Innovation Beverage Group

What Innovation Beverage Group does

Innovation Beverage Group Limited (NASDAQ: IBG) is a Sydney-headquartered, publicly listed beverage company founded in 2019 that develops, manufactures, and markets a portfolio of 60 alcoholic and non-alcoholic formulations across 13 brands, including Australian Bitters Company (holding 45% of the Australian bitters market in 2024), Bittertales, Twisted Shaker pre-batched cocktails, Drummerboy non-alcoholic spirits, Coventry Estate gin, Geo Liqueurs, and Cheeky Vodka. The company operates a state-of-the-art FDA and GMP certified production facility in Sydney, leverages major distribution partnerships (Coca-Cola Europacific Partners for Australia, Blue Ridge Spirits & Wine Marketing for the US, Rockland Trading for the Middle East), and runs direct-to-consumer marketplaces including bevmart.com, bevmart.com.au, and wiredforwine.com (acquired November 2021).

In late 2025 the company announced a definitive reverse triangular merger with Texas-based BlockFuel Energy Inc., a US onshore oil and gas operator, representing a fundamental strategic pivot. BlockFuel, which became a 51%-owned subsidiary in March 2026, holds 61 operated wells across a 55-square-mile footprint in Payne County, Oklahoma, is producing approximately 100 barrels of oil equivalent per day (as of April 2026), and has a planned multi-well vertical drilling program in H2 2026 supporting 400+ future drilling locations. BlockFuel also completed a $12.5M acquisition of 46 horizontal oil and gas wells plus 8 saltwater disposal wells across ~30,000 acres in January 2026 and entered a joint venture with UAE-based Greenbelt Industries LLC for digital asset mining powered by stranded gas at wellhead locations.

The business model combines traditional multi-channel beverage distribution (enterprise sales-led through major distributors, plus DTC e-commerce) with a forthcoming energy and digital infrastructure revenue stream. Upon merger close, the combined entity is expected to trade under a new ticker with BlockFuel equity holders owning approximately 90% of the combined company. The company has raised $6M in a March 2026 registered public offering and holds a $2M ATM facility with Aegis Capital Corp to fund the transition. The company received a Nasdaq delisting warning in May 2026 for failure to file its annual report on Form 20-F.

Name

Innovation Beverage Group

Legal name

Innovation Beverage Group Limited

Website

https://innovationbev.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Innovation Beverage Group (NASDAQ: IBG) is a Sydney-based beverage company with 13 brands (45% Australian bitters market share) that is pivoting through a reverse triangular merger with Texas-based BlockFuel Energy, a US onshore oil and gas operator with 61 Oklahoma wells and 100 boe/d production.

Ownership category

akta.pro rank

Product category

Distilled Spirits and Bitters

NAICS

Distilleries (312140), Beverage Manufacturing (3121)

SIC

Beverages (2080)

akta.pro primary industry

Alcoholic Beverage Mixers & Cocktail Ingredients Brands (Non-alcoholic) (CRADAIAH)

akta.pro secondary industry

Cocktail Mixes & Alcoholic Beverage Bases (non-alcoholic mixers, RTD spirit bases) (AFAFAGAH)

Keywords

• Craft spirits
• Cocktail bitters
• Non-alcoholic spirits
• Pre-batched cocktails
• Beverage distillery

Headquarters

HQ city

Seven Hills

HQ country

Australia

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Marketing or Sales, Operations, Personnel, Technology or R&D

Revenue model

1. Beverage Product Sales: Traditional beverage sales through distribution partnerships and direct-to-consumer platforms, including spirits, bitters, pre-batched cocktails, and non-alcoholic spirits sold under multiple brands including Australian Bitters Company, Bittertales, Twisted Shaker, Drummerboy, Coventry Estate, and Geo Liqueurs.
2. Direct-to-Consumer Marketplace: Online retail platforms bevmart.com and bevmart.com.au sell IBG brands plus exclusive products like Drake's Virginia Black Whiskey and Mod Selection Champagne. Wired For Wine operates as an online premium wine retailer in the USA with 500+ wines.
3. Oil and Gas Production: Following the BlockFuel Energy merger, revenue from oil and gas production from Oklahoma assets, including 61 operated wells across 55-square-mile footprint producing approximately 100 barrels of oil equivalent per day.
4. Digital Asset Mining: Joint venture with Greenbelt Industries LLC in UAE for digital asset mining operations powered by onsite natural gas, creating dual revenue streams from energy production and digital infrastructure.

