It will now be known as the Speight's Fund and will consider applications from throughout Otago, not just Dunedin.
Speight's Brewery tour manager Chris Snow said applications for research or educational purposes that related to the Otago environment would also be considered.
''The Speight's Fund has a strong sense of pride in looking after its home region, and wants to support Otago locals who wish to do the same.''
Speight's provides an annual donation of $25,000 to form the base of the fund. The remainder came from donations received for water taken from the brewery's spring-water tap, and any money made from the sale of reusable water bottles at the brewery tour store.
''We'll also be looking at some initiatives over the next 12 months to raise funds to maximise the amount that goes to environmental projects.''
Previous recipients used the funding to restore streams, control possums and plant trees. Last year, $43,000 was given out to such projects.
The fund would be officially relaunched at Otago's first ITM Cup match at Forsyth Bar Stadium on Sunday, August 18.
Judges convener Nigel Smith said it was always hugely exciting and rewarding to see the great work that recipients of the fund did for the region.
''This year, we would love to give away as much as possible so we can make an ever bigger impact than years gone by.''
Entries would open on August 19 and close on September 30.
