M-SParc has welcomed a £2.5 million boost from the UK Government as it prepares to expand its Gaerwen campus.

The Menai Science Park says the funding, set out in Wednesday's Budget, will support new facilities and business growth.

Work is already underway on a second building, Egni, which will open next summer providing offices, workshops and laboratories.

Bangor University, which runs M-SParc, says the investment will able them to develop a third building on site and a new centre dedicated to providing STEM (science, technology, engineering and mathematics) opportunities for young people in North Wales.

Pyrderi ap Rhisiart, M-SParc managing director, said: "We’re extremely grateful to the UK Government for recognising the opportunity to invest in innovation, businesses and skills here on in north Wales."

"As we look forward to opening Egni, our second building, in summer 2027, this investment allows us to look even further ahead to the development of a third building on our site."

"Our ambition is to create the space, facilities and support that businesses need to innovate, grow and succeed. With the opportunities presented by the (Anglesey) Freeport and major regional developments, we have a real chance to build something special here."

"Crucially, this investment is also about the next generation. By developing a dedicated STEM centre, we can inspire young people and help ensure that the skills and opportunities created by investment in our region benefit our communities for decades to come."

Since first opening in 2018, more than 180 jobs have been created at M-SParc through both its tenants and staff, along with around 100 internships and work placements.

So far, it's attracted around £7m in investment to the region and the campus is aiming to benefit further from its location within the Anglesey Freeport scheme.

The funding, announced on Wednesday, will support the fit-out of the new Egni building - which has been funded through the North Wales Growth Deal - along with its dedicated STEM facility, as M-SParc extends its capacity to support small and medium-sized enterprises (SMEs).

Stephen Kinnock, Welsh Secretary of State, said: "This UK Government funding is an investment in the skills and infrastructure that are needed to create more high-quality jobs on Anglesey."

"M-SParc is already established as a place where research and business come together to drive economic growth."

"This £2.5 million investment from the UK Government will push that further, building on the opportunities provided by the Anglesey Freeport and our record £2.5bn investment in nuclear."

Plans for the third building at the Gaerwen campus include additional space for industry, including specialist workshop facilities to support advanced manufacturing, clean energy technologies and innovation.

Professor Edmund Burke, Bangor University's vice-chancellor, added: "This investment will contribute towards North Wales' capacity for innovation, entrepreneurship and skills development at a pivotal time for the region." 

"By supporting the growth of M-SParc and creating new opportunities for businesses and young people, it will help ensure North Wales is well placed to benefit from emerging opportunities in areas such as energy, advanced technologies and the Anglesey Freeport."

"The long-term success of our region depends on connecting talent, research and enterprise, and this investment will play an important role in achieving that ambition."