Business
Project MeyGen Update
Project MeyGen Update.
About this update from Ampeak Energy Limited
[{"type":"text","content":"\n \nRNS Number : 7189O Atlantis Resources Limited 11 August 2014 \n \n\n11 August 2014\n \nATLANTIS RESOURCES LIMITED\n \n(\"Atlantis\" or the \"Group\")\n \nMeyGen Project Update\n \n \nAtlantis, owner of the world's largest planned tidal current energy project, MeyGen, and tidal energy equipment supplier, announces that it will today sign a contract with ABB, a leading power and automation technology group, to provide the onshore infrastructure works and electrical equipment for Phase 1A of the MeyGen project in the Pentland Firth in Scotland. \n \nAtlantis continues to work closely with all relevant financing and contracting parties on achieving financial close for the first phase of the project, which is expected to be completed shortly. Accordingly the Board knows of no reason for the recent share price falls. The project remains on track for construction to commence in 2014 with first power expected in early 2016.\n \n \n-Ends-\nFor further information please contact:\n\n\n\n\nAtlantis Resources Limited \n\n\nvia FTI Consulting\n\n\n\n\nTim Cornelius, Chief Executive Officer\n\n\n\n\n\n\n\nDuncan Black, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPeel Hunt LLP (Nominated Adviser and Broker)\n\n\n+44 (0) 20 7418 8900\n\n\n\n\nDaniel Harris / Andy Crossley \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFTI Consulting (Media and PR) \nBen Brewerton / Alex Beagley / James Styles\n\n\n+44 (0) 20 3727 1000\n\n\n\n\n \n \nAbout Atlantis Resources\n \nAtlantis Resources Limited is a vertically integrated turbine supplier and project developer in the tidal power industry. The Group holds interests in a diverse portfolio of tidal stream development projects, which includes 100 per cent ownership of MeyGen Limited, the company developing the MeyGen project in Scotland. The directors believe that MeyGen is the largest consented tidal stream power project in Europe, and is scheduled to commence power production in 2016. \n \nAlongside its project development interests, the Group owns a portfolio of patents and patent applications relating to tidal power generation and sells tidal generation equipment and engineering services to third party developers as well as its own projects. The Group, which is revenue generating, also conducts industrial research and development ...