Orbital Marine Power Raises €8M To Expand Tidal Energy Projects

The funding round includes existing investors such as Scottish Enterprise and new backers PXN Ventures, the combined venture arm of Praetura Ventures and Par Equity. Orbital develops floating tidal turbines that generate clean, reliable electricity from tidal currents, with materials and manufacturing sourced across the UK.

The investment follows recent momentum in Canada, where the Province of Nova Scotia awarded Orbital and Eauclaire Tidal Ltd new tidal energy licences through its 2025 procurement process. Orbital already operates across multiple UK coastal sites from Orkney to the Isle of Wight and its technology is considered among the most advanced in the sector. Built to withstand harsh conditions, the turbines deliver predictable, weather-independent renewable energy.

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Speaking on the investment, Andrew Scott, CEO of Orbital Marine Power, said: “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 organisation that 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”

Orbital Marine Power plans to double its turbine orderbook after securing contracts for difference with the UK Government for a total of 14.4MW at the European Marine Energy Centre in Orkney. The six new turbines will join the existing O2 models collectively supplying enough clean, reliable energy to power around 18,000 homes.

The growing project pipeline represents a major industrial opportunity for the UK with Orbital committing to manufacture roughly £200 million of equipment and keeping 70% of its supply chain domestic. This is expected to create high-quality, sustainable jobs and support the development of a specialised renewable energy sector.

With strong momentum in Scotland, industry experts note that the UK is increasingly positioned to become a global hub for tidal-stream energy, complementing its leadership in offshore wind.

Alastair Moore, Investment Director at PXN Ventures, said: “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.”

Derek Shaw, Director of Entrepreneurship and Investment at Scottish Enterprise, added: “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 sizeable economic benefits of retaining its world-leading position in tidal, while continuing to drive forward our energy transition.”

About Orbital Marine Power

Founded in 2002, Orbital Marine Power is a Scottish renewable energy company developing low-cost, predictable, and scalable floating tidal stream turbines. The company designs and deploys pioneering turbine technology globally, delivering continuous, clean energy while supporting local supply chains, sustainable jobs and the growth of the tidal energy sector.