Ardgowan is all set to begin construction works for its new distillery on the Ardgowan Estate near Inverkip, after securing an equity investment of $11.8m (£8.4m).

The distillery will be developed at a site located 30 miles west of Glasgow and will have the capacity to produce one million litre single malt whisky and also feature a visitor centre.

Austrian investor Roland Grain made $10.1m (£7.2m) investment, while the remaining investment was secured from the new and existing shareholders.

Grain is the founder, owner and CEO of IT company Grain, which operates in 17 countries across the globe.

He has been investing in the spirits industry, and recently acquired 20% stake in the UK spirits business Distil.

Grain said: “My passion for whisky began as a teenager in Austria when I began to collect Scotch whisky and today I am thrilled to become the major shareholder in the Ardgowan Distillery.

“My wish is for this project to create a lasting connection to the community and produce the highest possible quality whisky and over time achieve the lowest possible CO2 footprint. The company founders Martin McAdam, Alan Baker and I have a shared vision of what we can achieve.

“Already they have built a strong team around them – not least their chairman Willie Phillips and their whisky maker Max McFarlane – and together we will craft the finest quality single malt whisky based on the extraordinary location of the Ardgowan Estate and the unusual microclimate of the Inverkip area.”

Additionally, the distillery has been in discussions with a loan provider for an additional debt to fund the flagship project in the coming weeks.