It is not yet clear when the venture, called Second Choice, will launch or how it will be positioned.
However, Watt says he intends to take a different approach, describing it as “smaller, more focused, more obsessive about quality”, with an emphasis on building the brand alongside its community from day one.
He has already invited feedback across a range of areas, including packaging.
The move is being heavily promoted on social media, with Watt offering former BrewDog Equity Punks - many of whom lost out on when the brewer was sold to current owner Tilray for £33m earlier this year - the same equity stake in the new business free of charge.
“Thousands of people trusted me to build a fantastic beer business and create value for them. It was an obligation I took — and still take — very seriously, and I for one am not done with that obligation,” he said.
Watt added that 19.3% of Second Choice would be allocated to Equity Punks.
“No catches, no cash required and your equity in Second Choice will always rank alongside my own,” he said. “You’ll own it, I’ll fund it and I’m going to dedicate myself to building it. We’re going to start small, be obsessive about the beer and build this thing from the ground up.
“We’ll take the highs and the lows, learn from the successes and the failures - and this time, hopefully build something even better.”
He also revealed plans to launch an “alcohol-adjacent” concept initially, ahead of the core beer business. “Because that may take some time, we are initially launching a really interesting alcohol-adjacent concept (more on this soon). You will also have the opportunity to own part of this new brand for free,” he said.
Watt added that Second Choice would enter the market once it had secured “all the relevant licences and legal consents”.
Watt founded BrewDog with Martin Dickie in 2007 and stepped down as chief executive in May 2024 after 17 years leading the business.
Brewdog collapsed into administration earlier this year after struggling under a massive debt load of over £550 million.
The collapse completely wiped out the company’s famous crowdfunding model.
More than 200,000 small investors who backed the Equity for Punks scheme lost their entire investment, totaling around £100m.
Because of “liquidation preferences” tied to a major private equity investment from TSG Consumer Partners back in 2017, everyday shareholders were at the back of the line for payouts.
Earlier this year, Watt said he was “heartbroken” following the sale of the company to Tilray - a US-based cannabis and beverage group - having attempted to buy the business out of administration himself.