Orbital Marine to showcase UK’s tidal power prowess at Global Investment Summit

The UK government has unveiled the 12 businesses from across the UK who will showcase their green technology and innovations at the Global Investment Summit – one of which is the Scottish-based tidal energy company Orbital Marine Power.

Hosted by the UK Prime Minister and supported by members of the Royal Family, the summit will demonstrate Britain’s commitment to green industrial revolution in the UK and abroad ahead of COP26, and promote the UK as a top destination for foreign investment.

Around 200 investors attending the summit will see the latest cutting-edge innovation that is helping deliver key areas of the Prime Minister’s Ten-Point Plan, helping cement the UK’s position as a science superpower and the world’s number one centre for green technology.

The country’s pioneering work in this space will be vital in helping reduce emissions and limit the rise in global temperatures.

The showcase will demonstrate major leaps forward in renewable energy such as the tidal turbine technology pioneered by Orbital Marine Power, as well as advancements in other green technologies.

Andrew Scott, Orbital Power’s CEO, said: “We are delighted to be given this amazing platform to showcase the innovative technology we pioneered here in the UK and to share our vision of how tidal stream energy can play a part in turning the tide on climate change”.

Gerry Grimstone, UK minister for investment, added: “Our Global Investment Summit will put UK innovation on the map, and demonstrate how we can use investment to nurture technological developments and propel our economy towards a more prosperous, exciting future.

“These businesses show why the UK is a global hub for green technology – from major advances in tidal turbines and fusion energy, to electric vehicle development and zero emission aircrafts.

“These industries of the future will not only help ensure a cleaner, greener planet but also create high-value jobs across the UK”.

The Global Investment Summit will take place on 19 October 2021.

To remind, Orbital Marine launched its O2 device, deemed the world’s most powerful tidal turbine, in April 2021. The 2MW turbine has since been deployed offshore Orkney in Scotland, and started generating clean power to the UK grid.

More recently, Orbital Marine was selected to lead a pan-European consortium to deliver the €26.7 million FORWARD-2030 project dedicated to accelerating the commercial deployment of floating tidal energy.

The project received the EU’s Horizon 2020 funding to develop a multi-vector energy system that will combine predictable floating tidal energy, wind generation, grid export, battery storage and green hydrogen production.