Atlantis Resources Limited Atlantis targeting French tidal power market
March 16 2017 - 03:01AM
RNS Non-Regulatory
TIDMARL
Atlantis Resources Limited
16 March 2017
16 March 2017
Atlantis Resources Limited
("Atlantis" or the "Company")
Atlantis targeting French tidal power market
Atlantis, a global leader in the tidal power sector, has today
announced its intention to enter the French tidal market through
the establishment of a cooperation agreement with French specialist
marine engineering company, INNOSEA which is headquartered in
Nantes.
France has the second largest tidal power resource in Europe. In
collaboration with INNOSEA, Atlantis is preparing an industrial
plan to enter the French market. INNOSEA is advising Atlantis on
how to build a French supply chain plan for the manufacture,
assembly and distribution of the market leading Atlantis AR1500
tidal turbines as well as foundations and associated transportation
and logistics. Regions to be investigated for supply chain
potential include Brittany (Région Bretagne), Normandy (Région
Normandie), Aquitaine (Région Aquitaine), Pays-de-la-Loire (Région
Pays-de-la-Loire) and Hauts-de-France (Région Hauts-de-France).
INNOSEA has developed a proprietary marine energy industrial
capability directory, which profiles more than 350 organisations in
France that have capabilities (products and services) relevant to
the marine energy industry. INNOSEA has undertaken an analysis of
vessel fleets, operational ports, marshalling yards and logistics
companies in order to prepare a local deployment plan for tidal
commercial projects in France for Atlantis. INNOSEA has extensive
experience with such studies, having previously completed similar
scopes of work for the offshore wind supply chain in France. Future
work will focus on the requirements of the AR1500 turbine. INNOSEA
are currently assessing local partners for civil engineering works,
composite, steel or concrete fabrication, turbine assembly, testing
and commissioning and component manufacture.
Following the French pilot farm tenders launched by ADEME in
2014, Atlantis is seeking to formally enter and participate in the
French tidal power market with immediate aspirations to develop the
first tidal array sites in French waters. The cooperation with
marine engineering specialist INNOSEA in France will be key for
delivering front-end engineering of new arrays in French tidal
races such as the Raz Blanchard site in Normandy.
Tim Cornelius, CEO of Atlantis, said: "France is an exciting new
market for commercial scale tidal power project development which
is set for enormous growth over the next few years. As a leading
developer of tidal power projects, we want to be part of the
success of the marine energy industry in France. The success we
have worked so hard for at MeyGen has provided our team with
knowledge, expertise and lessons learned that can translate
directly to project sites such as Raz Blanchard. Government
agencies and key suppliers want access to our know-how so that the
tidal power industry can rapidly grow, creating long term
prosperity for regions blessed with local resource capacity. We
have an established track record of domestic supply chain
integration, job creation and the stimulation of direct private
sector investment. We look forward to working with INNOSEA and the
local supply chain in France to deliver affordable, predictable and
sustainable tidal power generation for this progressive nation.
We want to make material progress during 2017 with respect to
project identification. From our perspective, deployment of
generating assets is possible in one to two years' time. The AR1500
turbine system is already producing commercial scale power in
Scotland and our project teams are the most experienced in the
world.
Atlantis has already commenced working with INNOSEA in the
United Kingdom on the delivery of MeyGen Phase 1B, a multi- turbine
array to be located adjacent to Phase 1A the in the Inner Sound of
the Pentland Firth in northern Scotland."
INNOSEA Marine Engineering CEO, Hakim Mouslim, said: "Atlantis
tidal turbine systems are leading the tidal industry right now. We
believe that there is great potential for Atlantis' commercial
projects in France. Therefore, building an industrial and local
supply chain plan is crucial for the success of projects in France.
Our country has strong industry partners which we have identified
for Atlantis in order to maximize the industrial local content. The
industrial plan for France we have delivered is able to lead to the
set-up of dedicated construction and assembly plants for Atlantis
if the project pipeline if sufficient. We are delighted to
strengthen our cooperation with Atlantis Resources and look forward
to entering into the next development and engineering phases of
tidal commercial projects in France. "
Enquiries:
Atlantis Resources Via FTI Consulting
Tim Cornelius, Chief Executive
Officer
Simon Counsell, Chief
Financial Officer
INNOSEA +33 (0) 2 53 35 50 90
Hakim Mouslim, Chief Executive
Office
FTI Consulting +44 (0) 203 727 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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