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Statement on SALTIRE TIDAL ENERGY CHALLENGE FUND

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The Scottish Government has launched a £10 million fund to support commercial deployment of tidal energy generation in Scottish waters through driving innovation and reduction in the cost of electricity generated.   Responding to the announcement, Andrew Scott, CEO of Orbital Marine said:

“The tidal industry is at an exciting point; nowhere else in the world are thousands of homes being powered from predictable, renewable tidal stream energy other than Scotland. This achievement has been the result of a lot of hard work and commitment over the years from both Scottish Government and the industry. 

As a Scottish technology developer who...

PRESS RELEASE: Abundance closes largest investment to date for Orbital Marine Power, raising £7 million for world’s most powerful tidal stream turbine

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Orbital Marine Power (Orkney) will fund construction of the UK’s first floating tidal stream turbine to go into commercial production. c2,300 individual investors invested an average of c£3,000, with over half investing via their ISAs for a tax-free return. Particularly strong support from investors in Scotland, investing the highest average amount at £4,500 each. Full £7 million target achieved on January 1st.

The UK’s leading peer-to-peer ethical investment company Abundance has closed its largest fund raise to date, raising £7 million for innovative Scottish tidal energy company Orbital Marine Power (Orkney).

Orbital Marine Power (formerly Scotrenewables Tidal Power) will use the...

Orbital Marine Power scoops Best Innovation Award 2018

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At the Scottish Green Energy awards in Edinburgh last night (Dec 6th), Orbital Marine Power’s pioneering SR2000 tidal turbine scooped the Best Innovation Award after generating more power in one year than had been produced by Scotland’s entire wave and tidal energy sector in the 12 years prior to its launch.  Andrew Scott, Orbital Marine Power’s CEO said: “It’s fantastic news that the judging panel selected us to win this prestigious award from a very high quality shortlist. It’s great recognition for the Orbital Marine team which has worked so hard over the years to deliver a new, truly innovative...

PRESS RELEASE: Orbital Marine Power signs agreement with Menter Môn for Anglesey tidal array project.

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Anglesey has received a further boost to its ambition to become a centre of excellence for tidal stream energy as Orbital Marine Power, the leading Scottish based tidal technology developer, has signed an agreement to demonstrate its award-winning floating tidal technology at the Morlais Tidal Energy Project.

The agreement with Menter Môn, the not for profit developers of the project, would see a commercial scale tidal array of Orbital’s recently unveiled ‘O2’ 2MW tidal turbine which Orbital believes will be the most powerful tidal generating platform in the world.   Each 2 MW unit is capable of producing...