Marine power innovator announces crowdfunding campaign
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Orbital Marine Power Ltd is to provide the opportunity to become a shareholder in its pioneering renewable energy business through the Crowdcube investment platform.
Orbital, UK-based developers of the world’s leading floating tidal turbine technology, is crowdfunding to support future looking commercial activities and ongoing development of its innovative technology within the rapidly growing global market for low-carbon energy, which is estimated to see over £8 trillion invested in new renewables by 2050.
The company is nearing completion of its fully funded first commercial 2MW unit, the Orbital O2, which will be installed in the waters off the Orkney Islands early next year, where it will become the world’s most powerful operational tidal turbine.
Designed to generate significantly more power than its predecessor, the O2 will be capable of meeting the electricity demand of over 1700 UK homes every year. The O2 is the culmination of a world leading development programme which saw Orbital achieve the first ever grid connected floating tidal turbine in 2011 before going on to deliver its record breaking 2MW prototype system.
Speaking of the crowdfund, Orbital’s chief executive Andrew Scott said: “At Orbital we see our technology playing an important role in the world’s transition to sustainable living, and that presents a hugely exciting opportunity for us as a business. So, we are delighted to offer the opportunity for new shareholders to join us on our trailblazing journey and help us turn the tide on climate change.”
Anyone interested in the opportunity can find out more information at
https://invest.orbitalmarine.com/
The crowdfunding initiative coincides with the unveiling of Orbital's futuristic tidal and river turbines, created in partnership with Designworks, BMW Group’s advanced design company.
Orbital recently completed a world record delivery of over 3.2GWh of tidal steam power to the UK grid.
Its current production turbine, the Orbital O2, is set to increase this low carbon power generation capacity further when it launches in 2021.
World renowned design innovation company Designworks has studios in Munich, Los Angeles and Shanghai. For more than 25 years its strategic design has stimulated the BMW Group as well as a select group of partner companies, creating designs that help them stay at the forefront of their industries.
The collaboration uniquely combines Orbital’s deep engineering and marine experience, with Designworks expertise in design strategy and advanced simulation modelling.
Starting with large utility turbines, the two teams looked at how advancements in hydrodynamic performances, cost engineering and advanced production methods will influence the design of tidal turbines in the future. Streamlined systems in connected grid arrays are forecast to yield greater efficiencies in cost with increasing operational autonomy. Indeed, the vision for the OA model sees turbines becoming less like traditional vessels, and more akin to autonomous power generation fleets in the future.
The vision work also developed a smaller Riverkinetic turbine tailored to communities with a need for greater energy independence. Lighter in weight and readily transportable the design and engineering team envisioned a quiet and clean design, in contrast reference to the diesel generators relied on by so many people in remote locations today.
Mr Scott said: “Our goal is to see our technology deployed across the world to help deliver a cleaner, more sustainable planet” said Andrew Scott, Orbital CEO. “the collaborative work between Orbital and BMW Group Designworks has been an inspirational exercise, an exciting combination of collective experience and talent across the teams”
Holger Hampf, Designworks' president, added: “Orbital’s embrace of strategic design exemplifies the benefit of including design early in the development process.
“It is rewarding to see such significant advances in clean energy, and I hope the resulting design inspires more companies particularly when pursuing benefits to our planet.”