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Innovation Beverage Group is a multi-brand beverage company that develops, manufactures, and markets alcoholic and non-alcoholic beverages—including bitters, pre-batched cocktails, non-alcoholic spirits, gin, liqueurs, and vodka—across 13 brands such as Australian Bitters Company, Bittertales, Twisted Shaker, Drummerboy, Coventry Estate, and Geo Liqueurs. The company operates its own FDA- and GMP-certified distillery in Sydney, Australia, and sells through enterprise distribution partnerships (Coca-Cola Europacific Partners, Blue Ridge Spirits & Wine Marketing, Rockland Trading) and owned direct-to-consumer e-commerce platforms (bevmart.com, bevmart.com.au, wiredforwine.com).

Product overview

Innovation Beverage Group is a multi-brand beverage company offering a diversified portfolio of alcoholic and non-alcoholic products across multiple categories including bitters (Australian Bitters Company, Bittertales), pre-batched cocktails (Twisted Shaker), non-alcoholic spirits (Drummerboy), gins, liqueurs, and vodkas. The company operates both brand-focused direct-to-consumer platforms (Bevmart, drummerboy.com) and acquired retail platforms (Wired for Wine). In 2026, the company pivoted toward energy operations through a merger with BlockFuel Energy, with the combined entity focused on U.S. onshore oil and gas production and power generation.

Differentiator

Problem solved

Functional benefit

Brands

• Australian Bitters Company: Hand crafted in small batches, flagship bitters brand rapidly growing around the globe. Captured 45% market share in Australia in 2024.
• Bittertales Aromatic
• Twisted Shaker Cocktails
• Drummerboy Non Alcoholic Spirits
• Bevmart
• Wired For Wine

Products and services

• Australian Bitters Company Flagship hand-crafted small-batch bitters brand sold to on-premise and off-premise beverage accounts and consumers through Coca-Cola Europacific Partners, Blue Ridge, Rockland Trading, and IBG DTC platforms. Captured 45% Australian market share in 2024.
• Bittertales Aromatic Premium cocktail bitters brand built around a proprietary mix of 20 herbs and spices, targeted at contemporary cocktail consumers and on-premise mixologists in the U.S. and Australia.
• Twisted Shaker Cocktails Award-winning range of five pre-batched bottled cocktails (Tequila Margarita, Cucumber Gimlet, Raspberry Hibiscus Cosmopolitan, Espresso Martini, Whiskey Old Fashioned) sold through beverage accounts and DTC channels.
• Drummerboy Non-Alcoholic Spirits Zero-alcohol non-alcoholic spirit range targeted at consumers seeking adult beverage alternatives without alcohol; awarded Non Alcohol Whiskey Producer of the Year 2022 at MISC.
• Bevmart E-commerce Marketplace Exclusive online direct-to-consumer marketplace operated by IBG at bevmart.com (USA) and bevmart.com.au (Australia) selling IBG spirits, liqueurs, and ready-to-drink products, plus exclusive distribution deals for global brands including Drake's Virginia Black Whiskey and Mod Selection Champagne.
• Wired For Wine Online premium wine retailer acquired in November 2021, offering over 500 highly rated wines to U.S. consumers through wiredforwine.com.
• Coventry Estate Gin Australian botanical gin brand distributed through IBG's beverage channels; awarded Gold at Melbourne International Spirits Competition 2021.
• Geo Liqueurs Coffee liqueur brand within IBG's Australian Boutique Spirits portfolio; won gold at Melbourne International Spirits Competition 2021.
• Cheeky Vodka Grapefruit Flavored vodka product within the IBG spirits portfolio; awarded Bronze at Melbourne International Spirits Competition 2021.

