The firm has announced large-scale plans to develop a market-leading primary processing facility to supply a global market set to grow by $7.8bn outside of the Far East over the next eight years.

The Fife-headquartered firm, having retained seven jobs in the local region following the purchase of assets from Mara Seaweed (in Administration), has set its sights on scaling up its factory and operations with market-leading tech in order to become the UK’s leading harvesting and processing hub for seaweed.

The Scottish seaweed industry has seen much interest and change in recent years, but is still an under-invested, untapped, and highly fragmented sector. Seaweed is a potent and abundant ocean resource packed full of nutritional, cosmetic and pharmaceutical benefits, as well as being an agricultural asset as both a fertiliser and foodstuff.

Seaweed Enterprises has been established by CEO Pete Higgins who is experienced in getting businesses investor ready and scaling for growth, along with the senior team from Mara Seaweed – Arnie Sathiy and Clare Dean – who have several years’ practical and commercial experience in the seaweed industry.

The team has already successfully secured private investment to roll out its business plan, which aims to see it grow to become the leading seaweed processing hub, supporting sustainable business growth for the Scottish seaweed sector with market-leading tech, whilst always pushing responsible harvesting protocols and enduring partnership work.

Significant capital expenditure at Seaweed Enterprises’ Glenrothes site is key to its investment strategy, allowing the production and sale of a range of species in demand from a vast array of offtake channels, already looking to seaweed for sustainable solutions.

The firm’s goal is to broaden its revenue base across a range of commercial opportunities, from the food industry to skincare and agri-business (fertilisers/feedstock), positioning Seaweed Enterprises as a centrally located solution to the continued bottlenecks seen across the seaweed industry as it matures.

Seaweed Enterprises CEO Pete Higgins said: “Seaweed is an extraordinarily beneficial natural resource whose potential is not yet fully realised, so this is a tremendously exciting time for Seaweed Enterprises and the sustainable seaweed sector as a whole.

“Working in partnership with Scottish seaweed farmers, as well as the large volume from our licence to wild harvest granted by the Crown Estate, we are proud to be developing innovative products to the highest standard.

“Our state-of-the-art facility will offer not only volume much needed by many customers, but importantly the versatility and refinement for higher value items.”

Commenting on the sale, joint administrator Callum Carmichael, partner FRP Advisory, said: “The sale is a great result for everyone involved with Mara Seaweed in particular the staff, suppliers and extensive customer base.

“It is particularly rewarding that 7 jobs have been saved and the future of an innovative food processing business has been secured. We are extremely grateful for the support we received during the administration and wish the new owners every success with their acquisition.”