Hello and welcome to our daily digest of business, financial and economic news from around Scotland.

1. The world’s largest offshore floating wind farm is to be built off northeast Scotland.

Consent has been granted for the £3 billion Green Volt project to move forward. The development is a joint venture between the Scottish company Flotation Energy and Vargronn, a Norwegian firm.

The 560 megawatt capacity wind farm will have 35 turbines off the Aberdeenshire coast. That would be much larger than the 11-turbine, 88MW Hywind Tampen off Norway which is the largest floating wind farm at present.

Green Volt is expected to delivery renewable electricity to North Sea oil and gas platforms as well as into the UK grid.

2. A third new distillery in Campbeltown has been approved, underscoring the renaissance in spirit-making in the area.

R&B Distillers said that planning permission has been granted by Argyll & Bute council for the Machrihanish Distillery. The company intends to start construction this year and will also build a tourist attraction, shop and tasting room on the land at Dhurrie Farm.

R&B already owns the Isle of Raasay Distillery and today announced it has taken a majority stake in Caskshare, the online spirits marketplace.

William Dobbie, the managing director, said the new distillery and expansion at Raasay would mean about £10.5 million of investment and added: “The rubber stamp for the distillery marks a major milestone on our journey in Campbeltown.”

The Dal Riata distillery, on the banks of Campbeltown Loch, and Witchburn, in Machrihanish, were granted planning permission last year, the first new distilleries in the area for more than a century.

In a separate whisky announcement the Borders Distillery Company in Hawick has agreed a £35 million funding package with Ferovinium which will help it expand into new markets.

Meanwhile, the Cabrach Distillery, a social enterprise on Speyside, is on course to open this summer having just taken delivery of its coppers stills.

3. Fusion Assets has submitted a planning application to build a £10 million industrial hub at Ravenscraig.

The blueprint proposes a range of buildings which could be occupied by businesses of various sizes on a seven-acre site.

Fusion was set up by North Lanarkshire council to promote regeneration and economic development in the area. Russell Wilkie, the director at Ravenscraig Limited, suggested the new buildings would offer quick access to the M74 and M8.

4. A marketing technology firm has received £2.5 million of investment from Business Growth Fund.

Hyble, based in Edinburgh, plans to use the money to help its push into the United States.

The company helps brands to create bespoke digital and physical marketing materials quickly and simply. Its customers include Pernod Ricard, Southern Glazer’s Wines and Spirits, Diageo and Bacardi.

Euan Baxter, from BGF, sits on the Hyble board and pointed out this was the fund’s second investment in the business after initially putting £2.6 million in during 2020.

5. The British Business Bank has said its investment fund for Scotland has agreed £5 million of deals in the six months since it was launched.

The fund, targeted at growing small businesses, has agreed transactions across a wide range of sectors. It offers loans of between £25,000 and £2 million while equity investments can go up to £5 million.

Elanic Clinic, a cosmetic surgery group, Panther M*lk, which makes oat milk cocktails, and John Young Group, a graphic design consultancy, are among those which have received backing.