Algae supplement firm gets £2.5m boost for Grangemouth plant

A biotech company that makes supplements from whisky by-products has been given £2.5m by the Scottish National Investment Bank to boost manufacturing at Grangemouth.

MiAlgae said it planned to more than double its workforce from 60 to 156 by the end of 2028.

The Edinburgh-based firm broke ground on a new commercial-scale manufacturing facility on the site of the former oil refinery in December 2025.

Jane Reoch, executive director of innovation at the Scottish National Investment Bank, described the firm as "one of Scotland's most promising biotech companies".

MiAlgae was shortlisted for the Prince of Wales' Earthshot Prize in 2024.

Its process involves growing microalgae, which is rich in omega-3, in by-products of the whisky production process.

That allows the creation of fish-free supplements, which MiAlgae claims helps to protect oceans and fish stocks.

Founder and chief executive Douglas Martin said the investment would help the firm scale up and meet "growing demand" for sustainable nutrition.

He said: "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.

"The 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."

Petroineos closed the oil refinery at Grangemouth in April last year after more than 100 years of operation.

About 430 people lost their jobs as a result of the closure.

In March, bus manufacturer Alexander Dennis announced plans to close its Falkirk plant with 115 roles lost and focus its Scottish operations on the nearby Larbert site.

Agricultural chemical firm Syngenta also announced it would cease operations at Grangemouth last week, with 377 jobs lost.

The Scottish National Investment Bank is wholly owned by Scottish ministers but operates independently from Government.

It invests in Scottish projects and businesses with the aim of securing both commercial returns and societal benefits.

Reoch said the creation of "high-quality roles" would benefit the local economy.

She added: "MiAlgae has stellar innovation credentials and true scale-up potential, all while reducing any negative impact on our oceans and contributing to our circular economy.

"This investment ticks all three of our impact missions: innovation, net zero, and our place mission which aims to support thriving communities."