Abundance has raised £7million for Orbital Marine Power and the world’s most powerful tidal stream turbine. This year looks set to be a top year for green and social investment as the UK’s leading peer-to-peer ethical investment company Abundance starts the year closing its largest fund raise to date, raising £7 million for innovative Scottish tidal energy company Orbital Marine Power (Orkney). Orbital Marine Power (formerly Scotrenewables Tidal Power) will use the funds raised to build its first production model Orbital O2 2MW turbine, an innovative floating tidal turbine platform that can be towed, installed and easily maintained. The project already has secured a number of supporting grants as well as equity funding, including from the Scottish Government.
Ecologist 15th Jan 2019 read more »