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Simec Atlantis Energy Limited (SAE)
Simec Atlantis Energy Limited (SAE) Share Price

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Simec Atlantis Energy Limited	LSE:SAE	London	Ordinary Share	SG9999011118	ORD NPV (DI)

	Price Change	% Change	Share Price	Shares Traded	Last Trade
	0.025	2.33%	1.10	121,853	09:33:11

Bid Price		Offer Price	High Price	Low Price	Open Price
1.05		1.15	1.10	1.075	1.075

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Steam,gas,hydraulic Turbines	8.99	-67.62	-9.40	-	7.95

Last Trade Time	Trade Type	Trade Size	Trade Price	Currency
16:35:00	O	20,000	1.15	GBX

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Simec Atlantis Energy (SAE) Latest News (3)

Simec Atlantis Energy News

Date	Time	Source	Headline
02/6/2023	12:08	ALNC	IN BRIEF: SIMEC Atlantis notes SAE Renewables debenture extension
02/6/2023	09:31	UKREG	SIMEC Atlantis Energy Limited Request to amend Debenture Deed
24/5/2023	07:00	UKREG	SIMEC Atlantis Energy Limited SAE achieves another major milestone
11/4/2023	17:10	UKREG	SIMEC Atlantis Energy Limited Grant of options CSOP and LTIP
29/3/2023	12:06	ALNC	IN BRIEF: SIMEC Atlantis Energy amends 2018 debenture, provides update
29/3/2023	07:00	UKREG	SIMEC Atlantis Energy Limited SAE update on Abundance Bonds and BESS..
23/2/2023	19:56	ALNC	TRADING UPDATES: SIMEC seeks repayment delay, Pires invests in AI
23/2/2023	07:00	UKREG	SIMEC Atlantis Energy Limited Bond repayment update & AIM Rule 26 website..
03/2/2023	07:24	UKREG	SIMEC Atlantis Energy Limited Appointment of Nominated and Financial..
20/1/2023	14:39	UKREG	SIMEC Atlantis Energy Limited Change of Adviser

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Simec Atlantis Energy (SAE) Discussions and Chat

Simec Atlantis Energy Forums and Chat

Date	Time	Title	Posts
26/5/2023	10:54	SIMEC Atlantis Energy	2,972

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Simec Atlantis Energy (SAE) Most Recent Trades

Trade Time	Trade Price	Trade Size	Trade Value	Trade Type
15:35:00	1.15	20,000	230.00	O
14:48:06	1.10	27,000	296.73	O
12:15:35	1.06	9,093	96.39	O
10:25:27	1.06	3,621	38.38	O
08:33:37	1.10	28,422	312.64	O

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Simec Atlantis Energy (SAE) Top Chat Posts

