A company that takes frozen water to craft “stunningly beautiful, crystal clear craft ice to elevate your cocktail experiences” will invest $14.7 million and create 26 jobs at a new manufacturing facility in Forest City.
Abstract Ice, founded in 2018, is a large-scale manufacturer of craft ice. The company is based in Petaluma, California, about 40 miles north of San Francisco. Abstract Ice offers a “variety of crystal-clear, slow-melting ice products that add tremendous beauty to cocktails while lessening dilution.”
The company’s proprietary technology automates the labor-intensive process of hand-carving cocktail ice. Its products are used primarily in bars and event venues, and also sold in grocery stores. Artisanal ice comes in a range of shapes and sizes, including custom-etched cubes with logos or artistic designs, spheres and interesting gem-like shapes.
“It’s taking ice from 1.0 to 5.0,” says CEO Todd Stevenson. The ice will be as clear as glass, he says. Holiday offerings include ice with snowflakes and reindeer etched on the surface.
The company has two plants in the San Francisco area and one in Portland, Oregon. The Forest City site will be its largest. It will be in a facility that formerly dealt in frozen meats, making it a good fit for an ice company, says Stevenson.
He expects the Forest City site to begin producing ice by mid-2025. Once it starts producing, Abstract Ice products will become available in North Carolina and other East Coast markets. The products are now only available in California and Oregon. Mollie Stone’s markets in San Francisco had a bag of 18 of the 1.5-ounce cubes for sale for $14.09, according to its website.
In July, Abstract Ice filed paperwork with the SEC stating it had raised almost $12.4 million from 68 investors. The money was to be used to “aggressively” expand the private company and broaden and accelerate product development, according to a release. The company has 30 employees, Stevenson says. The company is “breaking even” now, but Stevenson expects it to be profitable soon. He declined to be specific about revenue questions.
“We are excited to be coming to North Carolina and look forward to becoming a part of the Forest City community,” says Stevenson. One of the investors in Abstract Ice was familiar with the available site in Forest City, he added.
Annual wages for new positions will average $57,038, exceeding the Rutherford County average of $45,030. These new jobs could potentially create an annual payroll impact of more than $1.48 million for the region.
Leaders of Abstract Ice were part of the management of Lagunitas Brewing Co., which was bought by Dutch brewing giant Heineken in 2017, says Stevenson, who was chief operating officer at Lagunitas. Reports put the value of Lagunitas Brewing at about $1 billion.
A performance-based grant of $75,000 from the One North Carolina Fund awarded to Abstract Ice will help facilitate the company’s expansion in Rutherford County.