MiAlgae raises £2.5M to scale whisky-waste Omega-3 at Grangemouth
What's the deal? Scottish biotech company MiAlgae has secured a £2.5 million investment from the Scottish National Investment BankDealroom has a profile for this one. Try Dealroom → to fund a new commercial-scale production facility in Grangemouth. The round was announced on October 6, 2026.
What's the endgame? MiAlgae makes an Omega-3 powder from by-products of the whisky distilling process, offering a plant-based alternative to Omega-3 sourced from wild-caught fish. The product is used in aquaculture feed and pet nutrition, where it is valued for supporting skin, coat, cognitive, and joint health.
What's the expansion? The Grangemouth plant will scale commercial production and create jobs in a town at the centre of Scotland's industrial transition. MiAlgae expects its workforce to grow from 60 to roughly 156 people by the end of 2028.
Why now? Founded in 2016 by chief executive officer Douglas Martin, the company gained international attention in 2024 when it was shortlisted for The Earthshot Prize in the "Revive our Oceans" category. The University of EdinburghDealroom has a profile for this one. Try Dealroom →, where Martin studied synthetic biology and biotechnology, has remained a backer of its technology.
"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," Martin said.
Who's backing it? The Scottish National Investment Bank describes itself as a patient, mission-led, impact investor focused on net zero, innovation, and place. "MiAlgae is one of Scotland's most promising biotech companies," said Jane Reoch, executive director of innovation at the bank.
The signal: The deal ties a sustainable-nutrition play to regional regeneration, positioning MiAlgae's circular-economy model as both a commercial bet and a job-creation engine for Grangemouth's industrial future.
Read more: scottishbusinessnews.net
Image credit: MiAlgae