Top Posts
Posted at 17/4/2023 18:21 by our haven Positive day for the share price JakNife, so not all doom and gloom. Read Full Thread Follow Reply
Posted at 31/3/2023 14:09 by robertspc1 Share price reflects the debt situation here. Don't think the company will be able to develop Uskmouth further and expand Meygen. There is value here but the bond and other debt repayments can't be deferred for ever. Monetising or selling Uskmouth is key Read Full Thread Follow Reply
Posted at 29/3/2023 07:09 by skinny https://uk.advfn.com/stock-market/london/simec-atlantis-energy-SAE/share-news/SIMEC-Atlantis-Energy-Limited-SAE-update-on-Abunda/90623215 Abundance Bonds Further to the Company's announcement on 23 February 2023, SAE is pleased to announce that Atlantis Future Energy debenture holders have approved the amendment to the 2018 debenture deed, which will: -- Extend the maturity date from 31 March 2023 to 31 March 2024, and -- Increase the interest rate paid on the bonds from 1 April 2023 to 31 March 2024 to 10% per annum. BESS at Uskmouth SAE is pleased to report that good progress is being made on the additional 120MW Uskmouth BESS project, which re-uses the site of the old cooling towers. SAE is aiming to agree terms with a developer this year and to secure planning in Q1 2024. Read Full Thread Follow Reply
Posted at 09/12/2022 10:32 by tomboyb SIMEC Atlantis Energy Limited BESS project receives conditional planning consent 09/12/2022 10:29am UK Regulatory (RNS & others) Simec Atlantis Energy (LSE:SAE) Intraday Stock Chart Friday 9 December 2022 Click Here for more Simec Atlantis Energy Charts. TIDMSAE RNS Number : 2239J SIMEC Atlantis Energy Limited 09 December 2022 RNS 9 December 2022 SIMEC ATLANTIS ENERGY LIMITED ("SAE", the "Company" and, together with its subsidiaries, the "Group") Battery Energy Storage Project at Uskmouth receives conditional planning consent SAE is pleased to announce that the planned 230MW / 460MWh battery energy storage system at the Uskmouth site has been granted planning consent with conditions by Newport City Council. As announced on 24 May 2022, SAE has been working with Energy Optimisation Solutions ("EOS") and Quinbrook Infrastructure Partners, via their portfolio company Uskmouth Energy Storage Limited ("UES"), to develop this project which will be owned and operated by UES. Following this decision we expect the remaining contractual milestones along with financial close to be achieved in Q1-23. ENDS For more information, please contact Read Full Thread Follow Reply
Posted at 08/11/2022 07:01 by skinny https://uk.advfn.com/stock-market/london/simec-atlantis-energy-SAE/share-news/SIMEC-Atlantis-Energy-Limited-Delivery-of-MeyGen-p/89488199 Delivery of next phase of the world-leading MeyGen project continues at pace SAE, the global leader in tidal energy, is continuing to make good progress in the delivery of the first commercial-scale tidal array in the world at its MeyGen site in Scotland. The next phase at the MeyGen site will see SAE deliver an additional 28 MW of predictable, renewable power. To take overall responsibility for the delivery of phase 2, SAE is delighted to announce the appointment of Mr Mark Evans as Project Development Director. Mark brings over 20 years of renewable energy development and delivery experience, including the development of over 1 GW of wind projects. Mark brings to the team a proven track record of successfully delivering major renewable projects as well as a passion for tidal energy. SAE also announces that it has appointed Lumin Capital, an international corporate finance advisory firm, as financial advisor for MeyGen phase 2 to advise on securing the necessary financing for the project. Lumin Capital brings extensive experience of working with project developers on projects around the world to enhance shareholder value and secure funding. Lumin will be a key part of the team in ensuring the success of MeyGen phase 2. SAE has also been active at the MeyGen site, completing resource surveys which provide vital data to better understand the tidal resource across the site to allow for the detailed design of the project. In October 2022, SAE successfully deployed an acoustic Doppler current profiler ("ADCP"), a tidal flow measurement device, at the MeyGen site. The ADCP will be deployed for a month to record a full lunar cycle's worth of data. SAE has combined the fixed deployed ADCP with vessel-mounted ADCP surveys to better understand the variable flows across the site. SAE is working with Fraser Nash Consultancy and the University of Edinburgh on this analysis and the tidal array design optimisation work that will subsequently be conducted using this data. SAE remains on track to achieve financial close of the MeyGen phase 2 project in 2024 with operation starting in 2027. Read Full Thread Follow Reply
Posted at 31/10/2022 07:01 by skinny https://uk.advfn.com/stock-market/london/simec-atlantis-energy-SAE/share-news/SIMEC-Atlantis-Energy-Limited-SAE-tidal-division-s/89413942 SAE is pleased to announce that on 19(th) October 2022 it agreed to the sale of a majority (approximately 79%) stake in its Advanced Tidal Engineering and Services division ("ATES") to Proteus Marine Renewables Limited ("Proteus"). This division has been responsible for the design of Atlantis' tidal turbines to date and the deployment and recovery of all turbines at the MeyGen site. The sale has no impact on SAE's majority ownership of MeyGen plc, with ownership of the full project development rights and all four turbines at the MeyGen site remaining with MeyGen plc. SAE remains focused on the development of the MeyGen site following the recent award of a 28MW Contract for Difference ("CFD"). The sale will allow the newly incorporated Proteus to grow its product and services offering across a broader scope of marine renewables whilst keeping its immediate focus on tidal energy. SAE has retained a minority (approximately 21%) shareholding in Proteus and will continue to enjoy a strong relationship with the business and team through a Collaboration Agreement. SAE has also agreed on contracts to ensure the provision of ongoing services that will allow Proteus to provide continued support to the MeyGen operating tidal array. SAE received an initial cash consideration for the sale of GBP0.5m and will receive a deferred cash consideration