|So Atlantis is to create a new 'division' , and the price jumps 16%. Not sure it's merited, but who am I to complain
|Potterm as no one has respoded to your post -i'll have a crack.This is one of my "blue sky " portfolio based on the assumption that SOME new technologies will emerge as winners over the long-term , maybe 5-10 years.
In its favour is the evidence that the technology works , it is now generating electricity from the pilot project in a most favourable area,
It is receiving funding from the EU which will allow the build out of a slightly different product,
Alternative energy sources are very much the flavour of the month, solar, wind etc though thes can be unpredictable, this has the advantage of predictability, though, it is of course intermittent, I can envisage a series of time-staggered such systems synchronised with the tides around the UK and every where else on the planet.
I saw and was impressed by the Rance estuary project in France some decades ago and am amazed that tidal energy has not been higher on the world agenda.
As you surmise the problem is that it is clearly uneconomic at the moment, but remember the predictions that the world would only need a dozen or so computers made in the last century!!
Continued movement away from fossil fuels is unlikely to reverse and a less intrusive , more reliable source of renewable energy is hard to find.
I therefore think that there is a chance , and it may be no more than 1 in 4 maybe 1 in 10 that a decade from now tidal energy will be a significant element in global energy supply - if that happens then ARL's experience and expertise will have earned them a key position in that supply , and possibly a significant market cap.
FWIW I also own BKY,SXX,PRTC,HUR and am looking at Graphene stocks, lithium and palladium miners, copper miners and biotechs to build my portfolio of long-term high potential reward stocks|
|Today's news EU funding of 20 mill euros for phase 2 of Maygen.|
|Sounds as though you have already decided - quite detailed on the negative.|
|Looking into this as one of my latest Investments but haven't been able to find anything that clearly presents how profitability will be achieved. The whole thing seems to have relied on £millions of Investment generating no actual Revenue and no likelihood of significant Revenue or any indication of likely Profitability for many, many years.
I'm assuming that if MeyGen grows and becomes fully operational in a highly efficient manner, it could lead to a snowball effect in terms of additional Projects at suitable Locations globally ?... but that looks to be at least 5 years away with no Return in the meantime.
Can anybody offer me any other view that I've overlooked during my Research ?|
|Fund raising is the reason for the drop, maybe around 40 pence a share|
|Government funding cuts, looks like they may have to fight a bit more for future project funding.
|It's down about a third since 'first power' announcement. It doesn't make any sense to me unless someone knows something we don't.|
|Why did this fall out of bed?|
A tidal power scheme in the Inner Sound of Scotland's Pentland Firth has generated electricity for the first time.
A single turbine in Atlantis Resources' MeyGen project off the Caithness coast has been exporting electricity.
The device is the first of four 1.5MW tidal stream turbines that are to be installed in the Inner Sound.
Atlantis hopes to expand the project to have dozens of turbines generating about 400MW of electricity...|
|Well done Atlantis. Good luck all shareholders.|
|"It's especially exciting to be making this announcement on the morning after the first "super moon" in 68 years - last night, those of us with clear skies were able to get a good view of the powerhouse behind tidal energy, and be reminded that even in times like these there are still predictions we can rely on."
|Atlantis Resources Limited
("Atlantis" or the "Company")
MeyGen Update - First Power Generation
Atlantis, a global leader in the tidal power sector, is delighted to announce that first power has been produced from the MeyGen project site in the Pentland Firth, Scotland.
The turbine, supplied by Andritz Hydro Hammerfest ("AHH"), was successfully installed last week and plugged into the pre-laid cable which connects back to the onshore control centre and grid export point, which has already been commissioned and energised.
Both the turbine and cable installation works were completed by James Fisher Marine Services Limited, using the Olympic Ares. The turbine installation followed a successful offshore campaign in October during which GeoSea NV installed all four foundation structures using its jack-up vessel, the Neptune.
Over the past few days, AHH has been working to establish communications with the turbine and verify that the on-board safety and monitoring systems are operational. Now, working with ABB Limited as the suppliers of the onshore frequency converters, the AHH team has begun the process of powering up the turbine to tune the control system for optimised generation. During this programme, the project is exporting electricity for the first time, using only the tidally driven water flows which rush through the Inner Sound of the Pentland Firth. This follows an extensive onshore turbine testing and commissioning regime prior to final deployment.
This turbine is the first of four 1.5MW tidal stream turbines to become operational at the site for the first 6MW phase of a total build out of almost 400MW. Construction for the next 6MW phase, which benefits from a EUR17 million grant from the EC's NER300 fund, is due to commence next year.
Atlantis is the indirect majority owner of the MeyGen project through its 92% shareholding in Tidal Power Scotland Limited, which owns 83.5% of MeyGen Limited alongside Scottish Enterprise (16.5%). The first phase of the MeyGen project has been funded through a combination of debt, equity and grants from Atlantis, Scottish Enterprise, Highlands and Islands Enterprise, The Crown Estate and the former Department for Energy and Climate Change.
Atlantis CEO Tim Cornelius said:
"This is the moment we have been working towards since we first identified the MeyGen site back in 2007, and I am immensely proud of and grateful for the remarkable team of people who have contributed to this milestone - our suppliers, our funders, our supportive shareholders, and of course the project team, whose commitment, tenacity and belief have been without equal.
"I look forward to bringing more news of the project development over the coming weeks and months as we move into the full operational phase. It's especially exciting to be making this announcement on the morning after the first "super moon" in 68 years - last night, those of us with clear skies were able to get a good view of the powerhouse behind tidal energy, and be reminded that even in times like these there are still predictions we can rely on.
"The success of this first phase is a foundation for the tidal industry to build upon to ensure we develop a new energy sector which can deliver clean, predictable and affordable power from the UK's own abundant resources. When it comes to energy, we think consumers should be asking for the moon, and we know how to harness it."
Atlantis looks forward to updating the market again in December on project progress.|
|That's how it reads to me bamboo|
|Anyone able to make comment about the rns yesterday?
"the removal of the previously pledged ring-fenced allocation is disappointing"
Does this mean that Tidal energy has to compete with wind and other forms of green energy at the same level?|
|Seems that James Fisher is using Olympic Ares for installing the turbines starting today. JF are intalling three of the four, with the fourth by Geosea.|
|Multi Purpose Offshore Vessel 'Olympic Ares' docked at Nigg recently. I know it's a busy port, but speculate it could be the type of vessel that might be used to instal our turbines.|
|Ex, I see the end of day close on Friday above the neckline of the INVH&S as making a valid continuation pattern. Target approx 82. Bulkowski describes it here, mainly as a reversal pattern,
|Only an educated guess that lower volume on the right shoulder indicates reducing selling pressure (sellers drying up)|
That's the first time I've heard that description/terminology. What does it suggest to you , please ? All usual caveats and disclaimers , of course !
|Confirmed Inverse Head and Shoulders on the chart.|
|Thanks for the links. Looking to dip my toes here.|