ARL Atlantis Resources

TIDMARL

RNS Number : 7626O

Atlantis Resources Limited

09 November 2016

9 November 2016

Atlantis Resources Limited

("Atlantis" or the "Company")

Response to BEIS statement on CfD

Atlantis, a global leader in the tidal power sector, is pleased that the Government department for Business, Energy & Industrial Strategy ("BEIS") has this morning clarified its position on the inclusion of marine energy for participation in the forthcoming April CfD allocation round. Whilst the removal of the previously pledged ring-fenced allocation is disappointing, the decision announced today was not unexpected and the Company has a clear view of how to move its UK portfolio forward. The Company looks forward to participating in the 2017 CfD auction with a number of its upcoming projects, and in the interim it will continue discussions with UK and Scottish governments on continuing support for this growth and job creating sector. The Company and its stakeholders remain committed to ensuring that the UK maintains its world leading position in the development of tidal stream power. Phase 1A of the Company's MeyGen project in the Pentland Firth which is currently under construction, benefits from the ROC regime and is on track to deliver first power in 2016.

The BEIS press release can be found here: https://www.gov.uk/government/news/government-sets-out-plans-to-upgrade-uk-energy-infrastructure-and-increase-clean-energy-investment

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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November 09, 2016 08:00 ET (13:00 GMT)

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