Biotech jobs boost for Grangemouth in £8.5m fund

The Scottish Government has announced funding of £8.5m to support the creation of up to 460 new jobs at Grangemouth.   

The funding comes as part of the SNP administration's Grangemouth Just Transition Fund, which is designed to support industry, the workforce and the community after the former Ineos oil refinery shut down in 2024.  

The closure led to the direct loss of over 400 jobs, with concerns that there could be more than 3,000 job losses in supporting industries.  

The latest funding award aims to provide new work for the area, with support split between companies and organisations in Grangemouth. Up to £1.5m in funding will be matched by the UK Government. 

As a condition of the funding, former Grangemouth workers will be given priority during recruitment, including the guarantee of a job interview.  

Energy secretary Gillian Martin said: “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.”  

Scottish biotech firm MiAlgae will receive up to £1.5m in funding from the Scottish Government, which will be matched by the UK Government. The company is expected to create up to 310 jobs over the next five years.  

MiAlgae is developing fish-free omega-3 using algae from whisky byproducts, saving an estimated 30 tonnes of fish per tonne of algae produced in an effort to reduce the impact of over-fishing on wild stocks. The Scottish Government claims that the firm will deliver an additional £53m into the economy over the next five years.  

Scottish secretary Douglas Alexander said: “This £1.5m UK Government investment will support MiAlgae's innovative green technology and boost jobs and investment in Grangemouth.”  

Celtic Renewables will also be given over £6m from the Scottish Government to support pre-construction work on a proposed bio-refinery supporting the manufacture of "green" chemicals. Green chemicals are created from food, drink and farming sector waste which is converted into acetone, butanol and ethanol.   

An additional £150,000 will be awarded to community charity CVS Falkirk over the next three years to help ensure community voices are “present as part of the delivery” of the Grangemouth Just Transition Plan.