Orbital Marine Power

Orbital Marine Power (formerly Scotrenewables) is a Scottish developer of tidal turbine technology. The company uses floating vessels, which are moored in powerful tidal streams or river currents, allowing the underwater rotors to capture the flow and convert it to energy.

Orbital Marine Power’s lineup of products includes the SR2000 and the O2, with the 2 MW O2 claimed to be the most powerful tidal turbine in the world. The O2 is currently anchored in the Fall of Warness at the European Marine Energy Center (EMEC), providing energy to the local electricity grid of Orkney via subsea cables. It is a 74 m long floating superstructure, that supports two 1 MW turbines on either side for power output of 2 MW. It is capable of generating enough electricity to meet the demand of ~2,000 UK homes. 

Key customers and partnerships

Orbital Marine Power’s tidal turbine tech was developed through a strategic partnership with Designworks. The project was also backed by the EU’s Horizon 2020 research and innovation program under the FloTEC (Floating Tidal Energy Commercialisation) project. 

In March 2023, Orbital was awarded an option agreement from Crown Estate Scotland for a new 30 MW tidal energy project in the Westray Firth. Under this, the company would deploy 12 Orbital devices. In October 2023, Orbital Marine was selected by the European Commission's Horizon Europe Programme to deliver a multi-turbine tidal energy project known as the European Tidal Energy pilot farm focused on Industrial Design, Environmental Mitigation, and Sustainability (EURO-TIDES). In December 2023, Orbital Marine was named Euclaire Tidal’s technology partner at the Fundy Ocean Research Centre for Energy, which required the deployment of one 2.4MW O2X machine.

Funding and financials

In September 2023, Orbital Marine secured GBP 8 million (~USD 10.1 million) in funding from the Scottish National Investment Bank and individuals via the Abundance Investment platform. The company intended to use the funds to continue the operation of the O2.

Prior to this, in July 2022, the company secured GBP 8 million (~USD 9.6 million) in a debt financing round. Half of the funds were provided by the Scottish National Investment Bank, while the other half has been financed via individual investors. The funds raised were to be used for financing ongoing operations, while the debt was expected to be serviced by money raised via the long-term sale of electricity to the grid.