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PRESS RELEASE: Orbital Marine Power and SKF awarded funding to deliver performance improvement technology
Orbital Marine Power and SKF awarded €1.2m (UK£1.07m) funding to deliver performance improvement technology for tidal energy turbine.
ISSUED 31/10/2018. Leading Scottish tidal turbine developer, Orbital Marine Power, together with global drivetrain solutions provider SKF have been awarded research funds totalling €1.2 million (UK£1.07m) by the European Ocean Energy ERA-NET Cofund to support a pitch controller project that will improve the performance of Orbital Marine’s floating tidal turbine. TOPFLOTE, “Targeted Optimal Pitch module for Floating Tidal Energy”, will deliver a controller for floating...
Scotrenewables renames as Orbital Marine Power
in reference to the moon’s orbit and reliable tidal power ISSUED 15/10/2018. Scotrenewables Tidal Power Limited today announces a comprehensive company-wide rebranding to Orbital Marine Power Ltd (“Orbital Marine” the “Company”). The new name is inspired by the orbital cycle of the moon around the earth, the reliable provider of tidal energy. Speaking about the rebranding, Andrew Scott, CEO, said: “After a comprehensive exercise, we are really pleased to introduce our new brand identity, and to do so at such an exciting time for the business, as we begin the build of our...
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...
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...