Independent brewing company Good Drinks (ASX:GDA) has been awarded $750,000 in Western Australia State Government funding to aid in improving the company’s operational efficiencies.
The company says funds will be used to fund civil works and site upgrades, including the installation of a new fermentation tank and groundworks that will allow for the addition of 7 additional tanks in the future.
Good Drinks reports this upgrade represents part of its existing continuous improvement program, maintaining its low-cost manufacturing advantage and improving its production efficiencies.
“The grant helps fund the upgrade in our production capacity, with the expansion delivering additional scale and production advantages to the business”
Speaking on the government funding, Good Drinks Managing Director John Hoedemaker said: “We welcome the WA State Government’s support and show of confidence in our business. The grant helps fund the upgrade in our production capacity, with the expansion delivering additional scale and production advantages to the business, preparing us for demand increases in the future.”
Also commenting on the funding, WA State Government Agriculture and Food Minister Jackie Jarvis said: “This valuable grants program is supporting businesses to pursue goals and aspirations with confidence, creating jobs and flow-on benefits throughout the supply chain, and helping to diversify the WA economy.”
The current round of the Western Australian government’s Value Add Investment Grants have been awarded to ten dynamic local agrifood and beverage processing businesses. With $6.3 million dollars granted, Good Drinks Australia received the highest tier of funding.
With funding now received, Good Drinks announces work on the brewery upgrades will begin immediately and is scheduled for completion in late 2024.