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Energy & Power

Orbital Marine Power

Company Profile Analysis

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Orbital Marine Power - Energy & Power showcase

Year Founded & Workforce

2001-12-31

30 Employees

Industry

Energy & Power

Services

O

Orbital Marine Power Overview

Company Headquarters: Orkney, UK

Founded: 2002

Workforce: ~30

Company Working: In October 2018, Scotrenewables Tidal Power Limited was renamed as Orbital Marine Power. Its manufacturing facility is based in the UK.

Orbital Marine Power is involved in the business of fabricating, assembly, installation, operation, maintenance, and decommissioning of floating tidal technology. After nine years of R&D, it launched its first prototype in 2011, following which it has been receiving substantial investments from investment companies for the development of the technology. For instance, in January 2019, the company raised funds of about USD 8.26 million through crowdfunding. These funds will be used to build its tidal stream turbine commercially.

Strategy

Orbital Marine Power focuses on product development and, over the past decade, has invested in developing floating tidal equipment. It has been receiving substantial grants in the past decade, which has boosted the development process of its technologies. The company is currently working on commercially producing its tidal turbines. Due to its strategies, it is expecting to garner substantial revenue in the next few years

Company Snapshot

30

Employees

2001-12-31

Founded

Orkney, UK

Headquarters

SWOT Analysis

Strengths

  • Strong support from European organizations for product development

Weaknesses

  • Focused only on the UK and surrounding countries for sales

Opportunities

  • Increasing demand for innovative power generation technology from North America

Threats

  • High frequency of storms in the North sea

Key Developments

DateApproachDevelopment
January 2019AgreementAbundance (UK), an investment company, raised USD 8.26 million through crowdfunding for Orbital Marine Power. The funds will be used for the commercial production of its Orbital 02 2 MW. This is expected to increase the company’s market share during the next few years.
December 2018AgreementOrbital Marine Power signed an agreement with Menter Môn (UK) to provide a commercial scale tidal array of its product, Orbital 02 2 MW, for the Morlais Tidal Energy Project in the UK. This agreement is expected to boost its market share in Europe, substantially
November 2018Product DevelopmentOrbital Marine Power introduced the design of its Orbital 02 2 MW, which will be commercially produced. This has attracted both, clients and investors for the company.
October 2018AgreementOrbital Marine Power and SKF (Sweden) were awarded a grant of USD 1.4 million by the European Ocean Energy ERA-NET Cofund to develop a pitch controller used in Orbital’s floating tidal turbines. This is expected to increase the efficiency of the product.

Product Offering

  • Orbital Marine Power
    • Tidal Energy

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About the Author

Wantstats Research Team

Wantstats' research desk profiles Orbital Marine Power as part of our ongoing coverage of the Energy & Power sector, drawing on public company data, filings, and market intelligence.

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Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Noah Malgeri

Co-Founder, Mojave Rail Fabrication Limited

This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Orbital Marine Power

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