Tyre maker Michelin helps fish farming supplier stay on road to growth
Grant will enable Ace Aquatec to employ more workers in Dundee
Dundee-based fish farming technology innovator Ace Aquatec is to use a grant from French tyre maker Michelin to create local jobs.
Ace Aquatec is getting the undisclosed sum from Michelin Development, which aims to contribute to the economic regeneration and long-term prosperity of the regions in which its tyre making sites are, or were, located. Michelin closed its Dundee factory in 2020 with the loss of around 900 jobs because it was unable to compete with a shift in the market towards low-cost products from Asia.
Ace Aquatec has already created 10 new roles this year at its headquarters in Dundee, from where the company oversees global research and development projects, manufacturing, the co-ordination of engineers and distributors worldwide, and supports its offices in Chile, Canada and Norway.
Targeted growth
“The grant from Michelin Development is supporting us with further targeted, sustainable growth by enabling us to invest in the delivery of more advanced digital data to provide insight to the fish farming community, and to create more new roles in areas including sales, operations and software development in Dundee over the next two years,” Ace Aquatec chief executive Nathan Pyne-Carter said in a press release.
“Access to the funding has been invaluable to us in supporting our hiring programme and investment in technological innovations.”
Brian Cairns, Michelin Development’s business development manager in Dundee, said Ace Aquatec utilised the latest in digital technology to support a greener, more ethical and sustainable fisheries industry.
“It has national and international growth potential and is just the type of business we are geared up to support,” added Cairns.
Subsidised loans
In addition to grants, Michelin Development also supports high-potential, small and medium-sized enterprises in and around the Dundee and Angus region, through services including unsecured, heavily subsidised loans, as well as free, independent, and expert advice to pave the way for growth.
Targeted at manufacturing and service sector (business to business) organisations that have a viable business plan to create sustainable jobs, loans of up to £100,000 are available, and they can be used to lever additional funding from other sources.
Cairns added “Michelin Development is here to support employment in and around the city by helping high-potential firms and entrepreneurs turn their ambitions into reality.
“Manufacturing or service sector (B2B) businesses with fewer than 250 employees may be eligible for support.
“We welcome applications that are supported with a viable business plan, relevant financial accounting information, and that can also show the potential to create high-quality jobs.”
