Latest news with #EIIS
Irish Examiner
28-05-2025
- Business
- Irish Examiner
LYQD Cask Exchange: A platform geared to support the rise in Irish whiskey
Whiskey has become a big business in recent years, and James Jardella intends making it more accessible and transparent for investors. Along with his partner Ernest Cantillon, their LYQD Cask Exchange platform is designed to open up an industry steeped in tradition, created to capitalise on the boom in Irish whiskey over recent years and the dozens of new distilleries now operating across the country. 'As it stands today, there isn't a single centralised exchange for cask whiskey anywhere in the world,' Chief Executive Jardella explains. 'This restricts liquidity, limits the flow of capital into the industry and reduces the potential returns for cask owners through a lack of pricing transparency. Our aim is to change that,' he says. The startup has already raised €1.2m in seed capital to secure its launch later this year, leaving €250,000 still available to investors in the current funding round. This is a limited-time opportunity to invest in LYQD at the maximum 50% Employment Incentive Investment Scheme (EIIS) tax relief rate in Ireland. KPMG found that whiskey is the most popular form of luxury asset, ahead of art, jewellery and wine. Backed by Enterprise Ireland's High-Potential Start-Up (HPSU) programme after an exhaustive investigative process, LYQD Cask Exchange will operate as a secure and transparent platform for trading Irish whiskey casks and bulk. 'The initial response from investors has been extremely supportive and I'm really impressed by the eco-system in Ireland that surrounds new businesses,' Jardella said. 'Irish whiskey has seen strong growth over the past decade, but the traditional cask and bulk whiskey market remains fragmented and complex. This funding milestone will enable us to bring a much-needed solution to the market.' Investing in an asset primed for growth cask Whiskey is a valued asset, with an estimated 44 million casks worth €79 billion currently stored for ageing worldwide. Historically cask whiskey has been shown to appreciate in value at 12% to 18% per year with the potential for inflation beating returns making it an increasingly popular alternative asset. 'Cask whiskey, unlike other assets, typically appreciates over time rather than depreciates the longer the whiskey spends in a cask, the rarer it becomes and it's flavour profile is enhanced,' Jardella explains. 'The LYQD Cask Exchange marries an age-old asset with modern technology to improve outcomes for people who are trading whiskey, be they distilleries, wholesalers or individual cask owners and investors.' KPMG recently surveyed hundreds of high-net-worth individuals and investment advisers to discern attitudes and knowledge of whiskey as an investment class. It found that whiskey is the most popular form of luxury asset, ahead of art, jewellery and wine with 27% of respondents indicating that they are planning to invest in whiskey within the next 3 years. Historically cask whiskey has been shown to appreciate in value at 12% to 18% per year. The volume of global sales of Irish whiskey increased by 100% from 2014 to 2024, making it the fastest growing spirits category in the world. This growth is driven by a confluence of trends, including young adult drinking habits, the growth of the middle class in developing countries, and renewed investment in Irish production. An appreciating asset guided by trust & transparency The funding of the LYQD Cask Exchange comes from a variety of mainly Irish sources, including private investors, Enterprise Ireland and a prominent family investment office. The imminent launch of the platform is significant given the potential reintroduction of US tariffs on European alcohol, with Irish distilleries facing renewed uncertainty around exports exploring new ways to reach consumers and maintain production levels. 'For investors, this could present attractive opportunities to enter the whiskey market at favourable valuations.' At the same time, a recent BBC Disclosure programme into the mis-selling of Scotch whisky casks has put a spotlight on the need for greater transparency in alternative asset trading. While similar issues have not been reported in the Irish market, LYQD's platform will allow only authenticated casks be listed thus ensuring safer and more reliable transactions. 'LYQD will make transactions smoother, safer, and more accessible for all stakeholders.' The platform has been further bolstered by the arrival to the team of investor and advisor Tim Murphy, former MD of BNY and CFO of Waystone. In addition, Ronan McDonnell, experienced CTO leads the area of technology innovation to LYQD. All of which boosts the firm's credentials for investors. Trust is a key driver underpinning the LYQD Cask Exchange. The ability to trade safely requires verification to ensure all people on the platform have gone through the necessary checks and balances. 'Trust as a business is earned through transparency by showing origin, pricing, and ownership history. That is how we plan to build trust and through good user experience over time.' Artificial Intelligence will also play a role in the platform navigating data to help investors learn about whiskey and understand the price position of an asset at any given moment. 'AI should be able to help with decision making, not replace it,' Jardella explains. 'We're already on our AI journey but it will need to be able to deliver value for people before it becomes a core functionality.' As LYQD Cask Exchange embarks on its mission to democratise the whiskey market, James Jardella remains focused on bringing investors the opportunity for growth in an asset whose value increases with age. 'Whiskey is valued for rarity and taste - a tangible asset for people to invest in. People like investments they can relate to, and whiskey is ripe for that.'
