Simec Atlantis Energy Share Discussion Threads

[wheeze] 06/8/2020 08:11

The U.K. government needs to realise that they need to support alternative energy projects, particularly those on the scale of Simec where there is an element of financial risk. We have world leading technology and should attract much higher valuations. Instead, they are forced to go to the market, cap in hand to raise a measly 6 million.Wake up U.K. plc.

[jpuff] 06/8/2020 08:03

They're not exactly going about the right way of building up a long term loyal shareholder base by shafting LTH's in this way! Shan't be adding any myself in the placing.

[gooner1886] 06/8/2020 07:45

Awful discount

[the deacon] 06/8/2020 07:43

£6m raise. Cash burn last two years average of circa £30m. £4.5m cash at year end. Want to invest in this sort of renewable business, but it's money down the drain at the moment. They'll need cash again in 6 months or so

[wilc42] 31/7/2020 09:03

This is ridiculous, wake up sales team. FFS

[blueball] 30/7/2020 14:10

My target is 30p in the short term.

[rogerramjett] 29/7/2020 08:21

Dalep. Your point is ?

[dalep716] 29/7/2020 07:27

Looks good, was going to invest today but take a look at Avacta quickly ...

[blueball] 28/7/2020 08:49

Stay long.

[beagrie] 28/7/2020 07:39

Well i am sat waiting with some more cash for this one, my thoughts were it might drift down a bit with them effectively moving the date for financial close on Uskmouth on a further 3 months. Having said that its still not too far away and whatever I think it will probably do the opposite,normaly does. Looks very very interesting though with the increasing imputus in renewable energy stocks.

[walter walcarpets] 27/7/2020 21:31

Agreed. As turnaround plays go, this is as good as it gets imo. NAI, DYOR etc

[rogerramjett] 27/7/2020 21:23

I only took a few shares this morning.looks really interesting and could be highly cash generative in a few years.

Looks great value at this price considering the project portfolio

[rogerramjett] 27/7/2020 20:51

Walter wal. Do you think it will make a difference? Its certainly positive.

Guess we will find out in the morning

[walter walcarpets] 27/7/2020 18:35

Interesting start in the morning. I'll be up early.

[walter walcarpets] 27/7/2020 18:35

Interesting start in the morning. I'll be up early.

[rogerramjett] 27/7/2020 17:33

yes. I saw that. Great sign that a fund is buying in on the open market.

[barts] 27/7/2020 17:00

5.1131% of the company.....now that's what I call a BUY!!!

[clabburn] 27/7/2020 10:06

I think so. Im very bullish about the next 12 months. I think the low share price was a simple case of the market being understandably cautious about their plans. The tidal business has been stuck in a sort of purgatory since the UK government essentially cut off support and I think people needed to see evidence that the company was capable of pulling off something like Uskmouth. That one feels tantalisingly close now and tidal prospects are looking up too. All being well they could go from a very small company with just 6MW of generation capacity to 300MW+ in just 2-3 years backed up with a rapidly growing pipeline of international projects. Patience is certainly required for this one though!

[rogerramjett] 27/7/2020 09:23

Thanks. I assumed finance would be the option due to size (£189m construction cost ?) and equity for smaller projects.

Agree it would be better to do that once share price is higher. Reading some info it seems the BoD don't understand why the MCap is so low. Maybe there will be some good PR on its way.

[clabburn] 27/7/2020 09:16

Yes market cap is still at bargain prices. This was always a symptom of the challenges/risks of getting new projects energised but they have made undeniable progress in the past 12 months de-risking Uskmouth and Blanchard and possibly Meygen now look very promising. For funding we dont know full details yet. Their balance sheet is still small which probably doesnt help them in unlocking big finding but for smallish tidal projects like stage 1 of Blanchard it looks like a combination of grant money (e.g. the saltire fund) plus equity will be the route taken but hopefully not before the share price has had a sharp move upwards. For projects the Uskmouth the only option is project finance of some sort and there are several options open to them here.

[rogerramjett] 27/7/2020 08:59

Taken a small position here this morning. Interesting company with lots going on.

How is this all financed ? Can't seem to find this information

[barts] 26/7/2020 10:33

Surely our market cap should be a lot higher than where we are now....

