Biotech firm MiAlgae secures £1m to turn whisky by-products into pet and fish food

An Edinburgh-based biotech startup which turns whisky distillation by-products into pet and fish food has received investment of £1 million.

MiAlgae produces microalgae, which is high in omega 3 and other nutrients, from distillation by-products and plans to sell it to pet food manufacturers and fish farm operators. It estimates that one tonne of its algae can feed up to 30 tonnes of wild fish.

New investor Hillhouse Group has joined existing backers Equity Gap, Scottish Investment Bank and Old College Capital in the new funding round. MiAlgae plans to use the money double in size, commission a demonstrator plant in East Lothian and hire five new staff in the next 12 months.

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