Wantstats
Company ProfilePremium

Orbital Marine Power

Company Profile Analysis

Book DemoRegister Your Interest
ESOMAR 23 Corporate BadgeISO Certifications Badge
Orbital Marine Power - Energy & Power showcase

Year Founded & Workforce

2002

30 Employees

Industry

Energy & Power

Services

Tidal Energy
O

Orbital Marine Power Employee Contacts

We don't hold contact details for this company yet — you can request them.

Request Employee Contacts

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

Unlock Company Financials

Unlock this company profile to view its financial data.

View Subscription Plans

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

Unlock Company Contacts

Connect with Key Decision-Makers

Access verified employee contacts and decision-maker information from this company to support your sales, lead generation, and business development efforts.

Get Contacts →