Orbital Marine Power has entered into a strategic partnership with TechnipFMC to accelerate the commercialization of its tidal energy technology.
As part of the agreement, the technology company TechnipFMC will also become a shareholder in Orbital and will contribute its experience in the implementation of integrated offshore energy projects.
The companies will now work together to accelerate the scaling and deployment of orbital enabling technology in tidal energy projects.
Andrew Scott, Orbital’s Chief Executive Officer, said, “This TechnipFMC partnership is a turning point for Orbital and the entire sector. It represents a significant milestone in increasing company value over the long term and confirms our approach and our proven track record.
“Working with this leading offshore energy integrator will accelerate global adoption of our innovative technology and help commercialize our unique vision for tidal energy.”
Scotland-based Orbital recently completed the construction and installation of the O2 tidal current turbine in the waters off the Orkney Islands, Scotland. It has been exporting low-carbon electricity to the UK grid since July 2021.
Luana Duffe, Executive Vice President, New Energy Ventures at TechnipFMC, commented, “We are very excited to be working with Orbital in the tidal energy market. With their technical know-how, their differentiated turbine technology and our integrated operating model, we can expand our combined offer in order to bring more renewable energies to the market. “
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