is expected to grow at a CAGR of 9.9% from 2019 to reach $16.8 billion by 2025.


The rapid-fire growth of the crafts spirits market coupled with the substantial and consistent growth of the American whiskey market offers great opportunities for the future of American Single Malt Whiskey. Copperworks is well-positioned to capitalize on two growth market categories that, together, create a huge untapped market opportunity.


“American single malt whiskey is one of the most exciting sectors of the entire whiskey-sphere at the moment. The movement is being spearheaded by small craft distilleries around the country, with a desire to make something that isn’t just more bourbon.”  — UPROXX, Sept. 2020



Leaders in the Field

Copperworks was honored to be named 2018 Distillery of the Year by the American Distilling Institute. In addition, Copperworks whiskey and gin have won Double-Gold medals and scored 94 – 96 points in prestigious spirits competitions. 


As a founder of the American Single Malt Whiskey Commission and an early innovator in the American Single Malt Whiskey category, Copperworks is an established leader and well-respected brand in this rapidly growing spirits category. 


Copperworks leadership team holds (and has previously held) prominent positions of leadership in the U.S. craft spirits industry. Copperworks President, Jason Parker, serves as an officer of the American Single Malt Whiskey Commission and as a board member for the Craft Maltsters Guild. Jason was also Board Chair for the Washington Distiller’s Guild. Copperworks Vice President, Jeff Kanof, serves as Treasurer and Secretary of the American Craft Spirits Association.



Local Opportunities

The Seattle waterfront, where Copperworks Distilling is located, is undergoing a $728M redevelopment that will dramatically increase public access and visitor foot traffic. “In 2017, waterfront-traffic guest counts were estimated at 6.9 million by the Historic Waterfront Association. Projected growth is between 14 million and 21 million guests by the time Overlook Park and the Aquarium expansion open”, says Heidi Mills in Seattle Business.


This redevelopment, coupled with the popularity of the craft spirits industry, offers tremendous business opportunity for an established waterfront distillery to expand its customer-facing space. 


Kenmore, the community in north Seattle slated for the new Copperworks facility, is a popular stop on a high-traffic recreational route (the Burke-Gilman Trail) that runs through the area. Kenmore is growing quickly and is developing a “Brewery District” where Copperworks will be prominently located.


The Solution


Multi-Pronged Expansion to Meet Growing Demand

Our solution to increase production and customer experience opportunities includes three phases: 

Phase I: New Restaurant, Cocktail Bar, Event Center, and Barrel Storage in North Seattle

Copperworks will open a new restaurant, cocktail bar, barrel storage warehouse, and event center in Kenmore (north Seattle). This space will offer abundant options for customer engagement in indoor and outdoor seating. Visitor capacity for this initial phase in Kenmore will be up to 600 guests per day.



*Images are computer-generated demo versions. Expansion is still currently under development.


The location is directly on the Burke-Gilman Trail, a heavily used recreational and commuter trail that travels through the Seattle area. This popular trail offers an immediate, greatly enlarged prospective customer pool beyond our current footprint. “Even on weekdays, more than 2,000 people use the Burke-Gilman every day—at least a third to get to and from work, making the corridor one of the busiest commuter trails in the country, and certainly one of the most diverse.” ( Rails to Trails Conservancy blog)


Phase II: Copperworks Downtown Restaurant and Event Facility 

Copperworks will expand our downtown Seattle location into a space next door to our current production facility and tasting room.



The Seattle waterfront is expected to see more than 20 million visitors per year once the current construction projects are completed. This new Copperworks space adds 7,000 square feet of bar, restaurant, event, and educational space next door to our current facility to capitalize on the increased tourism traffic and event space rental opportunities. This will expand our downtown daily visitor capacity from 150 guests to 575 guests.



Phase III: New Production Facility in Kenmore 

Copperworks will build a new production facility to significantly grow our manufacturing capacity. We believe this will allow us to increase our whiskey production by ten times from 120 to 1,200 barrels per year.



This growth phase in Kenmore will also enable Copperworks to expand the services and amenities we offer to customers, such as cocktails, local beer and wine, food offerings, multiple tour options, events, and more.

