Orbital Marine Power | Press Releases

PRESS RELEASE: Orbital Marine Power announces Abundance public debentures offer

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Orbital Marine Power announces Abundance public debentures

offer to deliver floating Orbital O2 2MW  tidal turbine ISSUED 16/10/2018. Orbital Marine Power Ltd (formerly named Scotrenewables Tidal Power Ltd) today announces the launch of a public debentures offer via the Abundance Investment platform. The offer signals progression towards commercialising the company’s world leading floating tidal technology. The debentures, targeting a raise of £7m, will be used to support the build of the company’s first commercial turbine product – the Orbital O2 2MW – this is an optimised variant of the 2MW SR2000 which recently completed a highly successful year’s test...

PRESS RELEASE: NEW INVESTMENT IN PREPARATION FOR NEW TURBINE BUILD

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NEW INVESTMENT IN PREPARATION FOR NEW TURBINE BUILD

TECHNOLOGY INVESTOR MATT MCGRATH AND INDUSTRY LEADERS TO JOIN BOARD OF DIRECTORS. ISSUE DATE: 26/09/18 Scotrenewables welcomes new investment and director appointments ahead of starting a new turbine build which will see an optimised 2MW floating turbine installed at the European Marine Energy Centre in Orkney. The multi-million pound investment is led by a private investor group including the McGrath family, sector leader Matthias Haag as well as ongoing public sector support through the Scottish Government’s Energy Investment Fund. As an award winning technology developer and investor Matt McGrath brings significant business...

PRESS RELEASE: SCOTRENEWABLES TIDAL POWER COMMENCES SITE PREPARATION FOR COMMERCIAL PRODUCTION UNIT

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Record breaking SR2000 turbine to be recovered from European Marine Energy Centre in Orkney ahead of site preparations for optimised production model. In a move to start site preparation work for their optimised 2MW floating tidal turbine, Scotrenewables Tidal Power have started work to remove the SR2000 turbine from its test berth at EMEC.  The SR2000’s withdrawal from service at EMEC follows a record breaking year of testing which saw it generate in excess of 3GWh of renewable electricity.   CEO Andrew Scott said: “The last 12 months have provided unrivalled validation of our engineering and, more importantly, our...

PRESS RELEASE: SCOTRENEWABLES TIDAL CLOCKS RECORD LEVEL OF POWER GENERATION

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Tidal stream prototype generates 3GWh of predictable renewable electricity in under 12 months

at European Marine Energy Centre in Orkney Scotrenewables Tidal Power has set another record with its first 2MW floating tidal stream turbine with the unit clocking up over 3GWh of renewable electricity in its first year of testing at the European Marine Energy Centre (EMEC) in Orkney, Scotland.  In 12 months of continuous operation, including during the worst winter storms in recent years, the pioneering SR2000 – the world’s most powerful operating tidal stream turbine - has supplied the equivalent annual electricity demand of around 830 UK...