Quantifiable outcome

• 45% market share in Australian bitters market as of 2024
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Greenbelt Industries LLCcoreStrategic or Co-development Partner · 1 January 2026Binding MOU with UAE-based Greenbelt Industries LLC to form a joint venture for digital asset mining operations in Sharjah, leveraging natural gas-powered infrastructure at wellhead locations. Part of BlockFuel Energy's dual-revenue strategy.
• Blue Ridge Spirits & Wine MarketingcoreChannel Partner/ Reseller/ Distributor · 1 November 2024US distribution partnership signed November 2024 to boost sales of Australian Bitters Company and BITTERTALES brands throughout the United States market as part of IBG's U.S. expansion strategy.
• Rockland TradingminorChannel Partner/ Reseller/ Distributor · 1 October 2023Middle East based importer and distributor signed October 2023 for IBG beverage brands in Middle East markets.
• Coca-Cola Europacific PartnerscoreChannel Partner/ Reseller/ Distributor · 1 May 2019Strategic distribution partnership for Australian Bitters Co. brand through Coca-Cola Europacific Partners' extensive distribution network across Australian on-premise and off-premise accounts. IBG achieved placements in a large majority of Australian accounts through this partnership.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Q Mixers: US-based premium cocktail mixer brand (tonics, ginger beers, sparkling waters) competing in the same premium-mixer occasion as IBG's mixer and pre-batched cocktail products, with overlapping DTC and retail distribution strategies.
• Fee Brothers: Family-owned US manufacturer of cocktail bitters, syrups, and mixers with a broad SKU range across aromatic, orange, and grapefruit bitters. Directly competes with IBG's Australian Bitters Company and Bittertales brands in the on-premise and retail bitters category, particularly in the US market IBG is entering.
• The Bitter Truth: German craft bitters brand pioneering the modern premium cocktail bitters category. Closely comparable to Bittertales in positioning - a craft, premium-priced cocktail bitters brand targeting cocktail enthusiasts and on-premise accounts.
• Lyre's Spirit Co. Leading non-alcoholic spirits brand globally with a multi-SKU portfolio mirroring traditional spirits categories. Most direct comparable to IBG's Drummerboy non-alcoholic spirit brand, sharing the same no/low-alcohol end-consumer and on-premise listing strategy.
• Fever-Tree: Leading premium mixer brand (tonics, ginger beers, cocktail mixers) listed on the London Stock Exchange. Most relevant premium-mixers peer for IBG's Twisted Shaker pre-batched cocktails and cocktail-ingredients portfolio, with similar end-customer and on-premise distribution model.
• Granite Ridge Resources: US-listed non-operated oil and gas producer focused on the Permian Basin with a multi-well portfolio and active development drilling program. Comparable as a small-to-mid cap public E&P vehicle into which BlockFuel Energy could evolve if the merger closes, with similar well-reactivation and unconventional asset development approach.
• Angostura: Iconic bitters and rum producer based in Trinidad and Tobago. Most directly comparable as a specialist alcoholic cocktail-bitters and cocktail-ingredients brand competing in the same end-occasion (cocktail culture) as Australian Bitters Company and Bittertales. Notably, IBG's CSMO Genevieve Jodhan was previously CEO of Angostura Holdings Limited.

Broad incumbents

• Diageo: Largest global spirits company with broad portfolio across vodka, gin, rum, whiskey, and tequila. Indirectly comparable as a multi-brand spirits and ready-to-drink manufacturer with established global distribution - the strategic endpoint IBG is trying to scale toward with its 13-brand portfolio.
• Pernod Ricard: Global spirits major with strong bitters and aperitif presence (e.g., bitters brands via Havana Club and Malibu portfolios, plus aperitifs). Comparable as a broad incumbent in the alcoholic beverages CPG space with global distribution capabilities IBG is seeking to build.

Regional players

• Lucas Bols: Dutch-listed global spirits and liqueurs group with broad cocktail-ingredient portfolio. Comparable as a multi-brand spirits and liqueur house targeting the same on-premise cocktail occasion; a regional player relative to Diageo/Pernod but larger and more diversified than IBG.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innovation Beverage Group