Why Invest


A Successful, Established Operation with a Competitive Edge

The Copperworks team has significant experience building production plants and providing outstanding customer experiences. The company and its spirits have been recognized with multiple U.S. and international honors, including Distillery of the Year. 




Copperworks’ proposed three-phase plan will enable the company to grow into a major regional craft spirits producer with targeted national and international distribution and an attraction that offers world-class customer experiences in the downtown and greater Seattle area.

Copperworks' brand, team, and product quality are in an ideal position to exploit the rapidly expanding sales opportunities for American Single Malt Whiskey. Our expanded customer capacity and service offerings will enable the company to become one of the primary providers of spirits enjoyment and education in the Pacific Northwest. The market opportunities exist now, and Copperworks needs to expand now to take advantage of these and future growth opportunities. 

 


We invite you to join the exciting opportunity to bring Copperworks’ innovative, award-winning craft spirits and entertaining activities to as many customers as possible in the Pacific Northwest, U.S., and beyond. 


    THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY.  THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS.  INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.



In the Press

The Seattle Times

Seattle whiskey company named best craft distillery in America

Liquor.com

The Best High-Roller American Whiskey

Uproxx

The Best American Single Malt Whiskeys To Try This Fall

Bloomberg

What Tariffs? American-Made Whiskeys for Single Malt Scotch Fans

Men's Health

The 5 Best American Single Malt Whiskeys to Drink Right Now

Beverage Master

The Rise of American Single Malt Whiskey

Bon Appétit

8 Regional Spirits We’re Taking Home as Souvenirs

The Whiskey Wash

Washington Distillery Releases A Very Terroir Focused Whiskey

Seattle Magazine

Seattle Distillers Make a Spirited Case for Barrel-Aged Gin

Fortune

Restaurants Are Leveling Up by Creating Their Own Signature Craft Spirits

Whisky Advocate

The Seattle Craft Whiskey Trail

Sunset

These 14 Distilleries Are Reinventing the Small-Batch Spirits Movement in the West

Offering Summary


Company

:

Big Derby Distilling Company

Corporate Address

:

1250 Alaskan Way , Seattle , WA 98101

Offering Minimum

:

$9,999.51

Offering Maximum

:

$4,999,999.86

Minimum Investment Amount

(per investor)

:

$249.63











Terms


Offering Type

:

Equity

Security Name

:

Non-Voting Common Stock

Minimum Number of Shares Offered

:

18,867

Maximum Number of Shares Offered

:

9,433,962

Price per Share

:

$0.53

Pre-Money Valuation

:

$11,723,916.41











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Company Perks*

Time-Based Bonuses

First Week:

15% Bonus Shares

Second Week

10% Bonus Shares

Next Two Weeks

5% Bonus

Incentive-Based Perks

$250 

Invitation to quarterly phone call and annual meeting.  

$2,200 

Lifetime 10% discount on all purchases from Copperworks, not including taxes and shipping fees + Each item from the previous perk tier.

$5,000 

Lifetime of tastings for you and up to 3 guests of our core line of spirits in our tasting room + Each item from previous perk tiers.

$10,000 

One week early access to all special releases. Invitation to join our team for a single taste panel session (virtually or in-person) + Each item from previous perk tiers.

$25,000 

Spend a day with our distillers, including lunch (or dinner) with one of the leadership team + Each item from previous perk tiers.

$50,000 

Help select a single cask of whiskey to be bottled and sold to the public + Each item from previous perk tiers.

$100,000 

Receive an invitation to join our board of advisors + Each item from previous perk tiers.

*All perks occur when the offering is completed.

The Company will not incur any irregular use of proceeds.


Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$2,653,129.00 USD
$2,398,033.00 USD
Cash And Cash Equivalents
$7,525.00 USD
$40,581.00 USD
Accounts Receivable
$22,246.00 USD
$29,477.00 USD
Short Term Debt
$169,268.00 USD
$295,088.00 USD
Long Term Debt
$1,703,806.00 USD
$1,680,171.00 USD
Revenues And Sales
$1,026,360.00 USD
$895,182.00 USD
Costs Of Goods Sold
$691,142.00 USD
$434,965.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$361,425.00 USD
$3,474.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Notice of Funds Disbursement

2 days ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Copperworks Distilling Co. has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Copperworks Distilling Co. be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

New Whiskey: Release 039 - Salmon-Safe Single Varietal Malt

3 days ago

Our latest small batch whiskey is here! Copperworks American Single Malt Whiskey Release 039 is now on the shelves at the distillery and in the online store.

