Orbital Marine Power has secured a £7 million investment to accelerate the commercial rollout of its floating tidal-stream technology and support international project development following major new opportunities in Canada. The round includes participation from PXN Ventures, which joins existing shareholders such as Scottish Enterprise.
The funding follows the Province of Nova Scotia’s decision to grant Orbital and Eauclaire Tidal Ltd new tidal energy licenses through its 2025 procurement process. With fresh capital and expanded project rights, Orbital plans to significantly advance its commercial pipeline and scale the deployment of its O2-class turbines.
Orbital is currently working across multiple coastal sites in the United Kingdom, including Orkney and the Isle of Wight, with a technology platform engineered to operate in the harshest marine environments. The company emphasizes domestic sourcing, manufacturing, and supply chain development throughout the UK. Its existing O2 turbines already operate at the European Marine Energy Centre and additional contracted turbines will increase the portfolio to six units delivering a combined 14.4 MW.
According to the company, this expansion is expected to double its turbine orderbook and enable predictable clean energy sufficient to power up to 18,000 homes. Orbital projects an industrial opportunity estimated at £200 million, with approximately 70 percent of the value anticipated to be delivered through UK suppliers. The company expects the growth of its tidal projects to contribute to job creation, domestic economic value, and strengthened renewable energy leadership across Scotland and the broader UK.
PXN Ventures stated that its investment reflects growing confidence in tidal-stream energy as part of the future energy mix. Scottish Enterprise also increased its commitment to Orbital through this round, reinforcing long-standing support for the sector’s commercialization. Additional non-dilutive funding has been provided by Highlands and Islands Enterprise to support local supply chain development aligned with Orbital’s commercial plans.
Founded in Scotland, Orbital aims to position the UK as a global center of excellence in tidal energy as electricity demand continues to grow. The company believes that its floating turbine technology offers a cost-effective, scalable path for delivering base load renewable energy from predictable tidal currents.
KEY QUOTES
“We are delighted to see Orbital Marine Power embark on its newest chapter of growth. We warmly welcome PXN Ventures as our new investor, an organization who shares our vision and passion for Orbital’s role as a clean energy leader. We’re excited to advance the delivery of commercial tidal stream projects whilst driving a meaningful transition to a more sustainable future. We also greatly value the continued support and investment from Scottish Enterprise in this round, which has been instrumental in enabling this partnership to happen”
Andrew Scott, CEO of Orbital Marine Power
“It is an incredibly exciting time to be joining Orbital Marine Power as an incoming investor. The business is paving the way for tidal stream energy to form part of the energy mix and is another fantastic example of the world-leading innovation coming out of Scotland. As electricity demand increases, Orbital has an important role to play in providing base load energy to grids at home and abroad, and we’re delighted to push them closer to delivering this.”
Alastair Moore, Investment Director at PXN Ventures
“Tidal energy is one of Scotland’s most exciting opportunities, and Orbital Marine Power is driving the sector forward with world-leading technology. We’re proud to back the business with further investment and are delighted to welcome new investment from PXN Ventures, one of Scottish Enterprise’s long-standing co-investment partners. By investing in such innovation, we can help Scotland reap the sizable economic benefits of retaining its world-leading position in tidal, while continuing to drive forward our energy transition.”
Derek Shaw, Director of Entrepreneurship and Investment at Scottish Enterprise
