Chairman Ed Gillespie said this would now bring the total phase one funding to 700,000, which would be used to finance research and the initial stages of the project's environmental and planning approval process.
Gillespie said it was good to see the project forging ahead. It is seeking phase two funding of between 5m-10m (PrintWeek, 16 June).
A recruitment programme to find a management team to take charge of the project is already underway.
Construction at the plant in Invergordon is scheduled to commence in 2006, and it is hoped that the project will be fully operational
in 2008.
Forscot funds rise to 700k
Forscot has secured further equity funds, completing phase one funding of its 1bn integrated pulp and paper mill project.
