Atlantis launches new £5m bond to fund new tidal power projects

Tim Cornelius
Tim Cornelius

Atlantis – the tidal power giant which is building the MeyGen turbine array off the Caithness coast – has launched a new corporate bond.

The company hopes to raise up to £5 million through the five-year bond which has a coupon of 8%.

The cash raised will be used to accelerate development of the best opportunities in the Atlantis project pipeline, including the recently announced Uskmouth power station conversion and the Wyre tidal gateway project in Wales and to provide general working capital for the Atlantis group.

Tim Cornelius, Chief Executive, Atlantis Resources, said: “As we embark on our transformational deal with SIMEC and the GFG Alliance to create a global, diversified renewable energy platform, this bond offer represents a chance for ordinary investors to help Atlantis to grow and share in our future financial success.

“The bonds will also help us achieve our ambition of becoming one of the largest and most diversified renewable energy companies on the London Stock Exchange”.

Energy UK and the British Irish Chamber of Commerce are holding a conference on Brexit and ‘the future of the UK – Ireland energy relationship’ tomorrow.

The Brit-Govt minister for Brexit, Robin Walker, MP and Michael Manley, Ireland’s energy minister, are headline speakers along with Lawrence Slade, Chief Executive, Energy UK at the SW1 event on 2 Feb 2018

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1 Feb 2018

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