The UK government is releasing an additional £30 million (€34 million/$36 million) in grant funding to boost the country's seafood infrastructure projects following its exit from the European Union.
A £20 million (€23 million/$24 million) government investment has already been earmarked to modernize the country's seafood infrastructure projects. The money is part of a £100 million (€115 million/$119 million) UK Seafood Fund, which was set up in 2021 to support the country's fisheries and seafood sector as it can no longer draw from EU funding schemes following Brexit.
The fund is managed by the Department for Environment, Food and Rural Affairs (Defra).
For this second round of the UK Seafood Fund infrastructure scheme, which opened last week, businesses will have until March 2025 to submit bids.
Companies that received funding during the first round included Denholm Seafoods, which received £3 million (€3.4 million/$3.6 million) to install new equipment to increase its mackerel and herring production, and Mowi Scotland was awarded £2 million (€2.6 million/$2.4 million) for investments in equipment that partly will speed up its processing methods.