Crowdfunding bid launched to save Welsh film after £4m deal collapses

Nation.Cymru Staff

A Welsh production company is turning to crowdfunding to save a major film project after a signed £4 million investment deal fell through.

Welsh independent production company Calon Films Ltd has today announced the launch of a global crowdfunding campaign that will place the future of its debut feature film, Iniquity, into the hands of the Welsh people.

Iniquity tells the true story of Richard Lewis, better known as Dic Penderyn, Wales’ first working-class martyr whose execution following the Merthyr Uprising of 1831 has become one of the defining injustices in the country’s history.

Evidence that emerged after his execution strongly suggested he was innocent of the crime for which he was hanged. Dic Penderyn’s final recorded words before his execution were: “O Arglwydd, dyma gamwedd.” (“Oh Lord, here is iniquity.”)

The campaign launch coincides with the 195th anniversary of the execution of the Welsh martyr, and aims to unite supporters across Wales and the global Welsh diaspora to bring his story to screen, while preserving the legacy of the Merthyr Uprising for future generations.

Investment

Over the past 18 months, the independent production company has presented its vision, business plan and creative ambitions to high-net-worth Welsh investors through a series of investment evenings held across Wales.

Throughout that journey, the five founders have also invested thousands of pounds to bring Iniquity into production.

Calon Films Chair and Iniquity writer, Stuart Broad, said: “I’ve always maintained that we’re new to this, but we’ve assembled an incredible team of professionals to bring this hugely important Welsh story to the big screen.”

Welsh BAFTA-winning director Chris Crow (The Lighthouse, 2016) is attached to direct, while award-winning producer Michael Riley of Sterling Pictures Ltd is producing the film.

Alongside the production, adapted from the award-winning stage play of the same name, Calon Films campaigned for a posthumous Royal Pardon for Richard Lewis.

The petition, calling on King Charles III to grant the pardon, received support from members of both Houses of Parliament and the Welsh Senedd, recognising the historical significance of the campaign.

A long-time supporter and advocate of their work is the newly appointed Secretary of State for Wales, Stephen Kinnock MP.

The Welsh Secretary said: “Taking the play from the stage to the screen will immortalize the Dic Penderyn story and the fight our ancestors went through. This type of exposure can only increase awareness and help it reach a wider audience and in-doing-so help achieve a posthumous pardon for Dic Penderyn”

Reality

The campaign follows the decision by investor Mark John Davies of Aerospace Asset Capital Ltd not to proceed with his signed £4 million investment agreement.

The company’s first investor evening took place in April 2025 at Blanco’s Hotel in Port Talbot, opposite the cemetery where Dic Penderyn is buried.

Around 180 invited guests enjoyed a luxury four-course meal, live entertainment, a male voice choir and commemorative gift sets.

Between each course, the Calon Films team presented the film’s story, business plan, political endorsements and creative vision.

The event was repeated twice more at Giovanni’s Restaurants in Cardiff, hosted by Cardiff Entrepreneur of the Year Giovanni Malacrino.

The evenings attracted investment and support from a number of prominent Welsh business figures, including Port Talbot-born biotech entrepreneur Professor Sir Christopher Evans OBE, owner of Castell Howell Foods; Brian Jones MBE, Alan Barham of Chemical Corporation, and Mark John Davies.

According to Calon Films, Mr Davies attended all three investor evenings and progressively increased his proposed investment, while accepting hospitality and gifts funded from the company’s start-up capital.

Mr Broad said: “We’re certainly not millionaires, but we also knew this project could only become a reality with significant financial backing.”

In November 2025, Mr Davies signed an investment agreement committing £4 million to the production, which was then publicly announced Calon Films.

The project subsequently attracted widespread media coverage, and the company’s social media channels experienced significant growth both within Wales and among Welsh expatriate communities around the world.

Pre-production commenced in early 2026, with nationwide casting calls announced for St David’s Day.

A launch event was held in January, attended by investors and invited guests, including Charlotte Church and Scott Quinnell.

Mr Davies was among those who voluntarily appeared on camera to speak about his support for the project — just six days before the first instalment of his signed investment agreement was due. Six days later, the payment failed to arrive.

