Inverness, Scotland-based aquaculture supply company Gael Force Group has announced a growth plan featuring a “multi-million pound” investment in research and development.
The investment, with support from the Royal Bank of Scotland, will focus on aquaculture research that seeks to improve fish health, reduce predation, and “create a greener more carbon friendly way of farming the seas,” Gael Force said in a release. The research is part of the company’s strategy – which currently includes multiple initiatives – to expand into global markets.
Gael Force Group credited the “ambitious” growth plan to the Royal Bank of Scotland, which offered working capital loans and a flexible support package. The company has historically achieved 20 to 25 percent growth year-on-year since its founding in 1983, according to a release, and the new growth plan will allow that trend to continue.
“For almost 40 years, we have been driven to partner with our customers, whether it be the established salmon farmer or the hard-working local fishing community – so we know the importance of lasting, trusted relationships,” Gael Force Group Finance Director Robert Foster said in a release. “It’s something we have in common with the team at Royal Bank of Scotland, who have made the re-banking process as streamlined as possible. They understand our vision and our shared sentiment for sustainable growth, and we are confident this is the beginning of a fruitful and lasting partnership.”
Central to the new growth plan, Gael Force said, is enhancing sustainability in aquaculture – something that the Royal Bank of Scotland said it is “keen” to support.
“As a business and as partners of COP26, Royal Bank of Scotland places a huge importance on sustainability – and the growth plans set out by Gael Force Group reinforced how keen we are to support them on this journey,” Royal Bank of Scotland Relationship Director Barry Fraser said. “The company has delivered consistent growth since being established in 1983, and we are looking forward to working with the management team to help deliver their strategy in the years to come.”
Photo courtesy of Gael Force Group
