Tidal firm Orbital among 12 showcasing green tech
The O2 tidal turbine is among the devices selected
Twelve companies, including blue chip firms Rolls-Royce and Drax, as well as Scottish tidal turbine developer Orbital Marine Power, will showcase their green technology to some of the world’s biggest investors.
Hosted by the Prime Minister and supported by members of the Royal Family, the Global Investment Summit on 19 October will demonstrate Britain’s commitment to green industries of the future.
It is held just ahead of the COP26 gathering in Glasgow and aims to promote the UK as the best destination for foreign investment.
About 200 investors attending the summit will see the latest innovation that is helping deliver key areas of the Prime Minister’s Ten Point Plan, helping cement the UK’s position as a science superpower and the world’s number one centre for green technology.
The showcase will demonstrate major leaps forward in renewable energy, with Orbital Marine Power displaying a model of its O2 2MW tidal turbine. Capable of generating enough clean electricity for around 2,000 UK homes and offsetting 2,200 tonnes of CO2 production per year, it is one of the most powerful tidal turbines in the world.
The other firms exhibiting are: Hydro Industries (Wales), Hy4Heat, Tokamak Energy (Oxford), First Light Fusion (Oxford), Arrival (Oxfordshire and London), Aurrigo – RDM Group (Coventry), Wrightbus (Northern Ireland), Vertical Aerospace (Bristol), Rolls-Royce (Derby), Automated Architecture – AUAR (Bristol and London), Drax Group (north of England).
Minister for Investment, Gerry Grimstone said: “Our Global Investment Summit will put UK innovation on the map.
“These businesses show why the UK is a global hub for green technology, not just helping ensure a cleaner, greener planet but also creating high value jobs across the whole of the UK.”
The Ten Point Plan will mobilise £12bn of government investment to create and support up to 250,000 highly skilled green jobs in the UK – and unlock three times as much private sector investment by 2030.
In the last decade Foreign Direct Investment (FDI) has created more than 700,000 jobs across the UK, including over 3,000 jobs created in Scotland over the last financial year alone. Since April 2019, projects supported by the Department for International Trade have contributed more than £7 billion to the economy.