Biotech firm secures £2.5m investment to scale up Grangemouth facility

A biotech company has received a £2.5 million funding boost from the Scottish National Investment Bank to support its new production facility in Grangemouth.

MiAlgae, which makes fish-free omega-3 supplements using leftover by-products from the whisky production process, broke ground on its commercial-scale manufacturing facility in December 2025.

On Tuesday, the firm said the £2.5 million investment will help it scale its commercial production and bring new employment opportunities in the Grangemouth community.

MiAlgae said it is forecasting to grow its workforce from 60 to about 156 by the end of 2028.

Jane Reoch, executive director of innovation at the Scottish National Investment Bank, described MiAlgae as “one of Scotland’s most promising biotech companies”.

She added: “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.

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

“MiAlgae’s growing presence and creation of high-quality jobs at Grangemouth contributes to the area’s industrial economy.

”MiAlgae was the first project on the site of the former oil refinery at Grangemouth, and it was announced in the wake of the refinery’s closure in April 2025.

Founder and chief executive Douglas Martin said the new investment brings the firm closer to achieving its mission of protecting 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,” Mr Martin said.

“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.

“We’re excited to have the Scottish National Investment Bank on Team MiAlgae.”

The bank, which is wholly owned by Scottish ministers but operates independently from Government, invests in Scottish projects and businesses with the aim of securing both commercial returns and societal benefits.

Founded in 2016, MiAlgae is headquartered in Edinburgh and committed to developing sustainable solutions to replace marine-sourced omega-3s.

By using by-products from the whisky industry to grow microalgae rich in omega-3, the company says it helps protect the ocean’s resources while enabling the production of high-quality nutritional ingredients for pet food and other markets.

It gained international recognition in 2024 when it was shortlisted for the Prince of Wales’s The Earthshot Prize under the “Revive our Oceans” category, in recognition of its scale-up potential and ecological impact.