The Oceanium Limited business, producing farmed seaweed-derived bioactive and food ingredients, has been acquired by Juno Mara Limited following an independent marketing process.
Scottish seaweed company placed into administration (Image: Getty Images)
James Fennessey and Blair Milne, of Azets’ Restructuring & Insolvency in Glasgow, were appointed joint administrators after the firm was “unable to secure the funding required to continue operations”.
The firm’s website said it was creating “the first marine bioactive derived from sustainably farmed seaweed”, skincare formulations and biodegradable, water-based ink derived from seaweed for textile, printing, and packaging applications, “offering a unique,…