Release 039 was crafted from eight casks of whiskey distilled using the Genie varietal of barley. This particular barley was made possible by our partners at Mainstem Malt, who are dedicated to supplying top-notch malted barley to distillers and brewers in Washington State. It was grown by H.T. Rea Farming (Walla Walla, WA) and malted by LINC Malt (Spokane, WA). The whiskey was matured in charred new American Oak for 36 months.

Salmon-Safe Grains 
This release is the first whiskey ever to be bottled fromSalmon-Safe grains. Salmon-Safe certification represents ecologically sustainable agricultural practices that protect water quality and wildlife habitat. This is also the first time we’ve exclusively used a single variety malt in a core Copperworks Whiskey release. We currently source about 90% of our barley from small, Washington farms, so you’ll have many future opportunities to thank a local farmer for your whiskey.

We do have a limited supply of Release 038 still in stock. Grab a bottle before it sells out for your own side-by-side tasting! 

Tasting Notes
Release 039 offers aromas of rich, stewed fruit, ripe pear, red wine, and pipe tobacco. Flavor notes of candied citrus peel, melon rind, smoked tea, and cedar lead to a long finish of mango, cinnamon, and walnuts, ending with a slightly briny note.

Copperworks American Single Malt Whiskey, Release 039
2,103 bottles produced
750ml, 50% ABV
Buy now in our online store


Copperworks Featured on Scotch Malt Whisky Society's Unfiltered Magazine

8 days ago

Copperworks' President and Co-Founder, Jason Parker, was recently featured in the Scotch Malt Whisky Society's Unfiltered magazine. Given his long history as a craft brewer, you can imagine he had a lot to say about the topic of the relationship between beer and whiskey. 

Read the full article here.


Last Call for Early Bird Bonus

15 days ago

Thanks to all of the investors so far we are about to cross the $1,000,000 mark! If you haven't invested yet, this is your LAST chance to receive the early bird 5% bonus shares when you invest in Copperworks Distilling. The early bird bonus ends at Noon Pacific time tomorrow (Friday October 1). And remember to help spread the word by sharing the link with your family and friends (https://www.startengine.com/copperworks-distilling).

Copperworks Washington Peated Wins ACSA Award

18 days ago

We're proud to announce that Copperworks Washington Peated Whiskey (R034) recently medaled at the American Craft Spirits Association's annual judging competition. This was our first release of peated single malt. It was crafted from eight casks of whiskey that were brewed and distilled from 100% of the Copeland variety of barley grown in Washington State’s Skagit Valley and smoked during the malting process with Washington peat. 

Using Washington-sourced peat gives this award winning release flavors of roasted almonds, toast, hickory, and a slightly briny earthiness — different than the notes of iodine, creosote, and seaweed that are often found in Scottish peated single malt. 


Notice of Funds Disbursement

21 days ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Copperworks Distilling Co. has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Copperworks Distilling Co. be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Copperworks on "One Nation Under Whiskey" Podcast

22 days ago

Our own Jason Parker and Jeff Kanof had a great conversation with the gents over at Single Cask Nation on their "One Nation Under Whisky" podcast! We chatted with them about what's happening at Copperworks and share news on the status of the legal designation for American Single Malt Whiskey. 

Follow the links below to hear it through your preferred podcast source:

Apple Podcasts: https://apple.co/3ELTIwo
Spotify: https://spoti.fi/3ACCRtu
Stitcher: https://bit.ly/39vzEjK
Our website: https://bit.ly/3f5mdtO

Cheers,

The Copperworks Team



Production Expansion Details

24 days ago

Thank you to all of the investors who have helped us cross the $800k mark in just a few weeks! We’ve received a handful of questions asking us if we have more details about the production expansion. In other words, how will Copperworks produce 10 times the amount of whiskey after the expansion? Below you’ll see a slide that illustrates the changes to our current production output that can be achieved when our proposed brewery in Kenmore is up and running. 

