© MiAlgae
Following a successful £14 million funding round, Scotland-based biotechnology innovator MiAlgae has announced plans to accelerate the expansion of its operations and production with the construction of a new facility. This announcement follows the company’s successful commercial-scale production of its algae-based Omega-3 product, NaturAlgae, at its demonstrator site in Scotland.
Launched in 2023, MiAlgae’s demonstrator site has proven the viability of its approach to omega-3 production, through which it seeks to curb the reliance on wild fish stocks for fish oils. By repurposing nutrient-rich by-products from whisky distillation, the company grows microalgae, providing an alternative source of Omega-3s and positioning the biotech company to revolutionise the aquafeed ingredients industry.
The new production facility will enable the company to meet the rising demand across the aquaculture, pet food, and human health sectors for sustainable Omega-3s. This expansion will boost MiAlgae’s production capacity, fuel its global growth, and create new employment opportunities.
“This investment marks a significant milestone for MiAlgae. The success of our demonstrator site has validated our technology at scale, attracting serious international support. With this backing, we’re focused on building the infrastructure needed to meet the growing global demand for sustainable Omega-3s whilst continuing to advance innovation in biotechnology,” said Douglas Martin, chief executive of MiAlgae, in a press release.
“MiAlgae stands out by combining technology and market demand to address the growing need for fish oil alternatives. As fish stocks decline and prices rise, MiAlgae’s approach is poised for global impact, and we’re excited to see it unfold," commented Ali Morrow, partner at Clay Capital – one of MiAlgae’s new investors.
