Driving Sustainable Growth: MiAlgae Strengthens Leadership with New CFO Appointment

MiAlgae, a pioneering biotech firm dedicated to minimizing environmental impacts through the sustainable production of Omega-3 fatty acids, has announced the appointment of Simon Durrant as its new Chief Financial Officer (CFO). This move comes as the company gears up for significant growth and expansion.

Innovative Circular Technology

Utilizing a revolutionary approach, MiAlgae repurposes by-products from whisky production to cultivate microalgae, which are naturally abundant in Omega-3s. These nutrients are essential for aquaculture, pet food, and human health. By converting industry waste into a valuable resource, MiAlgae not only lessens environmental footprints but also provides an efficient, sustainable alternative to fish-derived Omega-3s.

A Pivotal Appointment

Simon Durrant steps into his role at a crucial juncture for MiAlgae. The company plans to unveil a large-scale production facility in Scotland later this year, projected to generate up to 100 green jobs. This development is a significant leap forward in MiAlgae’s commercial journey and solidifies its standing as a leader in sustainable biotechnology.

A Wealth of Experience

Previously serving as Investment Director at the University of Edinburgh’s Old College Capital (OCC), Simon holds over a decade of financial experience in high-growth and sustainability-oriented sectors. He is a chartered accountant with a BA in Economics from the prestigious University of Cambridge. Simon’s background encompasses strategic consulting, accounting, and early-stage investment, positioning him well to steer MiAlgae through its next phase of expansion.

Recent Achievements

Last year, MiAlgae achieved commercial-scale production at its Scottish demonstrator site and was shortlisted for The Earthshot Prize, recognizing its groundbreaking circular solution as a cost-effective alternative to traditional fish-based oils.

Leadership Perspectives

Douglas Martin, CEO of MiAlgae, expressed his enthusiasm about Simon’s addition to the team, stating:

“Simon’s strategic mindset and deep financial expertise will be invaluable as we scale our operations, expand internationally, and reinforce our role as a global leader in sustainable biotechnology.”

Simon Durrant shared his excitement as well, remarking:

“MiAlgae’s vision for sustainability and what the team has already achieved is inspiring. It’s rare to find a solution that is so compelling from both an environmental and economic perspective, so I couldn’t resist the opportunity to join at such a critical and exciting stage of the journey. I look forward to overseeing the finance function and supporting the business as we drive growth.”

About MiAlgae

Founded in 2016 by Douglas Martin, MiAlgae leverages by-products from whisky distillations to grow microalgae rich in marine Omega-3s. The company integrates cutting-edge advancements in science and technology to enhance food security while reducing humanity’s environmental impact.