Orbital Marine has entered into a strategic partnership with TechnipFMC (NYSE: FTI) (PARIS: FTI).
The companies will now work together to accelerate the market scale-up and deployment of Orbital enabling technology in tidal energy projects.
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 Orkney. It has been exporting low carbon electricity to the UK grid since July 2021.
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.”