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Pin to quick picksSimec Atlantis Share News (SAE)

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SIMEC expects Uksmouth plant to be 'prototype' for coal conversions

Mon, 13th Aug 2018 10:01

(Sharecast News) - SIMEC Atlantis Energy expects its flagship Uskmouth power station in Wales to produce first energy by the end of 2020 and then stand as a prototype for a pipeline of coal-power conversions across the globe.Uskmouth is being converted from coal-fired power station into a generator of power from end-of-waste pellets, which are a mixture of un-recyclable biogenic materials and plastics.SIMEC, formerly known as Atlantis Resources until June's reverse takeover of the Simec Uskmouth project from the Gupta family's GLG Alliance vehicle, expects the conversion process to take roughly 18 months to wrap up and has targeted first energy from the fourth quarter of 2020.On Monday, the firm revealed that it was already in discussions with plant owners and operators across Europe, Australia, Asia and the USA regarding future conversions."This project is of huge international interest; with governments and utilities around the world being forced to close down coal-fired power stations, this conversion will offer a new alternative to decommissioning," said Ernie Rowe, head of conversion at SIMEC Atlantis.Rowe also said the project was "on time and within projected budget" and that planning and site environmental permit work was "progressing well".Looking forward, SIMEC's chief executive Tim Cornelius, added, "Cash flow generated from high margin projects such as Uskmouth will allow us to fund growth through carefully selected and executed acquisitions in addition to our existing portfolio of in-house developments and organic growth opportunities."The Gupta's GFG Alliance, who after June's deal own 49.99% of the group's shares, is better known as the owner of Liberty House, the industrial and metals business, with SIMEC being a subsidiary focused on resources and infrastructure group. The Uskmouth project is intended to be the first of a number of acquisitions from GFG's SIMEC pipeline, which comprises a number of assets within the UK and Australia with a total gross generation capacity of 680MW.As of 1040 BST on Monday, SIMEC shares had inched ahead 0.56% to 26.90p, which is down 23% from the 35p at which institutions bought into the 15 June reverse takeover.
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23 Sep 2022 11:39

IN BRIEF: SIMEC Atlantic Energy shares surge on turbine re-deployment

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Re-deploys 1.5 megawatt turbine at MeyGen site in north Scotland. Says this is a critical step at demonstrating tidal technology at commercial scale.

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30 Aug 2022 11:05

IN BRIEF: SIMEC Atlantis shares surge on major milestone for project

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Secures the necessary grid variations for its 230 megawatt battery energy storage system project at the Uskmouth site in Wales. Now believes the project is on track to be operational by 2024.

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30 Aug 2022 11:04

AIM WINNERS & LOSERS: Diurnal shares more than double on takeover bid

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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11 Aug 2022 15:44

UK shareholder meetings calendar - next 7 days

Friday 12 August 
iEnergizer LtdAGM
Ironveld PLCGM re proposals to remove directors
Old Mutual LtdGM ownership transaction
Pineapple Power CorpAGM
Monday 15 August 
Ascent Resources PLCGM re annual report
Corcel PLCAGM
Coro Energy PLCGM re annual report
Forward Partners Group PLCAGM
Ince Group PLCGM re fundraise
Red Rock Resources PlcGM re convertible loans
Schroders PLCGM re dual class share structure
Tuesday 16 August 
Go-Ahead Group PLCGM re takeover by Kinetic and Globalvia consortium
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Wednesday 17 August 
Calnex Solutions PLCAGM
Thursday 18 August 
Artemis Resources LtdGM directors fees, share options
Artemis Resources LtdAGM
LoopUp Group PLCGM resolutions to the annual report and accounts that were not put in AGM
NextEnergy Solar Fund LtdAGM
Oryx International Growth Fund LtdAGM
SIMEC AtlantisEnergyAGM
  
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7 Jul 2022 11:53

IN BRIEF: SIMEC Atlantis wins contract to deliver power at MeyGen

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Wins government support to deliver the next phase of tidal projects. It says it has successfully secured a contract for difference in the latest allocation round for MeyGen site in Scotland. SAE says the CfD guarantees GBP178.54 per megawatt hour for 15 years. The firm it will deliver "28MW of clean, home-sourced, predictable power."

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1 Jul 2022 21:53

TRADING UPDATES: Scotgems to vote on liquidation; Mkango names new CFO

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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29 Jun 2022 11:38

AIM WINNERS & LOSERS: Deltic rises on Shell deal; Windar down on delay

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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29 Jun 2022 11:04

SIMEC Atlantis Energy shares tumble on sharp loss in 2021

(Alliance News) - SIMEC Atlantis Energy Ltd on Wednesday posted a greatly widened loss as it described the past 12 months as "very challenging".

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10 Jun 2022 17:32

IN BRIEF: SIMEC Atlantis Energy wins extension on debenture deed

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Wins a one year extension to the maturity date of its Atlantis Ocean Energy debenture deed to June 30, 2023. The interest due on June 30 will now be paid late but company notes this will be paid no later than September 30. Company also formally requests from Atlantis a deferral of up to three months for interest payment due on June 30. The request for the deferral requires the agreement of 75% by value of debenture holders.

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24 May 2022 14:05

SIMEC Atlantis Energy surges on GBP40 million battery storage contract

(Alliance News) - SIMEC Atlantis Energy Ltd on Tuesday said it has signed a GBP40 million contract for a battery storage project at Uskmouth.

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24 May 2022 11:02

AIM WINNERS & LOSERS: SIMEC wins bumper deal; boohoo settles claim

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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27 Apr 2022 16:04

IN BRIEF: SIMEC Atlantis Energy falls on debt repayment discussions

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Enters into discussions with Abundance Investment Ltd to extend the timing of the repayment of its Atlantis Ocean Energy PLC debentures. Says it needs more time to make the repayment due to delays at its projects, in particular at its Uskmouth site. These debentures were issues in 2017 and totalled GBP5 million. They were due for repayment on June 30. Company adds it will formally request an extension and potentially a deferral of the upcoming interest payment "shortly".

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25 Apr 2022 20:22

IN BRIEF: SIMEC Atlantis promotes Hirst to CFO, executive director

SIMEC Atlantis Energy Ltd - Edinburgh-based renewable energy producer - Promotes Simon Hirst to role of chief financial officer and executive director. Hirst has worked at SAE since 2015 and has primarily been responsible for all financial and commercial aspects of the MeyGen project. Says Andrew Charters has resigned his position on the board and has stepped down as CFO. He will remain with the group during a transition period, it adds.

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1 Apr 2022 16:08

Simec Atlantis gets £2.5m Scottish Enterprise loan for tidal project

(Sharecast News) - Simec Atlantis Energy announced on Friday that its majority-owned MeyGen tidal project has secured a non-convertible loan of £2.5m from Scottish Enterprise.

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1 Apr 2022 09:56

AIM WINNERS & LOSERS: Quiz shares in style as sales top expectations

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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