News Item Default

£1.39m investment approved by HIE in Shetland over the last financial year

Published: 27/04/2023

Figures published by Highlands and Islands Enterprise (HIE) show that the agency approved £1.39m investment in Shetland in the financial year 2022-23 across 39 projects.

Figures collated by Highlands and Islands Enterprise (HIE) show that the agency approved £1.39m investment in Shetland in the financial year 2022-23 across 39 projects.

Between 1 April 2022 and 31 March 2023, HIE has been committed to supporting organisations who are accelerating Shetland’s transition to net zero.

Ness Engineering Ltd received £86,625 to enable the company to provide more sustainable and environmentally friendly services for its clients including green welfare units and generators for large-scale projects in Shetland. The project will support the company to safeguard four jobs and decarbonise its operations with up to 118 metric tons of Co2 being saved over three years – equivalent of 44 tons of diesel – by investing in this low carbon equipment.

Another business that received support to enhance its green credentials is renewables electric and engineering firm, Nordri Limited. It was awarded £65,610 through HIE’s Green Jobs Capital Fund for a project to increase capacity to service wind turbines and instal solar PV systems, contributing to the local transition to net zero. The project included support for investment in new equipment and increasing storage capacity. This will support the company to create four new FTE jobs and save 50mt of Co2.

The Community Development Company of Nesting were awarded funding of £24,022 to extend their popular scrap store recycling service enabling an increase in turnover which in turn helps keeps the organisation financially sustainable, enabling benefit in the local area of Nesting, Wadbister and Girlsta.

HIE has also supported Shetland’s seafood sector over the past twelve months. Family-run aquaculture business, C&A Thomason, based on the island of Yell, was awarded £35,190 to help the business purchase harvesting equipment for its new workboat, allowing them to increase production to 600mt of mussels annually and create four new jobs.

The Shetland Oyster Company – the island’s only oyster farm – was awarded £24,484 towards the costs of its depuration and despatch centre, a key step in getting the company market ready. The company was established in 2020 and is aiming to have oysters at marketable size this year and is expected to create one full-time manager job and two part-time harvesting jobs.

Investment was also made in Shetland’s marine industry with HIE awarding £32,129 to boat building and engineering company, Malakoff Ltd. The grant will support the company to invest in an enhanced winch system that will enable larger vessels to be serviced on its covered slip in Lerwick - the only such facility in Shetland. This increase in the slip’s capacity will result in Malakoff increasing its workforce by two employees

More than £47,000 of funding was also awarded to the tourism sector in Shetland over the 12 months, including support to new start up businesses such as the Auld Manse Café and B&B in Whalsay and Blyde Welcome towards their new barista training services.

On community development activity, more than £270,000 in total was awarded to community groups in Shetland. The agency helped three community anchor organisations with the costs of employing a delivery resource officer to enable the realisation of a wide range of projects that will have a positive community impact. These were Fair Isle Community Development Company, Sandness Community Development Group and Scalloway Community Development Company Ltd.

Katrina Wiseman, HIE area manager for Shetland, said:

“Over the last year, we have broadened our geographic reach to enterprises in some of our more remot communities. This has given us the chance to build new relationships and enhance our understanding of the unique ambitions and challenges of these organisations. As a result, we have enhanced our support to a wide range of organisations and businesses across the islands, working closely with partners including Business Gateway.

Shetland is presented with unique and exciting opportunities at present and we are looking forward to working with clients throughout this new financial year to support expansion, innovation, reaching new markets, employing more people embracing fair work and to progress their journey towards net zero."


Related Articles