It will be the first distillery to be built in the Scottish Borders for over 180 years, according to TTSC, which was founded by Tim Carton, John Fordyce, Tony Roberts and George Tait.
Plans are afoot to convert dissued industrial buildings in Harwick into a distillery and visitor centre in early 2016.
Carton said: “Scotch has shown all the signs of long term sustainable growth over the last 20 years. Malt scotch is vital for blended scotch, as well as for single and blended malts.
"The pressure on malt supply is ongoing and TTSC is well positioned to contribute to the next growth phase. We are delighted to have the support of such experienced and enterprising investors to help us realise our scheme.”
TTSC is funded by a group of private investors led by the Edinburgh-based investment company Badenoch & Co.
Harwick was chosen for its “rich industrial tradition” and because of natural resources near by.
Fordyce added: “There is a plentiful supply of pure water which the mills have depended on for cashmere and tweed production. We also have on our doorstep what is undoubtedly Scotland’s most fertile barley-producing land."