New Grangemouth projects announced

£3 million worth of investment has been announced for a new Grangemouth project.

Scottish biotech company MiAlgae are hoping to support more than 300 jobs in Grangemouth over the next five years.

The company will use byproducts from whisky distillation to make fish-free Omega 3.

Eligible Grangemouth workers will be given priority during recruitment, including a job interview guarantee. 

Chancellor Rachel Reeves announced more than £14 million of extra funding for Grangemouth in the Budget last month.

It's hoped theis scheme could add more than £50 million to Scotland's economy.

Energy Minister Michael Shanks said:

"When we came into office there was no plan for Grangemouth. That’s why we quickly took action to secure the site’s long-term future, while supporting affected workers into new jobs.  

"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 Energy Secretary Gillian Martin said: "The Scottish Government will continue to do all that it can to support and promote local opportunities, jobs and growth, in the Grangemouth area.

“Today’s announcement will help to support the creation of up to 460 roles directly and across the supply chain in Scotland, and help to highlight the wide range of viable alternatives for Grangemouth. They demonstrate that a long term, new industrial future at Grangemouth is achievable, and will be vital to support the local workforce and community.

“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.”

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.” 

Scottish Secretary Douglas Alexander said:

“This £1.5 million UK Government investment will support MiAlgae's innovative green technology and boost jobs and investment in Grangemouth.

“The UK Government is backing Grangemouth’s future with real investment and a clear plan. We promised to secure the site's long-term future and create good jobs, and that's exactly what we're doing – supporting new industries, creating opportunities, and ensuring this site remains a vital part of Scotland's industrial heartland for generations to come.

“It is just one of many projects we are working to bring to the site. At the Budget the Chancellor announced £14.5 million for green industrial projects on the site.”

Meanwhile, up to 149 roles will be created in Grangemouth at Celtic Renewables, by 2030.

£6.23 million has been earmarked by the Scottish Government to support pre-construction work for a new bio-refinery at Grangemouth to support the manufacture of ‘green’ chemicals.