SIMEC Atlantis Energy is a globally sustainable energy generation and asset management company. We are involved in the design, development, construction, conversion, installation, completion, testing, commissioning, operation, and maintenance of power projects around the world. We deliver world-class renewable project development strategies using our internationally renowned transaction team. Our intention is to own and operate sustainable power generation assets and create sustainable, long-term revenue streams for our shareholders. We also have a turbine and engineering services division, which designs, supplies and maintains world-leading tidal turbines and subsea connection equipment. It is located in Bristol, United Kingdom.
The previous Atlantis business was originally a vertically integrated turbine supplier and project owner in the tidal power industry, investing in a diverse portfolio of tidal stream development projects, which includes a majority ownership of MeyGen, currently the world’s largest tidal current power project.
The company owns a portfolio of patents relating to tidal power generation and sells tidal generation equipment and engineering and offshore construction services to third-party developers. Outside of its largest portfolio of projects in planning in the UK, Atlantis is also seeking to develop tidal power projects in other locations around the world including France, Indonesia, Japan, India, China and Australia. Our tidal portfolio also includes the development rights to the Wyre Estuary tidal power and flood protection project in Lancashire, England.
SIMEC Atlantis Energy is the marriage of SIMEC, a member of the GFG Alliance and Atlantis Resources Limited. SIMEC owns and operates a diversified portfolio of sustainable and renewable generation assets which, over time, will be acquired by Atlantis on arm’s length terms and operated by our dedicated and specialized management team. SIMEC owns hydro projects, mini-hydro projects, pumped hydro storage projects, battery storage projects, onshore wind development projects and a fleet of biofuel generators.
To consummate this relationship, in 2017 Atlantis announced it had signed a conditional share purchase agreement to acquire the entire issued share capital of SIMEC Uskmouth Power Limited (“SUP”) from SIMEC UK Energy Holdings Limited, a member of the GFG Alliance(http://www.gfgalliance.com/), in consideration for the issue of new Atlantis ordinary shares representing approximately 49.99 percent of the share capital of Atlantis. Following the acquisition, it is proposed that 220MW of capacity at the SUP power station in Wales will be converted to use a waste-derived energy pellet as fuel. The acquisition is intended to be the first of a number of acquisitions from the GFG Alliance that will transform Atlantis into a diversified energy company of scale owning development and generating assets across the sustainable energy spectrum, supplementing its existing portfolio of tidal assets.
Atlantis is, through a relationship agreement, being provided with investment rights by way of a right of first offer to a pipeline of renewable power assets owned or subsequently acquired by the GFG Alliance. These currently comprise a number of operating and development assets in the UK and Australia with a total gross capacity of 680MW.