Tidal energy company SIMEC Atlantis Energy (Atlantis) has said that the Prefecture de la Manche in France has approved the transfer of the lease to develop a 12MW tidal power project in Raz Blanchard from ENGIE to Normandie Hydroliennes.

Normandie Hydroliennes is the marine energy development company set up between Atlantis, the Development Agency for Normandy (AD Normandie), the regional agency for economic development in Normandy, the regional investment fund Normandie Participations and local industrial group EFINOR, which provides high-end engineering services and manufacturing support for the naval, nuclear, and aerospace industries.

Normandie Hydroliennes has been working with the French Environmental and Energy Management Agency (ADEME) and all relevant government ministries over the past 12 months to obtain the relevant approvals for the transfer for what will be the first stage of a potential multi-hundred-megawatt project marine energy project in Raz Blanchard, Atlantis said.

Raz Blanchard, Lower Normandy, is France's strongest tidal current and holds 50% of the national tidal power potential. Owning 49% of the JV, Atlantis is the main shareholder and is seeking to expand this collaboration into a larger tidal project in Normandy and Alderney territorial waters. Normandie Hydroliennes has the long-term goal to harness up to 2GW of power from the Alderney Race, the eight-mile strait that runs between Alderney and La Hague, France, as well as more than 1GW of resource from adjacent concessions under the control of the States of Alderney.

Tim Cornelius, CEO of SIMEC Atlantis Energy, said: "We are delighted to have received the relevant approvals to transfer this lease which will allow us to now immediately progress with the development of one of the largest tidal power arrays in Europe. The territorial waters of Normandy have huge untapped tidal power resource and material progress can now be made in setting up the infrastructure and supply chain required in Normandy to deliver this €50+m project.

"This approval will allow us to get on with the task of delivering sustainable power to this region while also creating local jobs and attracting substantial investment in the area. Normandie Hydrolienne is committed to ensuring that this array is the catalyst for the installation and delivery of at least 1GW of operational capacity in the Alderney Race, which could be quickly expanded to 2GW with the right investment, government support and collaboration with developers from across France."

[barts] 26/7/2020 10:24

Not sure if this has been posted before, but well worth a read....

Tidal energy developer MeyGen Ltd has been awarded a £1.545 million grant from the Scottish Government's Saltire Tidal Energy Challenge Fund.

The proceeds will be used to develop a subsea tidal turbine connection hub for the next phase of development of the MeyGen tidal power array, the world's largest tidal stream power project, SIMEC Atlantis Energy, the parent company of MeyGen Ltd. said.

The MeyGen Phase 1A, located off the northern tip of Scotland, formally entered the 25-year operations phase in April 2018.

The Saltire Tidal Energy Fund is a £10 million fund supporting the commercial deployment of tidal energy generation in Scottish waters through driving innovation and a reduction in the cost of electricity generation.
Tidal energy developer MeyGen Ltd has been awarded a £1.545 million grant from the Scottish Government's Saltire Tidal Energy Challenge Fund.

The proceeds will be used to develop a subsea tidal turbine connection hub for the next phase of development of the MeyGen tidal power array, the world's largest tidal stream power project, SIMEC Atlantis Energy, the parent company of MeyGen Ltd. said.

The MeyGen Phase 1A, located off the northern tip of Scotland, formally entered the 25-year operations phase in April 2018.

The Saltire Tidal Energy Fund is a £10 million fund supporting the commercial deployment of tidal energy generation in Scottish waters through driving innovation and a reduction in the cost of electricity generation.

The awarded funding will be used to design, procure, install, connect and commission the subsea hub and associated subsea connection infrastructure, which is a key enabler for future array phases, as it will deliver cost reductions in power production by connecting multiple turbines to a single export cable, Atlantis said.

"The technology leverages the innovative design of the Atlantis turbine wet mate connection system, which enables rapid and automatic connection and disconnection of power and communication infrastructure offshore without any intervention," it said.
The awarded funding will be used to design, procure, install, connect and commission the subsea hub and associated subsea connection infrastructure, which is a key enabler for future array phases, as it will deliver cost reductions in power production by connecting multiple turbines to a single export cable, Atlantis said.

"The technology leverages the innovative design of the Atlantis turbine wet mate connection system, which enables rapid and automatic connection and disconnection of power and communication infrastructure offshore without any intervention," it said.

[blueball] 24/7/2020 19:35

Buy signal.