Atlantis Resources Limited Collaboration Agreement
December 08 2015 - 2:00AM
RNS Non-Regulatory
TIDMARL
Atlantis Resources Limited
08 December 2015
8(th) December 2015
ATLANTIS RESOURCES LIMITED
("Atlantis" or the "Company")
Collaboration Agreement
Atlantis, a global leader in the tidal power sector, is pleased
to announce that it has entered into a 5-year Collaboration
Agreement ("the Agreement") with market leader, JDR Cable Systems
("JDR") effective from 31 December 2015.
JDR is a technology development company, located globally with
five UK sites and registered offices in Edinburgh, Scotland, which
designs and supplies subsea cable solutions.
Atlantis and JDR will look to develop solutions for storage,
installation, monitoring, connection, termination and testing of
offshore subsea cables as well as advancing the engineering design
of the cables. In addition, the companies will agree targets for
health, safety, and environmental and quality performance.
Atlantis and JDR will also explore opportunities to establish a
subsea cable R&D facility in Scotland, to service and advance
the Atlantis portfolio of tidal power projects in Scotland.
This collaboration underlines Scotland's role at the forefront
of developing tidal power projects with the emergence of a regional
centre of excellence around the Atlantis portfolio of projects and
its intended operations and maintenance facility currently being
established at Nigg Energy Park in Invergordon, Scotland.
Tim Cornelius, Chief Executive Officer of Atlantis,
commented:
"I am delighted to have entered this collaboration agreement
with JDR. Building on a strong partnership forged during the
construction phase of Phase 1A, this agreement will have a positive
impact on all of our future project developments, the first of
these being the 6MW Phase 1B of MeyGen which we are aspirant of
commencing construction in 2016. JDR supplied the subsea cables for
MeyGen Phase 1A, which remains on track to execute its final
offshore installation and commissioning program in 2016.
"By working with JDR we hope to benefit from optimum cable
design, ensuring that the cable supply chain is established and
achieving a reduction in costs for the entire tidal industry."
David Currie, Chief Executive Officer of JDR, said:
"On behalf of JDR, I am delighted to form this collaboration
partnership with Atlantis. Our execution efforts around the MeyGen
project have been to deliver a successful campaign and project for
Atlantis while ensuring the highest standards of subsea power
cabling in terms of HSE, quality and innovation.
"I am excited to support the collaboration of the JDR and
Atlantis teams in our endeavours to focus on cost reduction and
reliability of cable development for this important sector of
offshore energy."
For further information please contact:
Atlantis Resources Limited via FTI Consulting
Tim Cornelius, Chief Executive
Officer
Peel Hunt LLP (Nominated Adviser +44 (0) 20 7418
and Broker) 8900
Daniel Harris / Jock Maxwell MacDonald
+44 (0) 20 3727
FTI Consulting 1898
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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