Orbital Marine Power’s O2 turbine at the Orkney Islands, north of the Scottish mainland, in September 2021. Scotland has become a hub for companies and projects focused on tidal power and marine energy in general.
William Edwards | AFP | Getty Images
Scottish engineering firm Orbital Marine Power said Monday it secured £8 million ($9.64 million) in funding to “finance the ongoing operation” of its O2 tidal turbine, in another step forward for the fledgling tidal power sector.
In an announcement, Orbital Marine Power said £4 million had come from the Scottish National Investment Bank, which was set up by the Scottish government in November 2020. The other £4 million comes from Abundance…