Atlantis Resources Corporation (”Atlantis”), one of the world’s leading developers of electricity-generating tidal current turbines, has completed a US$14 million fundraising and welcomes Statkraft, Europe’s largest generator of renewable energy, as a new partner and lead investor in the fundraising. Statkraft joins existing Atlantis shareholders which include Morgan Stanley.
Kim Manley, Executive Chairman of Atlantis commented: “We are delighted to welcome Statkraft as an investor and a partner. They are a leader in their field in Europe, and they are an excellent strategic fit for us as we grow the business and realise our vision.”
Nicolai Gedde, Vice President Marine Energy of Statkraft said: “Our investment in Atlantis is consistent with Statkraft’s commitment to supporting new technologies which we believe will become important parts of the energy mix.”
John Woodley, Managing Director in Morgan Stanley’s commodities group commented: “We are delighted to have Statkraft investing with us, and they will be a strong partner for Atlantis as it continues to pioneer the sector’s development. A successful fundraising and the signing of a new strategic partnership is a significant achievement at the present time. It is also a validation of Atlantis’ technology and commercial model.”
As part of the investment, Oystein Stavli of Statkraft will join the Atlantis board. Morgan Stanley acted as Financial Adviser to Atlantis Resources Corporation.