Highlands and Islands Enterprise (HIE) Takes Full Ownership of Orkney Research and Innovation Campus
Highlands and Islands Enterprise (HIE) has acquired complete ownership of the Orkney Research and Innovation Campus (ORIC) in Stromness, Scotland, following the transfer of Orkney Islands Council’s (OIC) share in the joint venture (JV).
The move comes as ORIC prepares for a second phase of development supported by a £2.8 million funding package from HIE and OIC. The expansion aims to add office and study space to the 3.75-acre campus, which currently houses clean energy and low-carbon research facilities, including the European Marine Energy Centre (EMEC), Aquatera, and academic institutions. Additional funding is being sought from the UK Government under the Islands Growth Deal.
Established in 2018, ORIC was initially a multi-million-pound partnership between HIE and OIC, transforming former school buildings into a renewables research hub. The change in ownership now consolidates governance under HIE, positioning them to lead the campus’s future growth.
“ORIC has been incredibly successful as a joint venture between OIC and HIE, creating a dynamic environment for tenants, supporting high-quality jobs, bolstering Orkney’s global reputation in renewable energy, and repurposing historic properties in Stromness,” stated Stuart Black, Chief Executive at HIE.
“As we look towards the next phase of the project and seek to maximize the opportunities presented by the Islands’ Growth Deal, it was mutually agreed between HIE and OIC to implement a more streamlined ownership structure.”
Black emphasized that the streamlined governance and operational framework will enhance ORIC’s future growth and continue to support the organizations, projects, and individuals based at the campus. Existing tenants will experience no disruptions, as HIE plans to collaborate with OIC and other partners on future developments.
“The Orkney Research and Innovation Campus plays a vital role in Orkney’s business and research sector, and we are fully committed to closely collaborating with HIE and ORIC to ensure its sustained success,” added Oliver Reid, Chief Executive at Orkney Islands Council.
“This change in the investment model opens up new avenues and opportunities for ORIC as it progresses into the second stage of its development, and we eagerly anticipate its future evolution.”
In 2022, HIE and Orkney Islands Council allocated a funding package of £2.8 million (€3.1 million) towards the second phase of ORIC’s development.
In a separate development in 2023, Orkney Islands Council initiated a tender process for a contractor to take ownership of and dispose of the wave energy device Pelamis P2.
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