Release date: 12 December 2021
Orbital Marine Power (Orbital) has established a strategic partnership with TechnipFMC (NYSE: FTI) (PARIS: FTI) to accelerate the global commercialisation of Orbital’s pioneering tidal energy technology. TechnipFMC will also become a shareholder in Orbital.
Scotland-based Orbital has developed innovative floating tidal technology capable of cost-effectively harnessing predictable, clean energy from flowing currents. The company recently completed the construction and installation of the world’s most powerful tidal stream turbine, the O2, in the waters off the Orkney Islands, Scotland. It has been exporting low carbon electricity to the UK grid since July 2021.
TechnipFMC is a leading technology provider to the traditional and new energy industries with a proven track record of successfully delivering large-scale, fully integrated offshore energy projects to customers around the world.
The companies will now work together to accelerate the market scale-up and deployment of Orbital enabling technology in tidal energy projects. As a growing renewable business, Orbital is uniquely placed to unlock an entirely new part of the floating offshore energy sector, complimenting global net zero transition targets. Its proven low-cost construction and maintenance model and rapid installation processes will be key to that growth.
Andrew Scott, Chief Executive Officer at Orbital, said: “This TechnipFMC partnership is a game changer for Orbital and the wider sector. Representing a significant milestone in growing the long-term value of the company, it validates our approach and proven track record of delivery.
“Working with this leading offshore energy sector integrator will accelerate global adoption of our innovative technology and support the commercial roll out of our unique vision for tidal energy.”
Luana Duffe, Executive Vice President, New Energy Ventures at TechnipFMC, commented: “We are very excited to collaborate with Orbital in the tidal energy market. With their technical expertise and differentiated turbine technology and our integrated operating model, we will be able to scale-up our combined offering to deliver more renewable energy to the market.”
About Orbital Marine Power Ltd.
Orbital Marine Power (Orbital) is a visionary, Scotland-based, renewable energy company focused on the development and global application of its pioneering floating turbine technology.
The culmination of over 15 years of refinement has resulted in the world’s most powerful and advanced tidal stream turbine, the O2, which has been exporting low carbon electricity to the UK grid since July 2021. The O2 is a 2MW+ product capable of being deployed in multi-unit arrays to provide utility-scale, clean energy with almost zero visual impact.
Orbital’s innovative, approach de-risks the commercial extraction of low carbon energy from fast flowing currents by offering low manufacturing and installation costs as well as the ability to carry out inexpensive, quick servicing on all major turbine components through a proprietary structural configuration.
Orbital has an established portfolio of further multi-MW tidal stream projects, focused initially within UK waters, built on a global pipeline of multi-GW opportunities.
The inspiring story of the O2, from concept to power generation, in under two minutes can be viewed here.
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how TechnipFMC are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.