SIMEC Atlantis Energy Regulatory News (SAE)

RNS Reach

15 February 2021

SIMEC ATLANTIS ENERGY LIMITED("SAE", the "Company" and, together with its subsidiaries, the "Group")

SAE achieves another tidal milestone with installation and successful generation of tidal turbine in Japan

SAE, the global sustainable energy generation company and technology developer, is pleased to announce that its Scottish built tidal turbine and generation equipment have been successfully installed in the Goto Island chain in Japan. The tidal turbine clocked its first 10MWh of generation within the first ten days of operation and is now producing clean electricity in Japan.

The project included leasing tidal generation equipment and providing offshore construction services to Kyuden Mirai Energy ("KME") for a pilot turbine located in the straits of Naru Island, within the southern Japanese Goto island chain. The SAE designed and manufactured AR500 tidal turbine was assembled at SAE's operations and maintenance base at Nigg Energy Park in Scotland. The turbine was assembled and tested in nine weeks before shipping to Japan.

Offshore construction of the tidal generation equipment took just five days to complete, beginning with the laying of the cable, landing of the foundation structure and ballast to the sea floor, connection of the cable, and finally the installation of the turbine to the foundation.

Graham Reid, CEO of SAE, said:

"We are proud of our team, who worked efficiently and most of all safely during a worldwide pandemic, to bring tidal stream energy to Japan. Throughout the project we have also received great support from our strategic partner, KME, who was supported by a consortium of local and international stakeholders. I would also like to recognise the work of the Scottish Government who continue to support and champion the tidal industry and maximise the benefits to Scotland.

This is a huge milestone for the deployment of clean, renewable energy from tidal stream and we hope it will be the first of many tidal turbines installed in Japan."

Scotland's Energy Minister, Paul Wheelhouse, said:

"For over 10 years the Scottish Government has championed the development and deployment of marine energy. We have worked extensively to support the research, development, innovation and demonstration that has made Scotland a global leader in both tidal and wave technology, with several World firsts and initiatives having been progressed in Scotland's waters.

"I would like to congratulate Simec Atlantis Energy on achieving this significant milestone for the company and also for the workers at Nigg Energy Park who built the turbine which is now successfully generating clean, green electricity in Japan. Both the company and the team at Nigg have demonstrated the huge potential for Scotland's marine energy and the key role it will play in decarbonising our energy both at home and - as demonstrated by this turbine's successful deployment in Japan - across the World and I look forward to Scotland's marine energy potential having a further shop window to the international community when delegates gather in Glasgow for COP26, later this year."

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Notes to Editors

SIMEC Atlantis Energy

Atlantis is a global developer, owner and operator of sustainable energy projects with a diverse portfolio in various stages of development. This includes a 77 per cent. stake in the world's largest tidal stream power project, MeyGen, 100 per cent. of the 220MW Uskmouth Power Station conversion project and 100 per cent. of Green Highland Renewables, a leading developer of mini-hydro projects.

https://www.simecatlantis.com/

More on the MeyGen Project: https://simecatlantis.com/projects/meygen/

More on the Uskmouth Project: https://simecatlantis.com/project-development-operation/simec-uskmouth-power/