Red flags

When approached by the production team, Mr Davies reportedly explained that he was significantly in the red.

When asked why this had not been disclosed previously — including less than a week earlier while publicly celebrating the investment — Calon Films state that Mr Davies allegedly responded: “A lot can change in six days.”

Mr Broad confirmed that Calon Films undertook what it considered to be appropriate due diligence on both Mr Davies and his company, Aerospace Asset Capital Ltd, before entering the agreement and announcing the investment.

Mr Broad said: “There were no major red flags. Some of the figures being discussed appeared significantly higher than the value of his UK company, but Mr Davies maintained that the investment was coming from funds held outside of the UK.”

Solicitors subsequently became involved, and Calon Films chose not to identify Mr Davies publicly in the hope that the matter could be resolved privately and professionally.

Calon Films says that Mr Davies has since informed them that he would not be proceeding with the investment. The company alleges that Mr Davies stated: “Take me to court if you want. This contract is not worth the paper it’s written on!”

Mr Broad later met Mr Davies at The Bear Hotel in Cowbridge, and with Mr Davies’ express permission recorded the conversation.

Reflecting on that meeting, Mr Broad said: “During our conversation I deliberately asked Mark Davies a direct question relating to his investments that I already knew the answer to.

“Mark Davies’ response to that question was inconsistent with the information available to me. I formed the personal view that in my opinion, Mr Davies never had any intention to invest in our film.

“That is my opinion based on all the information available to me”

Mr Davies was approached by BBC Wales Today when they first reported the story in June 2026 but chose not to comment.

As a consequence of the failed investment, Calon Films announced that production of Iniquity the movie would be postponed.

Mr Broad said: “The embarrassment and potential reputational damage this has caused has been monumental. Not to mention the stress it has placed on everyone involved.”

Support

Despite the setback, Mr Broad emphasized that Calon Films continues to enjoy the full support of its existing investors, including Welsh businessman Brian Jones MBE and biotech entrepreneur Professor Sir Christopher Evans OBE.

Sir Chris said: “Stuart has assembled an incredible team around this project. INIQUITY has my full support, and I firmly believe it has all the makings of an unforgettable movie.”

Calon Films branding manager, Dean Lawrence, added: “The outpouring of support from across Wales and proud Welsh people around the world has been truly inspirational. This groundswell of Hiraeth has reinforced what we’ve always believed. There is a genuine appetite for this story to be heard!”

Inspired by that support, Calon Films announced plans to launch a global crowdfunding campaign in August, timed to coincide with the 195th anniversary of Dic Penderyn’s execution.

The announcement also follows Neath Port Talbot’s shortlisting to become the UK Town of Culture 2028.

Calon Films contributed to Neath Port Talbot Council’s consultation process, supporting the town’s cultural ambitions, and believes Iniquity can play an important role in showcasing the area’s industrial and social history to audiences around the world.

Building on that vision, the company has submitted a proposal to the Neath Port Talbot Heritage, Culture & Tourism Growth Fund to establish a Dic Penderyn Heritage Trail.

The legacy project would combine film, heritage, public art and storytelling to create a permanent visitor attraction celebrating the significant historical figure.

Calon Films is also in early discussions with neighbouring local authorities, such as Merthyr and Cardiff, regarding opportunities to extend the trail beyond Port Talbot.

The company believes the project has the potential to become a flagship example of film-induced tourism, encouraging visitors to discover Wales through its history, landscapes and stories.

Mr Broad concluded: “The hearts and minds of the Welsh people are strong and proud and our stories deserve to be told.

“It is the people of Wales who have firmly embraced INIQUITY and made it ‘The People’s Film’, meaning it could well be financed in much the same way our ancestors achieved extraordinary things — through good people standing together in unwavering solidarity to overcome such adversity.”

He added: “The story of Dic Penderyn and of all our ancestors who sacrificed their today for our tomorrow is what has inspired us to never give up on this remarkable project!”

The Iniquity crowdfunder is available here. For more information on Calon Films, visit their site here. or to pledge your support behind Calon Films and Iniquity – ‘The People’s Film’ please click the links below;

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