Franco-American offshore oil contractor TechnipFMC has taken a stake in fast-moving Scottish marine renewables outfit Orbital Marine Power to gear up commercialisation of the latter’s O2 tidal power device.
The strategic partnership, the terms of which were not disclosed, is targeting “market scale-up and deployment” of Orbital’s cross-shaped ‘ocean-riding’ design that was installed off the Orkney Islands earlier this year and is now producing to the grid.
