In Green Queen yesterday:

University of Edinburgh spinout MiAlgae has secured £2.5M ($3.3M) from the Scottish National Investment Bank to support the construction of its facility to produce fish-free omega-3 from whisky waste.

Scottish startup MiAlgae’s efforts to build a commercial-scale algal omega-3 facility have received a funding boost from the federal (sic) government.

The Scottish National Investment Bank (SNIB) has poured £2.5M ($3.3M) into the firm to support the construction of the factory in Grangemouth, which will help the company scale up and bring new employment opportunities to the region.

Full report at: https://www.greenqueen.com.hk/mialgae-algal-omega-3-fish-oil-whisky-waste-grangemouth-scotland-funding/

Where does the Scottish National Investment Bank get the funds it lends from?

From the Scottish Government (public/taxpayer funds), via capitalisation commitments.⁠Gov

The Scottish National Investment Bank (SNIB) is a state-owned development investment bank wholly owned by Scottish Ministers on behalf of the people of Scotland. It does not accept deposits or operate like a commercial bank; instead, it provides patient commercial debt and equity investments using public capital.

The Scottish Government has committed to capitalise the Bank with up to £2 billion over its first 10 years (to around 2030). This funding is allocated through the Scottish budget (primarily via Financial Transactions, a ring-fenced form of capital funding, plus some regular capital), decided as part of annual budget settlements by the Scottish Parliament. Ministers provide the Bank’s capital funding, while the Bank makes independent commercial investment decisions.

https://www.gov.scot/policies/economic-growth/scottish-national-investment-bank/