Funding worth a total of £2.8 million will drive a second phase of development at Orkney Research and Innovation Campus (Oric).
The cash is from Highlands and Islands Enterprise (HIE) and Orkney Islands Council.
The announcement came at this morning’s official opening of the first phase of Oric by Fred Olson, chairman of Norwegian conglomerate and Orkney marine renewable energy investor Bonheur.
‘Cutting edge’ location
Mr Olsen said: “Orkney can be at the cutting edge of research, innovation and delivery.
“Fred Olsen-related companies are fully behind the ambitions of Oric to encourage collaboration and further Orkney-based R&D (research and development), making these isles a hub of renewable and low-carbon expertise.”
Oric is a joint venture by HIE and the council to support the growing research and innovation activity and expansion of companies working in Orkney’s marine renewables, energy and low-carbon sector.
Around 160 people already work or study at the facilities in Stromness.
It is expected the second phase will result in a further 165 full-time equivalent jobs over the next 10 years.
The new development aims to enhance existing facilities and create spaces to accommodate more academic and commercial activity, collaboration and business incubation.
Space will be created to support small and growing businesses and energy efficiency improvements will be made across the campus, with the aim of achieving net-zero.
A competitive tendering process to secure a design team is under way.
The 3.75-acre campus is on the site of the old Stromness Academy and Primary School.
It has attracted new research activity to Orkney from the commercial and academic worlds.
Substantial investment in isles
The project forms part of wider investment through the Islands Growth Deal – a 10-year investment programme jointly funded by the UK and Scottish governments, both of which will invest up to £50m to drive sustainable economic growth and boost the economies of Orkney, Shetland and the Outer Hebrides.
Local authorities, together with partners from the public, academic and business sectors will invest up to £235m over the same period.
Along with the funding now approved by HIE and Orkney Islands Council, Oric phase two will be supported by up to £8m from the UK Government under the growth deal.
The £2.8m funding package consists of £850,000 each from HIE and Orkney Islands Council towards design work and £560,000 from each for essential external improvements to the windows and stonework at the Charles Clouston Building.
HIE Orkney manager Graeme Harrison said: “Oric plays such an important role in supporting the growth of existing research and innovation activity and the expansion of companies in Orkney’s marine renewables, energy and low-carbon sector.
“This significant investment will support the growth of existing businesses and the creation of new ones.
“Crucially, it will provide more opportunities to attract and retain young people looking to live, work and study in Orkney. This is a project of great significance for Stromness and our islands as a whole.”
Orkney Islands Council leader James Stockan said: “It’s great to pass this significant milestone .
“It’s important we acknowledge the effort that’s been put in by academia and business over the years here in Stromness.”
Continued campus modernisation
Oric executive manager John McGlynn said the cash injection would allow the facility to “keep up the momentum” from the first phase of redevelopment work at the campus completed in late 2020.
Mr McGlynn added: “This funding, along with the funding contribution from the Islands Growth Deal, will allow continued modernisation of the campus to ensure our existing and future campus organisations have the facilities they need to thrive.”
Conversation