TIDMSAE
RNS Number : 4066J
SIMEC Atlantis Energy Limited
22 December 2020
22(nd) December 2020
SIMEC ATLANTIS ENERGY LIMITED
("Atlantis", the "Company" or, together with its subsidiaries,
the "Group")
Entry into Fuel Joint Venture Agreement ("NPA")
Atlantis, the global sustainable energy generation company and
technology developer, is pleased to announce it has now formally
entered into a joint venture agreement with industry leading
alternative fuel production and supply partner, the Netherlands
based N+P Group. This follows the announcement on 7 August 2020 of
the signing of Heads of Terms. Atlantis owns 50% of the new
company, NPA Fuels Limited (NPA). NPA will produce, market, and
deliver waste derived fuel products to converted coal fired power
station operators throughout the UK, and the Uskmouth project. NPA
will produce Subcoal(R), a high-quality waste derived fuel product
for sale to Atlantis owned assets as well as to other converted UK
coal fired power stations.
As per the operational update on 9 December 2020, NPA is now
driving forward planning, permitting and consenting for multiple
fuel production plants ("FPPs") in the UK. The Company is currently
negotiating land and rail rights at several different locations
across the UK, including both greenfield and existing facilities.
Atlantis will update the market on progress when appropriate.
Timothy Cornelius, CEO of Atlantis, commented:
"The waste derived fuel pellet developed by N+P Group over the
past few years as part of Atlantis' multi-million pound R&D and
testing program has been conducted in collaboration with multiple
academic institutions and with the assistance of Mitsubishi Power
Europe. This work has changed the way the industry views ageing
coal fired assets, which are soon to be retired. We expect this
fuel to be in high demand and securing supply for Uskmouth through
our ownership of NPA Fuels is an important step towards achieving
financial close. We look forward to building a large and profitable
alternative fuels powerhouse together in the years to come."
Stijn Jennissen, CCO of N+P Group, said:
"The investment in the development of a new type of Subcoal(R)
has led to a unique fuel that is combustible in converted existing
coal burners. We believe this unique fuel will revolutionise the
way coal fired power stations operate in the future. We are very
excited to be the sole fuel supply partner on the Uskmouth project
in Wales via our ownership in NPA Fuels, which we believe will be
the catalyst for many more power station conversions globally. We
believe that the Uskmouth contract will be the start of a rapid
growth, profitable and scalable business and we look forward to
growing NPA Fuels with Atlantis in the UK over the coming
years."
-- ENDS --
Enquiries:
+44 (0) 7739 832
SIMEC Atlantis Energy Limited 446
Sean Parsons, Director of
External Affairs
----------------------
Investec Bank PLC - NOMAD +44 (0) 20 7597
and Joint Broker 5970
----------------------
Jeremy Ellis
Sara Hale
Ben Griffiths
----------------------
Arden Partners PLC - Joint
Broker +44 (0) 20 7614 5900
----------------------
Ruari McGirr
Richard Johnson
Simon Johnson
----------------------
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/
Link to Heads of Terms announcement 7(th) August:
https://simecatlantis.com/2020/08/07/further-re-fuel-supply-joint-venture-with-np-group/
Link to Operational Update 9(th) December:
https://simecatlantis.com/2020/12/09/4674/
N&P
N+P Group (N+P) is a global trader, developer, and producer of
alternative fuels. The Dutch founded company has offices and
production sites in a number of European countries and is
developing a portfolio of new production facilities throughout the
world. N+P specializes in waste derived fuel developments, turning
non-recyclable paper and plastic waste streams into high quality
fuels, that are used to substitute fossil fuels in existing boilers
and industrial applications.
https://www.np-recycling.nl/en/
Market Information
Forward-looking statements
Certain statements in this announcement are forward-looking
statements which are based on the Company's expectations,
intentions and projections regarding its future performance,
anticipated events or trends and other matters that are not
historical facts. These forward-looking statements, which may use
words such as "aim", "anticipate", "believe", "could", "intend",
"estimate", "expect" and words of similar meaning, include all
matters that are not historical facts. These forward-looking
statements involve risks, assumptions and uncertainties that could
cause the actual results of operations, financial condition,
liquidity and dividend policy and the development of the industries
in which the Group will operate to differ materially from the
impression created by the forward-looking statements. These
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties and other factors that
could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. Given
those risks and uncertainties, prospective investors are cautioned
not to place undue reliance on forward-looking statements.
Forward-looking statements speak only as of the date of such
statements and, except as required by the Financial Conduct
Authority, the London Stock Exchange plc or applicable law, the
Company undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
JVETBBJTMTJTBMM
(END) Dow Jones Newswires
December 22, 2020 02:00 ET (07:00 GMT)
Simec Atlantis Energy (LSE:SAE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Simec Atlantis Energy (LSE:SAE)
Historical Stock Chart
From Jul 2023 to Jul 2024