Business
Further re Fuel Supply JV with N+P Group
Further re Fuel Supply JV with N+P Group.
About this update from Ampeak Energy Limited
[{"type":"text","content":"\n \n \n RNS Number : 4793V\n SIMEC Atlantis Energy Limited\n 07 August 2020\n \n \n \n The information contained in this announcement is inside information under the Market Abuse Regulation (EU) No 596 / 2014. The person responsible for arranging the release of this announcement on behalf of SIMEC Atlantis Energy Limited is Tim Cornelius, Chief Executive Officer of SIMEC Atlantis Energy Limited.\n 07 August 2020\n SIMEC Atlantis Energy Limited\n Further re Fuel Supply Joint Venture with N+P Group\n SIMEC Atlantis Energy, the global developer, owner and operator of sustainable energy projects, is very pleased to announce that, further to an announcement made on 6 August 2020 (the \"Announcement\"), it has now signed a Heads of Terms in relation to a joint venture, NPA Fuels Limited (\"NPA\"), with the N&P Holding 2 Ltd, a wholly owned subsidiary of the Dutch recycling specialists, the N+P Group, and certain related arrangements as detailed in the Announcement.\n NPA will principally be involved in the marketing, production and delivery of waste derived fuel pellets to converted coalfired power stations throughout the UK, and in particular the Uskmouth project.\n N+P and Atlantis are working to finalise a formal joint venture agreement and will update the market once this has been agreed and executed.\n \n Tim Cornelius, CEO of SIMEC Atlantis Energy Limited commented: \"We are very excited to be entering in the fuel production market alongside our trusted partner and market-leader, the N+P Group. Atlantis is looking forward to building a large, profitable business with N&P, starting with supply to our ground-breaking Uskmouth project. Our project development and marketing skills coupled with their technical expertise and deep market knowledge should create a new alternative fuel powerhouse. I would also like to thank SIMEC for agreeing to conclude their arrangements with the N+P Group and allowing us to enter into this arrangement that we believe will benefit all of our shareholders.\"\n \n Stijn Jennissen, CCO of N+P Group commented: \"We are delighted to enter into this new joint venture with Simec Atlantis Energy and we would like to thank SIMEC for their contributions as our former JV partner. The successful large scale combustion test was a major step for the development in the conversion of Uskmouth Powe...