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SIMEC Atlantis Energy

SIMEC Atlantis deepens relationship with GE

"We are delighted to be working together towards cleaner energy solutions," said Peter Oram, the commercial director of GE's Power Conversion business

Underwater turbine
The two parties will work jointly to help achieve efficient, sustainable solutions for the delivery of low-cost tidal power.

SIMEC Atlantis Energy Limited (LON:SAE), the sustainable energy generation project developer, has entered into a technology partnership with US titan, General Electric Company (NYSE:GE).

The Aim-listed company's Turbine and Engineering Services Division (ATES) is to enter into a technology partnership and preferred supplier agreement (TPPSA) with GE's Power Conversion business, a global leader in power conversion.

Both parties will work together and share resources for the ongoing development of utility-scale tidal energy generation and associated energy storage solutions. They will also engage in joint marketing activities to promote their innovative new subsea connection technologies and the wider benefits of cleaner, predictable tidal energy.

READ SIMEC Atlantis Energy unveils world's largest single rotor tidal turbine

The new agreement deepens the relation between Atlantis and GE; the two have been working together since September 2018 on the development and performance validation of Atlantis' AR2000 tidal generation system, which is expected to be the world's largest and most powerful single axis turbine available.

"GE is a world leader in power conversion equipment development and supply. The AR2000 is expected to be the world's largest single axis tidal turbine and it will be deployed on the world's largest tidal power project,” said Drew Blaxland, the director of ATES.

“We want to partner with the world's best companies; leaders in technology and innovation. This agreement with GE is a clear demonstration of our commitment to working with industry leading companies to deliver utility scale tidal power. As the sole supplier of turbine generation equipment to the second phase of the MeyGen Project in Scotland, partnering with GE unlocks enormous opportunities to build on 10 years of R&D to now deliver more cost-effective, cleaner tidal power solutions for developers around the world,” he added.

"We expect that the AR2000 will become the system of choice for developers of tidal power projects around the world. Developed and built in Britain and then exported around the world,” Blaxland said.

Quick facts: SIMEC Atlantis Energy

Price: £0.10

Market: AIM
Market Cap: £40.76 m
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