Scotland’s Orbital Marine Power just secured an €8 million investment, and as someone deeply invested in entrepreneurship and clean tech, I see this as a pivotal step, not just for Orbital Marine, but for the entire renewable energy sector. This funding round, led by PXN Ventures with support from Scottish Enterprise, pushes the boundaries of what’s possible in tidal-stream energy. Let’s unpack why this moment matters, what entrepreneurs can learn from it, and where the opportunities lie.
Why Orbital Marine Power Is Gaining Attention
Orbital Marine Power operates the world’s most powerful tidal turbine, the O2. This floating tidal-stream technology generates reliable, weather-independent electricity from ocean currents, a sharp contrast to the intermittency of wind and solar energy. The company’s tech is already producing electricity in Scotland’s Orkney Islands and attracting international interest, including a recent expansion into Canada.
What makes tidal energy so intriguing is its predictability. Unlike solar power, which fluctuates with sunshine, or wind power, which depends on breezes, tidal energy works with the consistent ebb and flow of the ocean. For grids struggling with stability as renewables replace fossil fuels, this kind of energy is a game-changer.
The €8 Million Investment: Where It’s Headed
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Growing Capacity: Orbital plans to use this funding to manufacture six new turbines for deployment at the European Marine Energy Centre. These turbines will collectively power 18,000 homes annually with clean energy, underscoring the scalability of tidal power as a viable energy source.
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International Expansion: With new tidal-energy licenses awarded in Canada’s Nova Scotia province, Orbital aims to step outside its home base and position its floating turbine technology in other key markets.
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Job Creation: High-quality, sustainable jobs will be created across the UK, with 70% of the supply chain kept local. This not only strengthens regional economies but also lays the groundwork for export potential.
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Driving R&D: The company plans to channel part of its resources into furthering innovation in turbine design, reducing manufacturing costs, improving durability, and scaling maintenance solutions.
Lessons for Entrepreneurs
Every founder, regardless of sector, can take home valuable insights from Orbital’s journey. Here’s what stands out:
1. Prove Your Concept Locally Before Scaling Globally
Orbital focused first on producing tangible results in Scotland, leveraging government support and an ideal location for tidal energy. By demonstrating success in one market, they were able to build credibility, attract investors, and open doors internationally, starting with Canada.
2. Think Beyond Single Revenue Streams
Orbital isn’t just selling turbines, they are embedding themselves into the larger ecosystem of clean energy transition. They generate power, secure government contracts, and market their technology to different regions. Diversified revenue streams ensure resilience in the face of changing market dynamics.
3. Leverage Strategic Partnerships
PXN Ventures joined existing stakeholders like Scottish Enterprise and Highlands and Islands Enterprise to make this funding round happen. Entrepreneurs often undervalue strategic partnerships, but these relationships can drive business growth while easing financial and operational pressure.
4. Be Ready with a Clear Plan for Funds
Securing venture capital or grants is only the starting line. Orbital made clear how the €8 million would be allocated, manufacturing, expansion, R&D, and community development. VCs take comfort in knowing their money is tied to well-outlined initiatives.
Common Mistakes that Could Derail Startups
Success stories like Orbital Marine often hide the landmines entrepreneurs step on during their journey. Avoiding these is critical:
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Neglecting to Validate Your Idea
Commercializing highly technical innovations, like Orbital’s turbines, demands years of testing and certification. Skipping these early stages can doom a business. -
Ignoring Government Opportunities
Orbital leveraged UK government contracts to get footholds in competition-heavy markets. Entrepreneurs often fail to scan for subsidies, bid-based contracts, or policy-driven funding opportunities tailored to their industries. -
Losing Control of the Narrative
When a company raises millions, the narrative can spin out of control. Orbital’s CEO, Andrew Scott, remains the constant spokesperson, reinforcing their mission of decarbonization and clean energy leadership. Entrepreneurs must ensure they stay at the center of storytelling.
