Orbital secures £7m to commercialise floating tidal turbines and supply baseload power
This article covers Orbital Marine Power, a tidal energy startup, which has raised £7m in new capital to commercialise its floating tidal turbines and expand internationally after winning new tidal licences in Nova Scotia. The funding is intended to support project delivery, grow the order book and underpin domestic manufacturing plans, with implications for the UK’s efforts to diversify low-carbon power sources and develop a tidal energy supply chain.
Orbital Marine Power has raised £7 million in new capital as it pushes to commercialise its floating tidal turbines and expand internationally after winning new tidal licences in Nova Scotia. The Scotland-based company says the funding will support delivery of its projects, enlarge its orderbook and underpin domestic manufacturing plans — developments that matter for the UK’s push to diversify low-carbon power sources and grow an industrial supply chain for tidal energy.
Why it matters
Tidal energy is predictable and continuous, so technologies that can reliably convert tidal streams into electricity are seen as a potential complement to wind and solar. Orbital’s funding round arrives as the company secures new licences in Nova Scotia and as the UK looks to broaden its renewable mix beyond offshore wind.
The deal also signals a move toward building a larger domestic industrial base: Orbital estimates around £200 million of equipment will be required for its pipeline, with roughly 70% of the supply chain located in the UK. That could translate into long-term, local jobs and export opportunities if projects move from demonstration to commercial scale.
Inside the product
Orbital operates floating tidal turbines that capture energy from ocean currents. Its O2 turbines already operate off the Orkney Islands and the company says its machines are engineered to operate in harsh marine conditions, providing continuous, predictable power regardless of weather.
Key technical and commercial points:
- Orbital has secured contracts for difference (CfDs) for 14.4MW — six turbines — at the European Marine Energy Centre (EMEC) site. These projects will join existing O2 turbines to deliver steady baseload power.
- The combined output is presented as capable of powering around 18,000 homes.
- Manufacturing and materials are sourced domestically, and the company describes a supply chain stretching from Orkney to the Isle of Wight.
- The new Nova Scotia licences were awarded jointly to Orbital and partner Eauclaire Tidal Ltd under the province’s 2025 procurement process, supporting the company’s international commercial ambitions.
Who are the investors?
Orbital’s £7 million round brings PXN Ventures into the shareholder group alongside existing backers including Scottish Enterprise. PXN Ventures is described as the combined VC arm of Praetura Ventures and Par Equity and is named in the announcement as joining to support Orbital’s commercial tidal-stream projects.
In the announcement, 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.
Also contributing further investment, and highlighted as a long-standing co-investment partner, was Scottish Enterprise. In the announcement, Derek Shaw, Director of Entrepreneurship and Investment at Scottish Enterprise, said:
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.
The investor rationale emphasises industrialisation of tidal technology, export potential following the Nova Scotia licences, and contribution to grid stability through predictable generation.
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Founder perspective
In the announcement, 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 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
Scott’s comments underscore two priorities for the business: scaling project delivery for commercial volumes and securing the industrial capacity to manufacture machines at scale.
The bigger picture
Orbital’s funding and export traction fit into a wider push to diversify the UK’s renewable mix and to capture domestic economic value from low-carbon infrastructure. If the company can translate licences and CfDs into deployed machines and repeatable supply chains, tidal technology could become a modest but reliable source of baseload renewable power.
The deal also reflects growing interest from energy investors in technologies that offer predictable generation profiles. For the UK and parts of northern Europe with strong tidal resources, developing a homegrown tidal industry offers both energy security and potential export revenues — provided projects clear the technical, consenting and financing hurdles that have slowed marine energy in the past.
This development therefore matters beyond a single company: it is part of a broader test of whether the UK can build an industrial pathway for tidal energy that complements its offshore wind leadership and supports regional jobs and exports across the European market.
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