Irish Examiner
23-05-2025
- Business
- Irish Examiner
Black Emerald: Bringing Irish Whiskey to a new generation
Simon Zebo always had an unerring eye for a spectacular score. Back in his high-flying rugby career with Munster and Ireland, his split-second timing and quicksilver speed ensured his iconic status as a legend of the game. Having finally hung up his boots in 2024, the ever-enthusiastic Simon has quickly found a new field of dreams for his talents as the face of Black Emerald Whiskey on its journey to conquer the world. Initially targeting the fastest-growing international Irish whiskey markets of Nigeria and South Africa, Black Emerald is bringing Simon back to many of the same territories he visited as a player. 'This is an amazing time for me to be involved with Black Emerald and going back to places like South Africa, where I have such great memories of my rugby days. It feels very right to be going full circle, and this time as part of the team behind such a tremendous Irish product. It's partly a trip down memory lane from my playing career, and also opening a new chapter in helping to bring a new story of Irish whiskey to the world.' The connection between Black Emerald and rugby will also be enhanced in 2025 with plans to launch in Australia during the upcoming Lions tour, as well as making its debut in Chicago this November when Ireland play the All Blacks at Soldier Field the stadium where history was made when the boys in green beat the Kiwis for the first time in 2016. As Simon looks to his new career horizon, the connection to his beloved rugby will never be far away especially with the addition of an old comrade in arms now added to the Black Emerald board. Simon's former Munster and Ireland rugby player, Denis Hurley, is now a member of the whiskey team, joining as Commercial Director. He brings extended experience in the spirits industry already, in particular with West Cork Distillery. 'To have somebody like Denis as part of Black Emerald is just magic. He is a guy I have so many great sporting memories with. We have played together going back to my Cork Con days. He was always fully committed in every game that he played with Munster and Ireland and will no doubt bring that same dedication to this enterprise. Denis has such an extensive knowledge of the industry into the bargain, it really adds to the enjoyment and buzz off being on this business journey we are together on.' Simon Zebo, Ernest Cantillon, and Finian Sedgwick, founders of Black Emerald are inviting investors to join them. Picture: Taylor Siggins O'Brien An opportunity to invest in future growth Black Emerald Irish Whiskey is currently raising funds through the Employment Investment Incentive Scheme (EIIS) offering investors a unique opportunity to be a part of the future of Irish Whiskey and to benefit from 50% tax relief on their investment. 'It really is a great opportunity for investors, and Black Emerald has been developed over the past number of years with exactly that in mind. We have had great support already on the investment side, and this current investment round is a chance to be part of the EIIS scheme looks to be similarly well supported.' The coming months will see Black Emerald launch on the world stage with close connections to a number of major rugby games. 'The next six months will be huge for Black Emerald, and are a real incentive for EIIS investors to join us on this journey.' Irish whiskey has experienced extraordinary growth over the past two decades, transitioning to becoming one of the fastest-growing spirit categories globally. Between 2000 and 2023, the number of operational distilleries in Ireland increased tenfold from just four to over 40. Spirit production in Ireland is projected to grow significantly, with an expected increase of 35% by 2028. 'South Africa is the fifth biggest market for Irish whiskey, and Nigeria just went into the top ten last year. These countries are no longer fringe markets, they are now places whose consumers know what they want. Nigeria is the fastest growing market for Irish whiskey, bar none, and joins South Africa in showing tremendous opportunity for a product like ours.' Nigeria will be one of the most populous countries in the world by 2050, and with an emerging middle class. The stars have aligned for Black Emerald and rugby in 2025 Simon notes that Black Emerald is the result of careful planning and expertise at all points of its development particularly for the growing new generation of Irish whiskey drinkers. 'Black Emerald an exciting new Irish Whiskey for a modern generation and getting that message out there will be helped hugely in how well our launches go over the coming months. It is very much like the stars have aligned with our launch in Australia during the upcoming Lions tour - and will be my first time going there since I played on the last Lions tour to Australia.' Simon Zebo has always brought the full weight of his ambition and dedication to every enterprise. Picture: Dan Linehan A similar launch is planned for South Africa in September - another nation with strong rugby connections to Ireland. Capping off what promises to be a hugely successful 2025 will be the November launch in Chicago, coinciding with the Ireland v All Blacks game. 'That match will really attract all the eyes of the rugby world given the incredible memories of 2016 when we beat the All Blacks for the first time. The buzz around that game is already huge, and having the Black Emerald launch be part of all that excitement is a master stroke.' Simon Zebo has always brought the full weight of his ambition and dedication to every enterprise he's been involved with from Munster and Ireland on the sporting field, and now as a key part of the Black Emerald team. 'Being part of Black Emerald feels to me like moving from one hugely motivated rugby team to another dynamic business team that is just as dedicated to success. I'm really enjoying my role in Black Emerald and feel very much at home in this new phase of my career.' For more information visit Black Emerald.
