Plans have been submitted to increase algae production at Grangemouth in a move that could create 100 new jobs.
The firm behind the project, MiAlgae, has said that the expansion will enable it to continue creating “retraining opportunities for workers transitioning from the oil and gas industry”.
The business secured £13.8 million in a Series A funding round last year to finance the scale-up.
Douglas Martin, founder and managing director of MiAlgae, said: “Grangemouth has incredible potential for us as we look to the next stage of our growth.
“This location offers an ideal position to support our scaling efforts and meet the increasing demand for our ‘biotech for good’ solutions, with the creation of green jobs across engineering, production, and research and development.
“We are confident that this new facility will help build a greener future and bring high-quality, sustainable jobs to the local community.”
© Supplied by MiAlgaeGrangemouth worker woes
Workers in Grangemouth are currently facing career uncertainty as the owners of Scotland’s only oil refinery look to shut up shop.
Petroineos launched the first wave of redundancies at the Grangemouth oil refinery early this year as it aims to close that part of the plant.
The firm is set to cut 400 jobs at the site in the coming months in a move that unions labelled a “national disgrace”.
© Andrew Milligan/PA WireHowever, a £1.5 million feasibility study published in March claimed clean energy projects at the Grangemouth refinery could create around 800 jobs over the next 15 years.
The government-backed initiative, titled Project Willow, detailed nine potential projects that could be developed at the site, helping secure a long-term industrial future.
This week, Labour MP Brian Leishman pointed out “striking similarities” between the plant there and the Scunthorpe steel plant and argued that the site should be nationalised in the same way that British Steel has been.
© Supplied by MiAlgaeThe biotech firm said: “Timing is critical, which is why the company is keen to see the Grangemouth site plans are approved as quickly as possible. Alternative sites are being explored as a contingency.”
Sláinte to microalgae at Grangemouth
MiAlgae aims to develop a “modular” site that will repurpose whisky industry by-products to grow microalgae as a sustainable and cost-effective alternative to fish-derived Omega-3s.
It said that Grangemouth is “ideally located” for this task due to its close proximity to distilleries and its central belt customers, which will help it scale its sustainable production model.
© Supplied by MiAlgaeThe design of the site will enable MiAlgae to expand as and when demand grows.
Currently, microalgae is used in the aquaculture and pet food markets, however, the firm is also investigating the meat alternatives, nutraceuticals and livestock feed sectors to expand its customer base.
