Rejuvenation of oak wine barrels for extended life for wineries
RenewOak is an Australian company that has developed and patented a novel process for cleaning oak barrels without dismantling the barrel or via the use of chemicals. The technology effectively doubles the useful life of oak barrels, providing economic and sustainability benefits to wine and spirit producers. The process was launched into the Australian wine and spirit industry in 2021 and already has more than 50 winery customers. The business is now looking towards expansion in the local market and internationally.
RenewOak seeks $1-1.5m equity or debt financing to enable accelerated expansion into the local and international markets
Project status update-
Proprietary technology for the cleaning of oak wine barrels. The technology has been developed over the last 3 years and is functionally and commercially validated. Opportunities to further automate the process and adapt to specific needs of international markets.
Investment sought: A$1M - A$1.5M
- Launch of the barrel cleaning service into the SA market in Q1 2021 after 2 years of technical development
- Successful wine trials in rejuvenated barrels across a range of high profile wineries across 2020 and 2021. Establish relationship with a major Victorian distillery in 2021.
- Commenced license discussions with large wine service company in Napa Valley
- Barrel Rejuvenation Services Pty Ltd
Expected start date
February 01, 2022
Expected end date
March 31, 2022
Funding round finish date
April 30, 2022