TimesLIVE
24-04-2025
- Automotive
- TimesLIVE
Tesla exec cancels Rome conference trip over security concerns
A Tesla senior executive has cancelled her attendance at a conference in Rome over fears of protests surrounding the carmaker in response to CEO Elon Musk's right-wing activism. Tesla cars, infrastructure and offices have recently become targets of vandalism in several countries, including Italy. The group's sales have nosedived, with its share price, which has lost more than 30% this year. Samantha Harris, Tesla's global sustainability lead, had been due to speak at Regenerative Futures, a conference planned in Rome for May 16-17 by the European Institute of Innovation for Sustainability (EIIS). 'Given the recent protests and violence against Tesla, and now in Rome, I've been asked to hold my external presence and travel. I won't be able to attend,' she said in an email to the EIIS seen by Reuters. A fire at a Tesla dealership in Rome last month destroyed 17 cars in what tech billionaire Musk described as an act of 'terrorism'. Drone images of the fire showed the burnt out remains of cars lined up in a parking lot, with two rows of vehicles back-to-back and a third row some distance away. Musk, a close ally of President Donald Trump, has been working to eliminate wasteful US public spending through the department of government efficiency (Doge). However, he said on Tuesday he would cut back the time he devotes to Doge to spend more time running his many companies.
Time of India
23-04-2025
- Automotive
- Time of India
'Given the recent ...', reads Tesla senior exec's email to organisers of a high-profile sustainability conference as she cancels Italy visit
Representative Image Tesla's Global Sustainability Lead, Samantha Harris , has reportedly canceled her appearance at a high-profile sustainability conference in Rome, citing escalating protests and vandalism targeting the electric carmaker. The unrest, linked to CEO Elon Musk 's vocal right-wing activism, has intensified in recent months, with Tesla facing backlash across Europe and beyond. Harris was scheduled to speak at Regenerative Futures, a conference hosted by the European Institute of Innovation for Sustainability (EIIS) on May 16-17. In an email to EIIS, obtained by Reuters, Harris wrote, 'Given the recent protests and violence against Tesla, including incidents in Rome, I've been advised to limit my external presence and travel. Regrettably, I won't be able to attend.' The decision follows a wave of attacks on Tesla's infrastructure, including a devastating fire at a Rome dealership last month that destroyed 17 vehicles. Drone footage revealed charred remains of cars in a parking lot, with two rows of vehicles gutted and a third partially damaged. Musk, a polarizing figure and close ally of U.S. President Donald Trump, labeled the incident an act of 'terrorism' on social media. Tesla troubles go beyond protests by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Here's The Estimated Cost of a 1-day Gutter Guards Installation HomeBuddy Undo Tesla's troubles extend beyond vandalism. The company's sales have plummeted, and its share price has cratered, losing over 30% of its value in 2025 alone. Protests in Italy, Germany, and Sweden have targeted Tesla showrooms, charging stations, and offices, with activists citing Musk's political activities, including his role in the controversial Department of Government Efficiency (DOGE). The initiative, aimed at slashing U.S. public spending, has drawn criticism for its aggressive cost-cutting measures. Earlier this week, Elon Musk announced he would scale back his involvement with DOGE to focus on his businesses, including Tesla, SpaceX, and X Corp. 'I need to prioritize the companies driving innovation and progress,' Musk posted on X, signaling a shift as Tesla grapples with mounting challenges. What the organisers of the high-profile event said on Tesla exec pulling out The EIIS expressed disappointment over Harris's withdrawal but said it respected her decision. 'We understand the complexities of the current climate and remain committed to fostering dialogue on sustainability,' an EIIS spokesperson said. The conference will proceed with other speakers, though organizers are bracing for potential protests.
Reuters
23-04-2025
- Automotive
- Reuters
Tesla exec cancels Rome conference trip over security concerns
ROME, April 23 (Reuters) - A Tesla (TSLA.O), opens new tab senior executive has cancelled her attendance at a conference in Rome over fears of protests surrounding the carmaker in response to CEO Elon Musk's right-wing activism. Tesla cars, infrastructure and offices have recently become targets of vandalism in several countries, including Italy. The group's sales have nosedived along with its share price, which has lost more than 30% this year. Samantha Harris, Tesla's Global Sustainability Lead, had been due to speak at Regenerative Futures, opens new tab, a conference planned in Rome for May 16-17 by the European Institute of Innovation for Sustainability (EIIS). "Given the recent protests and violence against Tesla, and now in Rome, I've been asked to hold my external presence and travel ... I won't be able to attend," she said in an email to the EIIS seen by Reuters. A fire at a Tesla dealership in Rome last month destroyed 17 cars in what tech-billionaire Musk described as an act of "terrorism." Drone images of the fire showed the burnt-out remains of cars lined up in a parking lot, with two rows of vehicles back-to-back and a third row some distance away. Musk, a close ally of President Donald Trump, has been working to eliminate wasteful U.S. public spending through the Department of Government Efficiency (DOGE). However, he said on Tuesday he would cut back the time he devotes to DOGE in order to spend more time running his many companies.
