A Scottish tidal energy firm has secured £7 million from private investors to help develop its floating turbine system in a show of faith in the renewable technology. Orbital Marine Power raised the money by issuing debentures in an offer which won support from around 2,300 individual backers. The average investment was around £3,000. Investors in Scotland put in £4,500 on average. The money raised was in line with the target set when Orbital launched the debenture issue on the Abundance crowdfunding platform.
Herald 11th Jan 2019 read more »