Orbital Marine Power

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

2002

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

Date	Approach	Development
January 2019	Agreement	Abundance (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 2018	Agreement	Orbital 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 2018	Product Development	Orbital 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 2018	Agreement	Orbital 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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