ARL Atlantis Resources

TIDMARL

Atlantis Resources Limited

26 October 2016

26 October 2016

Atlantis Resources Limited

("Atlantis" or the "Company")

MeyGen Update

Atlantis, a global leader in the tidal power sector, is pleased to provide a further update on the offshore construction programme at the MeyGen project site in the Pentland Firth, Scotland.

As announced on 7 October, the first of four Turbine Support Structures ("TSS") was installed using the Neptune jack up vessel owned by Geosea. All four foundations have now been successfully installed using the Neptune jack-up vessel which has been demobilised from the project site.

This offshore operation was a resounding success and importantly has validated the use of jack up vessels for the purpose of installing tidal turbine foundations offshore in high flow locations. The use of a jack-up rig for the installations is significant for the future of the industry offering a flexible and fast installation solution.

The project remains on track to have all turbines installed and connected to the grid in time for first power delivery from the world's largest tidal power project by the end of the year.

Enquiries:

 
 Atlantis Resources                  via FTI Consulting 
 Tim Cornelius, Chief Executive 
  Officer 
  Simon Counsell, Chief Financial 
  Officer 
 
 Peel Hunt LLP (Nominated Adviser    +44 (0)20 7418 
  and Broker)                         8900 
 Adrian Trimmings 
  Jock Maxwell Macdonald 
 
                                     +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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