We hope this helps illustrate how we will increase production of whiskey by 10 times with a new brewery and our current distillation equipment. 


Invest Now for Bonus Shares

Remember to invest in Copperworks today to receive 5% bonus shares. This is our LAST time-locked bonus and it ends soon. 


Cheers,

The Copperworks Team

10% Bonus Ends Soon!

29 days ago

We are proud to announce we have raised over $650k in less than 2 weeks of our StartEngine campaign. Thank you to the 239 investors who have joined us so far.

If you haven't invested yet, now's your chance to be a part of our journey to expand into two multi-purpose locations, enabling us to increase our production by 10 times and customer experience opportunities by 8 times.

Invest before noon PT tomorrow (September 17) to receive 10% bonus shares.

And remember to tell your friends and family about this opportunity to join Copperworks as an investor!


Cheers,

The Copperworks Team 



New Release: Copperworks Plum Gin

about 1 month ago


New Release: Copperworks Plum Gin
Plums are in season and so is Copperworks Plum Gin! This customer favorite, which we previously called "Copperworks Plum Cask Finished Gin," was once an extremely limited offering. But it has now secured a spot in our standard lineup. Copperworks Plum Gin Release No. 001 is available for purchase at the distillery and in the online store.

This year's release was produced by finishing Copperworks Small Batch Gin in five charred, new American Oak casks for about 100 days. We then transferred the gin to stainless steel tanks to rest on pitted Italian Prune Plums from two local family farms: Warm Valley Orchard and Lazy River Farm.

A Farm Collaboration
For the past few years, we received a batch of Italian Prune Plums from Warm Valley Orchard on Orcas Island, WA, owned and worked by Bob and Maria Nutt. Bob is a brother of Micah Nutt, one of the founders of Copperworks. We filled various kinds of barrels with the plums and Copperworks Small Batch Gin and when the taste was to our liking, we would release Copperworks Plum Cask Finished Gin, part of what we call our “Experimental Gin Series.”

The gin was so popular that we decided it should become a part of the Copperworks standard line-up of spirits and we intend to offer a new release each year. Though it is still very much a handmade agricultural product, so volumes will continue to be somewhat limited.

Nearly a Pound of Plums in Every Bottle 
We used 1,260 pounds of local fruit from Warm Valley Orchard and Lazy River Farm to create more than 255 gallons of spirits. The yield was 1,397 bottles which translates to almost a pound of plums used to create each bottle.

Tasting Notes
Mulled wine, candied fruit, and baking spice aromas explode from the glass. The flavor is equally bold, with stewed fruit, red wine, and big, fresh plum juice notes followed by tannins and dark cherries.

Copperworks Plum Gin, Release 001
1,397 bottles produced
750ml, 40% ABV
$59.89 (not including tax or shipping)
Available now in the Copperworks tasting room and online store.

Welcome Investors & Copperworks Wins Gold from Beverage Testing Institute

about 1 month ago

First, we'd like to say a huge thank you to everyone that has become an investor so far (both in this campaign and our prior round). Welcome aboard as Copperworks shareholders! Because of your belief in our brand and team, we've gotten off to an amazing start to funding these projects.

 

We'll use this update space to provide updates about the progress of the projects, info about Copperworks, and industry news and trends that are relevant to our future. 

 

With that said, here is an exciting first update:

 

We're thrilled that Copperworks American Single Malt Whiskey Release 038 is the recent recipient of a gold medal (94 points) from the well-respected Beverage Testing Institute (BTI). Release 038 builds on the flavor of our last major release with new complexity from the addition of whiskey matured in a sherry cask. 

 

Release 038 Tasting Notes: Aromas of rum raisin ice cream and pear balsamic give way to flavors of fig conserves and baked pears, finishing with notes of hazelnut, fruit leather, and dark cherry candy. 


Find it now in our tasting room and online store.   

 

You can read the entire review from BTI by clicking here.


Copperworks American Single Malt Whiskey R038


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