University of Edinburgh startup MiAlgae began construction of its new sustainable manufacturing site at Grangemouth yesterday, backed by £3m in UK and Scottish Government funding.
MiAlgae - founded by Douglas Martin following his MSc in Synthetic Biology and Biotechnology in 2016 - makes fish-free Omega 3 out of algae by repurposing whisky byproducts, using engineering biology techniques.
The first new project at Grangemouth since the refinery closure, the biotechnology plant is expected to create 310 new ‘green’ jobs over the next five years and deliver an additional £53 million into the Scottish economy.
£1.5m comes from the Scottish Government’s Grangemouth Just Transition Funding, matched by £1.5m from the UK Government’s Grangemouth Investment Taskforce.
MiAlgae’s new site will increase the supply of high-quality, fish-free Omega 3 oils for the global pet-food and aquaculture industries. This environmentally friendly alternative to sourcing Omega 3 from fish oil is estimated to save 30 tonnes of fish for every tonne of algae produced.
Douglas Martin, Founder and CEO of MiAlgae, said:
Breaking ground at Grangemouth marks an exciting new chapter for MiAlgae. Our mission has always been to make a meaningful impact, tackling overfishing, reducing waste, and creating sustainable value from industrial by-products. This new facility is a huge step towards delivering that mission at scale, bringing new, high-quality green jobs to the local area, and helping Scotland lead the way in this exciting new biotech industry. ”
The investment demonstrates the long term potential of Grangemouth for sustainable manufacturing, with further jobs to be created at ‘green chemical’ manufacturer Celtic Renewables, following the Scottish Government’s allocation of £6.23 million to support pre-construction work for a new bio-refinery at Grangemouth.
In June, a new £14m sustainable manufacturing hub called C-Loop launched at the University of Edinburgh, aiming to use engineering biology techniques to transform waste usually destined for landfill into next-generation materials including pharmaceuticals and cosmetics.
MiAlgae’s investment forms part of Project Willow, the Scottish government initiative aimed at transforming Grangemouth into a hub for green technologies.
UK Government Energy Minister Michael Shanks said:
Today we’re taking another step forward as we back the first new project at the site, creating hundreds of new, decent jobs and attracting further investment in the area.
This project, alongside the £200 million of funding pledged from the National Wealth Fund, is part of our clear strategy for Grangemouth’s industrial future. A strategy with workers, unions, businesses, and the wider community at its heart. ”
Scottish Government Energy Secretary Gillian Martin said:
This funding is only the start of the Scottish Government’s support to help safeguard Grangemouth’s role as a leading industrial cluster, and ensure the site continues to support our economy through new, green investment opportunities. ”
Kate Fox, Head of Investment at OCC, said:
As a long-standing investor in MiAlgae, this kind of success story is what we’re all about - backing the most exciting ideas and technologies emerging from the University of Edinburgh.
Engineering biology is a focus area for the University, part of our mission to tackle the climate and environment crisis, and seeing our startup MiAlgae at the heart of a green revolution for sustainable manufacturing in Scotland is inspiring for us all. ”