How to Position Your Business for Sustainability Funding
Investors and governments are prepared to invest heavily in green tech, but competition is fierce. Here is a simple outline to align your venture with funding opportunities:
- Showcase Scalability , Demonstrate how your solution can grow beyond niche applications.
- Prove Environmental Impact , Use measurable data to show your contribution to reducing carbon emissions or waste.
- Partner Locally , Whether through supply chains or strategic stakeholders, emphasize how you’ll support local economies.
- Tie Directly to Policy Goals , Governments are funding based on green mandates. Shape your business model so it aligns seamlessly with these initiatives.
- Look Beyond Equity Finance , Explore grants, loans, and partnerships that don’t dilute ownership while keeping your business growing steadily.
Opportunities Lying Ahead in Tidal Energy
Tidal energy is still in the early stages compared to wind or solar, making it a playground for startups. Beyond turbine creation, complementary opportunities exist:
- Maintenance Services: As more tidal-stream systems launch, companies that handle upkeep or provide monitoring solutions will thrive.
- Storage Innovations: Pairing tidal energy with energy storage systems could unlock potential in regions with outdated grid systems.
- Energy Trading: Entrepreneurs can dive into platforms that let communities trade tidal-generated electricity locally, bypassing traditional grids.
- Marine Ecology Integration: Solutions tying clean energy to the preservation of marine life could be groundbreaking.
Orbital isn’t just developing technology, it’s building the foundation for an entire economic ecosystem around predictable, clean, ocean-powered energy.
With tidal-stream projects attracting millions in investments, the clean energy sector remains one of the most exciting spaces for entrepreneurs. Orbital Marine Power’s story is proof that aligning innovation with regional opportunities and capitalizing on government energy policies can yield big results. Whether you’re in renewable energy or another high-tech field, take the time to study case studies like this one, they are less about their successes and more about the systems they’ve built. The world isn’t just watching; it’s funding the future.
FAQ
1. What is Orbital Marine Power known for?
Orbital Marine Power is renowned for operating the world's most powerful tidal turbine, the O2. It generates reliable, weather-independent electricity by harnessing ocean currents. Visit Orbital Marine Power's official website
2. How much investment did Orbital Marine Power recently secure?
Orbital Marine Power secured an €8 million investment to accelerate its tidal-stream energy projects. This funding supports manufacturing, R&D, and global expansion. Read more on EU-Startups
3. Who led the €8 million funding round for Orbital Marine Power?
The funding round was led by PXN Ventures, with support from Scottish Enterprise and Highlands and Islands Enterprise. Explore PXN Ventures
4. What are the key areas Orbital Marine will focus on with this investment?
The investment will fund four main areas: manufacturing six turbines, international expansion (e.g., in Canada), creating sustainable jobs, and advancing R&D for more efficient turbine technology. Read details in TechFundingNews
5. Why is tidal energy considered significant compared to other renewables?
Unlike solar or wind, tidal energy is predictable due to the consistent ebb and flow of ocean tides, offering stable and reliable energy for grids. Discover more on Marine Technology News
6. Where will Orbital Marine deploy its turbines next?
Orbital plans to install six new turbines at the European Marine Energy Centre in Orkney, capable of powering 18,000 homes annually. Explore details in UK Tech News
7. How does Orbital Marine contribute to local economies?
Orbital supports local economies by sourcing 70% of its supply chain domestically, creating sustainable jobs, and strengthening the UK's position in renewable energy. Learn more from VestBee
8. What countries is Orbital Marine expanding to?
Orbital Marine is expanding into Canada’s Nova Scotia province, where it has secured tidal energy licenses for new projects. Check details in Business Green
9. What challenges can startups learn to navigate from Orbital Marine’s success?
Startups can learn to validate their technology locally, diversify revenue streams, leverage government and private partnerships, and come prepared with clear funding plans. Gain insights from EU-Startups
10. What complementary opportunities exist in tidal energy?
Opportunities include maintenance services, energy storage solutions, energy trading platforms, and marine ecology integration, providing a broad scope for innovation in the sector. Dive deeper into opportunities on Marine Technology News
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.