Press release 10.04.2026
As global spirits producers face slowing demand and growing inventories, Danish technology company EtOH Spirits is introducing a new approach to production. With a new investment from Delphinus Venture Capital and Rockstart, the company is now set to scale its patented technology that significantly reduces maturation time while also lowering CO₂ emissions.
In an industry where tradition and years of barrel aging have long been prioritised over innovation, EtOH Spirits has spent years developing an alternative. With the current market slowdown forcing producers to rethink their business models, the timing has shifted.
Declining sales and large volumes of capital tied up in aging inventory are creating pressure across the industry. This has opened the door for EtOH Spirits’ core solution: accelerated maturation.
Industry headwinds create opportunity
Paradoxically, the challenges facing the spirits industry are now driving demand for EtOH’s technology.
“The current market situation is forcing producers to become more flexible. Our technology not only reduces maturation time but also removes the capital lock-up and risk associated with long-term aging,” says Tobias E. Jensen, founder of EtOH Spirits.
The approach is already gaining traction internationally. With signed agreements in Asia and growing engagement in North America, the company has begun to demonstrate commercial validation beyond its home market.
The investment round, led by Delphinus Venture Capital and Rockstart alongside an existing business angel, will support international expansion, pilot installations in key markets, and further development projects with leading global producers of whisky and rum.
“EtOH is a strong example of how deep domain expertise can challenge a highly traditional industry. The combination of scientific foundation, product understanding, and global ambition is exactly what we look for in our investments,” says Magnus Theil Olsen, Investment Associate at Delphinus Venture Capital.
When tradition meets science
Tradition and storytelling have long shaped the spirits industry, with many processes passed down through generations, often without scientific validation.
“One of the biggest realisations for me was how much of the industry is built on tradition and assumptions rather than systematic science” says Tobias E. Jensen.
EtOH has taken a different approach, building its technology on a research-driven foundation where hypotheses are tested and validated.
The result is a system capable of replicating the key chemical reactions that typically occur during years of barrel aging. The ambition is not to replace traditional methods, but to provide producers with new tools to develop and scale production more efficiently.
From early experimentation to advanced food science
The origins of EtOH Spirits trace back to Tobias Emil Jensen’s early interest in brewing. As a student, he helped establish a brewing group at his high school, experimenting with beer production alongside classmates and teachers.
“That’s where the fascination began – the idea that relatively simple ingredients and chemistry could create entirely new flavours” he explains.
This interest led him to study food science at the University of Copenhagen, where he later specialised as a brewmaster. Here, he combined his passion for flavour with a deeper scientific understanding of chemistry and process development.
Following his studies, Tobias co-founded the brewery To Øl, continuing to explore the intersection of craftsmanship and science. Over time, his focus shifted towards spirits and the chemical processes behind maturation – ultimately leading to the creation of EtOH.
About EtOH Spirits
EtOH Spirits is a Danish technology company developing solutions to accelerate the maturation of aged spirits. By combining ultrasound, controlled heat, and oxygenation, the company replicates and controls the chemical reactions that typically occur during years of barrel aging.
About Delphinus Venture Capital
Delphinus Venture Capital is a Danish venture fund managing DKK 600 million. The fund invests in research-driven innovation and deeptech companies with the potential to create global impact.
About Rockstart
Rockstart is an international early-stage investor focused on energy, agrifood, and emerging technologies. The firm has invested in more than 350 startups and operates offices in Amsterdam, Copenhagen, and Bogotá.
For further information
Magnus Theil Olsen
Investment Associate, Delphinus Venture Capital
mto@delphinus.vc
+45 20 68 92 95