Atlantis Resources Limited Atlantis joins forces with Natural Energy Wyre
February 10 2017 - 2:00AM
RNS Non-Regulatory
TIDMARL
Atlantis Resources Limited
10 February 2017
10 February 2017
Atlantis Resources Limited
("Atlantis" or the "Company")
Atlantis Energy joins forces with Natural Energy Wyre
to develop the Wyre tidal energy project
Atlantis Resources, a global leader in the development of marine
renewables, is pleased to announce an agreement to partner with
Natural Energy Wire ("NEW") to develop the Wyre tidal project
planned to be built between Fleetwood and Knott's End on the
Lancashire coast in England.
The UK Government's recent review of the potential for tidal
lagoon power led by Charles Hendry, former Minister for Energy,
concluded that proceeding with a "pathfinder" project as well as
other smaller projects would be consistent with the development of
the potentially important resource of tidal power around the shores
of the UK. The Wyre project, which has been under development for
several years, is consistent with this objective, comprising of a
160 MW tidal power plant capable of producing up to 400GWh of
completely carbon free power each year, coupled with flood
protection. The Wyre project is unique in that it mimics actual
tidal cycles, which should translate into minimal environmental
disruption.
Atlantis recently announced the launch of a new division,
Atlantis Energy, focused on the development of non-tidal stream
power projects. This partnership with NEW has been entered into
with this new division and builds on the recently announced
partnership with French floating offshore wind foundation
developer, Ideol, to develop a large-scale demonstration project in
the UK.
The origination of the Wyre project has been spearheaded by Bob
Long, Managing Director of NEW, and the design of the project has
been a collaboration of leading energy sector companies including
Mott Macdonald, BAM Nuttall, Arcadis and Andritz Hydro.
Bob Long, Managing Director of NEW, said:
"I am delighted by the involvement of Atlantis in this important
project. They have a proven track record of tidal development and
an excellent team which can now move this project forward with real
pace. I am passionate about the Wyre project and am committed to
seeing it delivered for the greater economic good of the region.
This is not just a low cost renewable energy project. This is a
project that will provide flood protection to an area which will be
increasingly vulnerable to rising sea levels. It is a project that
offers huge opportunity for the regeneration of Fleetwood and the
surrounding area and a chance to enhance the recovery of a
previously seriously contaminated estuary."
Tim Cornelius, CEO of Atlantis, commented:
"The Wyre project is an opportunity to develop an extremely cost
effective tidal range project which represents excellent value for
the consumer. The geography of the Wyre means that only a
relatively small impoundment is required for the power output
produced. This makes Wyre a very cost effective way to test the
concepts of tidal range power; its location also offers the chance
to offer multiple benefits to the local community and surrounding
area through economic stimulus and habitat preservation.
"I believe our proven track record of development means that,
together with NEW, we can bring this project to reality very
quickly. This project is absolutely in line with Charles Hendry's
recommendations to build momentum in this new industry and with the
Secretary of State's ambition for affordable, reliable energy
supply with a strong domestic supply chain focus. It also fits well
with the Government's stated Northern powerhouse strategy as well
as contributing to the development and regeneration of our towns
and cities."
Enquiries:
Atlantis Resources via FTI Consulting
Tim Cornelius, Chief Executive
Officer
Simon Counsell, Chief Financial
Officer
+44 (0)20 3727
FTI Consulting 1000
Ben Brewerton
Alex Beagley
James Styles
This information is provided by RNS
The company news service from the London Stock Exchange
END
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