{"id":6102,"date":"2026-10-06T07:56:49","date_gmt":"2026-10-06T07:56:49","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=6102"},"modified":"2026-10-06T07:56:49","modified_gmt":"2026-10-06T07:56:49","slug":"snib-backs-eco-nutrition-firm-mialgaes-growth-daily-business","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=6102","title":{"rendered":"SNIB backs eco-nutrition firm MiAlgae’s growth \u2013 Daily Business"},"content":{"rendered":"

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Jane Reoch and Ailsa Young of SNIB with Douglas Martin of MiAlgae<\/em><\/figcaption><\/figure>\n

Scottish biotech company MiAlgae has secured \u00a32.5m from the Scottish National Investment Bank to support its new commercial-scale production facility in Grangemouth.\u00a0<\/p>\n

The expansion will create almost 100 jobs over the next two years and help in the town\u2019s recovery from recent closures.<\/p>\n

MiAlgae produces an Omega-3 powder using by-products from the whisky distilling process. Its plant-based product provides an alternative source of Omega-3, which is traditionally derived from wild-caught fish. <\/p>\n

It is a sought-after ingredient in the aquaculture feed and pet nutrition markets due to properties that promote healthy skin and coats, cognitive function and joint health.<\/p>\n

MiAlgae\u2019s Omega-3 powder is sustainable, fully traceable and supports Scotland\u2019s circular economy while reducing reliance on wild-caught fish.\u00a0<\/p>\n

The company\u2019s pioneering approach gained international recognition in 2024 when it was shortlisted for The Earthshot Prize under the \u201cRevive our Oceans\u201d category, in recognition of its scale-up potential and ecological impact.\u00a0<\/p>\n

SNIB\u2019s investment will help the company scale its commercial production and bring new employment opportunities in the Grangemouth community. MiAlgae is forecasting to grow its workforce from 60 to approximately 156 people by the end of 2028.<\/p>\n

Founder and CEO Douglas Martin set up the company in 2016 while studying synthetic biology and biotechnology at the University of Edinburgh which has remained a backer of MiAlgae\u2019s technological innovation.<\/p>\n

He said:\u00a0\u201cThis\u00a0investment brings us closer to achieving our mission of protecting our oceans while meeting growing global demand for sustainable nutrition. By transforming whisky industry by-products into high-value Omega-3 ingredients, we are reducing pressure on marine ecosystems, preventing waste and creating a truly circular solution.<\/p>\n

\u201cThe new facility represents a major milestone for MiAlgae and will enable us to scale our impact significantly in the years ahead, while playing a part in the regeneration of Grangemouth as a sustainable industrial hub. We\u2019re excited to have the Scottish National Investment Bank on Team MiAlgae.\u201d<\/p>\n

Jane Reoch, executive director of Innovation at the Scottish National Investment Bank, said: \u201cMiAlgae is one of Scotland\u2019s most promising biotech companies. It has stellar innovation credentials and true scale-up potential, all while reducing any negative impact on our oceans and contributing to our circular economy.<\/p>\n

\u201cThis investment ticks all three of our impact missions: innovation, net zero, and our place mission which aims to support thriving communities. MiAlgae\u2019s growing presence and creation of high-quality jobs at Grangemouth contributes to the area\u2019s industrial economy.\u201d<\/p>\n

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