Salmon farm scales up after £1.2m HSBC boost

A Scottish salmon farm has modernised its operating processes after securing a £1.2 million funding boost from HSBC.

The funding will allow Loch Duart to focus on innovative, sustainable farming methods. Picture: Contributed

Loch Duart, which exports salmon globally and supplies to Michelin-starred chefs, has used the seven-figure investment to buy new feed barges.

These will provide a “reliable, efficient” means of feeding the farm’s fish, in addition to freeing up time for employees to spend on developing innovative and sustainable farming methods.

Sign up to our daily newsletter

The i newsletter cut through the noise

Loch Duart, which has around 115 staff, owns and operates eight sea sites and two hatcheries in Sutherland and the Outer Hebrides.

Financial director Simon Maguire said: “The new barges improve the safety of our staff, which is a priority for us, and enables them to take on more skilled work within the company. The funding from HSBC UK has enabled us to take a natural next step in enhancing our processes as we look for opportunities to grow the business and broaden the supply of our award-winning salmon.”

The deal is part of the lender’s £650m fund to support small Scottish businesses.

Grant Bett, Relationship Director, HSBC UK in Scotland, said: “The team at Loch Duart continues to innovate, finding new ways to streamline the business and prioritise its staff as the key employer in the local communities. We’re delighted to support this next step for what is a truly ambitious Scottish business, with an excellent success story.”