Atlantis Resources Limited Turbine Construction Contract with Lockheed Martin (7835I)
March 30 2015 - 2:02AM
UK Regulatory
TIDMARL
RNS Number : 7835I
Atlantis Resources Limited
30 March 2015
30 March 2015
ATLANTIS RESOURCES LIMITED
("Atlantis" or the "Company")
Turbine Construction Contract with Lockheed Martin
Atlantis, majority owner of the world's largest tidal stream
energy project, MeyGen, announces today that it has executed a
construction contract with global defence contractor Lockheed
Martin, for the delivery of Atlantis' new 1.5 megawatt AR1500
turbine to fulfil the Company's MeyGen project turbine supply
obligations. The 18 metre rotor diameter AR1500 turbine, scheduled
for delivery dockside in Scotland in 2016, will be one of the
largest capacity single rotor turbines ever built. The AR1500
turbine will have an active rotor pitching system and full nacelle
yawing capability.
The Lockheed Martin turbine construction contract scope includes
the manufacture of the steel turbine housing, the assembly of all
the turbine modules (including the gearbox and generator) and the
systems integration and quality assurance of the overall turbine
delivery programme. Lockheed and Atlantis are working with the
supply chain in Scotland to maximise local content for the
AR1500.
This announcement marks the latest step in the Atlantis -
Lockheed Martin relationship and builds on Lockheed Martin's
contribution under the AR1500 detailed design contract. The yaw
drive and variable pitch system that will be integrated into the
AR1500 are being developed and manufactured by Lockheed Martin as
part of their commitment under the existing technology partnership
teaming agreement struck between Atlantis and Lockheed in 2013.
Atlantis is also pleased to announce that contractors will today
commence horizontal directional drilling operations at the MeyGen
site in Caithness, to create the bores for the cables which will
link the onshore site at Ness of Quoys with the four subsea
turbines. Construction works have been underway at the onshore site
since January to prepare the necessary infrastructure for this
important phase of the project.
Tim Cornelius, CEO of Atlantis, commented:
"This new multi-million pound contract with Lockheed Martin
further develops the strong relationship that exists between the
two companies who are at the forefront of tidal power generation.
Lockheed Martin has been a strong partner and supporter of Atlantis
for a number of years and we look forward to continuing to work
alongside this global technology giant as we continue to deliver
turbine systems for installation on the MeyGen project going
forward. "
For further information please contact:
Atlantis Resources Limited via FTI Consulting
Tim Cornelius, Chief Executive Officer
Duncan Black, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser +44 (0) 20 7418
and Broker) 8900
Daniel Harris / Jock Maxwell MacDonald
+44 (0) 20 3727
FTI Consulting 1000
Ben Brewerton / Alex Beagley / Stephanie
Blott / James Styles
Atlantis names Lockheed Martin as principal contractor to
deliver AR1500 turbine to the MeyGen tidal power project
-- Lockheed Martin awarded construction contract to build
Atlantis' new 1.5MW AR1500 tidal turbine for the MeyGen
project.
-- Atlantis boosts strong partnership following initial
collaboration on design optimisation of the AR1500.
-- Construction continues on the 398MW MeyGen project as
horizontal drilling operations commence on-site.
Atlantis, majority owner of the world's largest tidal stream
energy project, MeyGen, announces today that it has executed a
construction contract with global defence contractor Lockheed
Martin for the delivery of Atlantis' new 1.5 megawatt AR1500
turbine to fulfil the Company's MeyGen project turbine supply
obligations.
The 18 metre rotor diameter AR1500 turbine, scheduled for
delivery dockside in Scotland in 2016, will be one of the largest
capacity single rotor turbines ever built. The AR1500 turbine will
have an active rotor pitching system and full nacelle yawing
capability.
The Lockheed Martin turbine construction contract scope includes
the manufacture of the steel turbine housing, the assembly of all
the turbine modules (including the gearbox and generator) and the
systems integration and quality assurance of the overall turbine
delivery programme. Lockheed and Atlantis are working with the
supply chain in Scotland to maximise local content for the
AR1500.
This announcement marks the latest step in the Atlantis -
Lockheed Martin relationship and builds on Lockheed Martin's
contribution under the AR1500 detailed design contract. The yaw
drive and variable pitch system that will be integrated into the
AR1500 are being developed and manufactured by Lockheed Martin as
part of their commitment under the existing technology partnership
teaming agreement struck between Atlantis and Lockheed in 2013.
Tim Cornelius, CEO of Atlantis, commented:
"This new multi-million pound contract with Lockheed Martin
further develops the strong relationship that exists between the
two companies who are at the forefront of tidal power generation.
Lockheed Martin has been a strong partner and supporter of Atlantis
for a number of years and we look forward to continuing to work
alongside this global technology giant as we continue to deliver
turbine systems for installation on the MeyGen project going
forward."
Atlantis has also announced that contractors have commenced
horizontal directional drilling operations at the MeyGen site in
Caithness, to create the bores for the cables which will link the
onshore site at Ness of Quoys with the four subsea turbines. Each
of the four bores will be approximately 550m long, and is designed
to contain a 4.4kV cable through which tidally generated energy can
be exported from the turbines to the onshore grid connection. The
drilling is expected to take four months and will be carried out by
Manchester-based O'Connor Utilities Ltd. Construction works have
been underway at the onshore site since January to prepare the
necessary infrastructure for this important phase of the
project.
MeyGen was one of the first tidal projects in the world to
secure the necessary planning consent, lease agreement, grid
connection and power purchase agreement in order to begin onshore
and offshore construction. Construction of the first phase of the
project is expected to take place throughout 2015 and 2016, with
first power being delivered to the grid for sale in 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTPGUMCWUPAPUB
Atlantis (LSE:ARL)
Historical Stock Chart
From Apr 2024 to May 2024
Atlantis (LSE:ARL)
Historical Stock Chart
From May 2023 to May 2024