‘New chapter’ for Grangemouth as biotech firm breaks ground on site

The first project on the site of the former oil refinery at Grangemouth has been announced as part of an “exciting new chapter” which could support more than 300 jobs over the coming years.

Scottish biotech firm MiAlgae plans to make fish-free Omega 3 supplements at the site, using leftover by-products from the whisky production process.

Coming in the wake of the closure of Scotland’s only oil refinery in April, the project is expected to create around 130 direct full-time jobs in the Grangemouth community over the next five years, and could support 180 further posts across Scotland.

The work is going ahead with the help of £1.5 million from the UK Government – part of the £14.5 million of support for the area announced by Chancellor Rachel Reeves in her Budget.

The cash will allow MiAlgae to construct its first commercial-scale manufacturing facility, but will also help it accelerate production and support research and development work.

Ministers believe the grant funding will help catalyse further investment at Grangemouth and demonstrate the area’s long-term potential.

UK energy minister Michael Shanks said the project is a “step forward” for the area.

Speaking ahead of a ground-breaking ceremony at the Grangemouth site on Thursday, he 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 Secretary Douglas Alexander said the £1.5 million investment will “support MiAlgae’s innovative green technology and boost jobs and investment in Grangemouth”.

He added: “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.”

He added that MiAlgae is “one of many projects” the Government is “working to bring to the site”.

MiAlgae founder and chief executive Douglas Martin said breaking ground at Grangemouth “marks an exciting new chapter” for his company.

He added: “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.”