Construction materials business IndiNature plans to open its Borders manufacturing hub next summer and grow its workforce to 30.
The company has developed a natural fibre insulation system using hemp grown in the UK, that can be fitted both in new and retrofit building projects.
The Scottish National Investment Bank is backing the project with a £3 million investment. It will enable the business to scale up production at the Jedburgh facility and target new domestic and international markets.
Eilidh Mactaggart, chief executive of the Scottish National Investment Bank, said: “The bank’s investment in IndiNature supports an innovative Scottish company to build its first factory and help to accelerate the transition of the construction industry to net zero.
“Decarbonisation of the industry is a critical element of Scotland’s journey to net zero. IndiNature’s innovative natural fibre insulation supports this journey in two clear ways, increasing energy efficiency of buildings and storing carbon within the insulating material itself.
“It was clear through working with IndiNature its products fundamentally supported the delivery of the Bank’s missions. The bank’s patient capital can help the company to achieve its growth aspirations, with positive economic and environmental benefits for Scotland as a result.”
At capacity, the new site will be able to capture a net 10,500 tonnes CO2/year, meaning that by 2050 the factory will have the equivalent impact on the climate crisis as planting more than five million trees.
Scott Simpson, co-founder and chief executive of IndiNature, said: “It feels great that we can move forward to create local Borders jobs and make insulation on scale in Scotland.
“The demand for local, natural alternatives in construction is increasing. At IndiNature we love using crops from UK farmers – it’s so critical the world moves faster toward what’s known as the circular bio-economy by using plants in products, to reduce waste and naturally capture carbon.”