Atlantis Resources Limited Wyre Tidal Project
19 June 2017 - 4:00PM
RNS Non-Regulatory
TIDMARL
Atlantis Resources Limited
19 June 2017
19 June 2017
Atlantis Resources Limited
("Atlantis" or the "Company")
Wyre Tidal Project
Atlantis, a global leader in the tidal power sector, is in
negotiation with the Duchy of Lancaster as its preferred developer
for the proposed Wyre Valley tidal barrage and flood protection
project (the "Project"). The Project would be chiefly situated on
the Duchy estate between Fleetwood and Knott End on the Lancashire
coast.
Atlantis and the Duchy will now enter into a period of
negotiation to reach agreement regarding an option for a long-term
lease for the proposed site to permit the development of a tidal
power scheme with a proposed installed capacity of 160 MW. It is
currently predicted that the Project will be capable of producing
almost 300 GWh of sustainable energy each year, coupled with flood
protection capabilities. It is expected that the process of
obtaining all necessary consents to begin development will take
approximately three years, but this option agreement would give the
necessary rights and access for the majority of the required
land.
Atlantis will now work with its development partners, supply
chain and investors to progress the Project.
Tim Cornelius, CEO of Atlantis, said:
"The Wyre Valley tidal barrage and flood protection project
represents a hugely exciting opportunity to showcase the UK's world
leading commercial tidal energy potential. We believe that the
Project will help to stimulate the local economy in Fleetwood,
bring wider benefits to the region, and represent a cost-effective
option for clean, large scale domestic power production.
"This will be a major project for our Atlantis Energy division
as we continue our diversification strategy and we look forward to
working with the Duchy of Lancaster our partners, investors and
supply chain to bring the project to fruition."
Enquiries:
Atlantis Resources via FTI Consulting
Tim Cornelius, Chief Executive
Officer
Simon Counsell, Chief Financial
Officer
+44 (0)20 3727
FTI Consulting 1000
Ben Brewerton
Alex Beagley
James Styles
This information is provided by RNS
The company news service from the London Stock Exchange
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