The investment will enable the company to expand operations, enhance service capabilities, and establish a new headquarters following the refurbishment of a nearby premises.

Founded 40 years ago as a sole trader operation, Leask Marine initially focused on marine construction and diving around Orkney and the Northern Isles. It has since diversified into inspection, survey, salvage, aquaculture, towing, and general workboat support. Leveraging its extensive experience in challenging local waters, the company became a key partner in the emerging wave and tidal energy sector, establishing itself as a world leader in marine renewables support.

Now employing around 60 people, Leask Marine is a significant regional employer. The funding and subsequent move to a new headquarters are expected to facilitate further expansion, creating more skilled jobs and supporting both the local Orkney economy and the wider renewable energy sector in the Highlands and Islands.

John Macleod, commercial director at Leask Marine, said: “Securing this funding from Royal Bank of Scotland is central to our ambitions as a business.

“We’ll now be able to complete an exciting project in moving from our temporary base to our new HQ, which in turn will help us to expand our services and support the growth of marine renewables in the UK. The positive impacts of this investment will hopefully be felt in Orkney and beyond.”

Leask Marine has been at the forefront of marine renewable energy support, working closely with the European Marine Energy Centre in Orkney and contributing to pioneering projects in the sector. As the company celebrates its 40th anniversary, this funding will help cement its legacy while preparing for future opportunities in marine support services.

Margaret Keenan, senior relationship manager at Royal Bank of Scotland, added: “At Royal Bank of Scotland, we are committed to supporting businesses that drive innovation and economic growth.

“Orkney has a strong reputation across the globe for being a leader in sustainable energy and as the biggest lender to UK business, creating opportunities for Leask Marine to grow is hugely important domestically and internationally.

“As the business prepares for its 40th anniversary it is great to support its further expansion and assist in preparing it for future success.”

According to Highlands and Islands Enterprise, Orkney has outstanding natural resources for renewable energy and around 300 people are directly employed in the sector. The islands have more than 650 turbines, over 400 solar installations and multiple experimental wave and tidal devices generating power, producing well above their need at around 130%.