(SCOTLAND)

A multi-million pound fund to support manufacturing companies advance their circular economy ideas has been launched in Scotland.

The £18 million pot – which will be managed by Zero Waste Scotland – is a further sign of Scotland’s commitment to sustainability. Earlier this year it picked up the Circular Government Award at the Circulars and it was the first country to sign up to the Circular Economy 100 (CE100) club: a programme administered by the Ellen MacArthur Foundation.

This latest initiative, which will be delivered through Zero Waste Scotland’s Circular Economy Investment Fund, is targeted at SMEs based in Scotland. Innovative manufacturing businesses can access up to £1 million to help transform the sector.

Iain Gulland, Chief Executive, Zero Waste Scotland, said: “Scotland’s manufacturing sectors are of huge importance to the Scottish economy and are ideally placed to help drive more circular business practices that set Scotland up for a more profitable and sustainable future.

“This is an opportunity to gain financial support for innovative new ideas that generate growth, as well as driving a more circular economy in Scotland. There are huge potential benefits for both the businesses themselves and the country as a whole, and we at Zero Waste Scotland are keen to hear from businesses with transformational ideas.”

The Scottish Government and the European Regional Development Fund (ERDF) are both investing in the project.

Bryan Buchan, CEO, Scottish Engineering, added: “The advent of circular business models presents exciting opportunities for Scottish manufacturers. The engineering sector has the expertise to really lead in this area and should be able to take advantage of this. With the funding and support currently available from Zero Waste Scotland to explore new business possibilities, I would urge our members to get in touch.”

For more information and how to apply, click here.