of up to EUR0.5m contingent on Proteus achieving financial close of the Raz Blanchard project. The sale significantly reduces Group operating costs, and together with the net sale proceeds, provides additional funding to support Group operations and the development of key projects. In 2021, ATES's pre- tax profit was approximately GBP0.4m and its net liabilities as at 30 June 2022 were approximately GBP0.5m. The sale allows SAE to achieve its strategic objective of becoming a sustainable energy and battery storage project developer. The previous vertically integrated business model comprising a tidal turbine technology developer and a tidal project development business served its purpose in the early stages of the development of the tidal power industry. As the tidal power sector reaches maturity, as evidenced by the recent 28 MW MeyGen CFD award, it is the right time to separate the two businesses, allowing each to focus on its very different objectives. Graham Reid, CEO of SAE, commented: "We are proud to have developed the ATES business into what it is today and wish Drew and the team every success in the future. A key part of the sale is the agreements in place that ensure that it is business as usual for our existing tidal power projects but allows our focus to be on the delivery of the MeyGen site, the home of tidal energy." Drew Blaxland, CEO of Proteus commented: "The formation of Proteus and the injection of private equity capital will give both companies the focus and means to build a pathway to affordable tidal stream power. In addition to servicing its responsibilities at MeyGen, Proteus will also be focused on completing its next round of technology advancement. Key locations for this include Japan and France, where Proteus is now the majority shareholder in Normandie Hydroliennes, which aims to deploy a 12MW pilot array in 2025, as part of the EC's target of 1GW of marine energy by 2030." Read Full Thread Follow Reply
Posted at 28/4/2022 07:16 by notknowing 28 April 2022 RNS 28 April 2022 SIMEC ATLANTIS ENERGY LIMITED ("SAE", the "Company" and, together with its subsidiaries, the "Group") SAE develops new future for Uskmouth site and releases value from existing asset SAE is pleased to provide an update on the transition of the Uskmouth site into a sustainable energy park, which as a first step includes plans to deliver a Battery Energy Storage System ("BESS"). The Uskmouth site has a 230MW grid connection coupled with significant land and infrastructure that make it a prime location for the delivery of a large-scale, commercially attractive, BESS facility. The widespread integration of BESS into transmission and distribution systems is widely recognised as a key enabler of increased and more rapid integration of intermittent renewable energy into the UK electricity supply. SAE is at an advanced stage in the BESS development process having submitted the Modification Application to National Grid, which requests that the Uskmouth site's connection agreement be varied to accommodate a BESS facility. SAE has also submitted a screening report to Newport City Council in relation to the construction of a 230MW BESS facility on the former coal stockyard, and is working with an industry leading partner to expedite the delivery of the battery storage facility. With the development of a BESS at the Uskmouth site, SAE is no longer pursuing the previously announced plans for the Uskmouth Conversion Project and has notified Welsh Government and relevant stakeholders that it will be withdrawing the permit variation application. Following this decision, SAE has entered a contract to sell certain items of plant that are no longer required for its future plans of the site. A contract, worth GBP1.2m, has been awarded to a local company, Wye Valley Demolition, to remove the surplus plant and equipment. This contract brings in immediate funding to SAE's business, helping to secure SAE's broader objectives and delivering value for shareholders. Whilst SAE will not progress the Uskmouth Conversion Project, the need to repurpose coal fired power stations has never been more important in order to reduce emissions, enhance energy security, and reduce the waste being sent to landfill and polluting our oceans. Governments globally are exploring projects that can quickly deliver energy security and independence, and our coal plant conversions have the ability to deliver a quick and cost-effective solution. SAE remains committed to accelerating the transition of existing coal fired generation to lower emissions fuel and is working with it partners to take the vital lessons learnt to other countries where it can make the most impact. Graham Reid, Chief Executive Officer of SAE commented: "The team and I are tremendously excited about this next step for the Uskmouth site, which will help deliver the UK's net zero targets, release important value for the business and allow the team to build on the lessons learnt to help countries around the world to achieve the targets of reducing reliance on coal, increasing energy security, and finding long term solutions to the growing waste problem." Read Full Thread Follow Reply
Posted at 28/4/2022 07:01 by skinny SAE develops new future for Uskmouth site. SAE develops new future for Uskmouth site and releases value from existing asset SAE is pleased to provide an update on the transition of the Uskmouth site into a sustainable energy park, which as a first step includes plans to deliver a Battery Energy Storage System ("BESS"). The Uskmouth site has a 230MW grid connection coupled with significant land and infrastructure that make it a prime location for the delivery of a large-scale, commercially attractive, BESS facility. The widespread integration of BESS into transmission and distribution systems is widely recognised as a key enabler of increased and more rapid integration of intermittent renewable energy into the UK electricity supply. SAE is at an advanced stage in the BESS development process having submitted the Modification Application to National Grid, which requests that the Uskmouth site's connection agreement be varied to accommodate a BESS facility. SAE has also submitted a screening report to Newport City Council in relation to the construction of a 230MW BESS facility on the former coal stockyard, and is working with an industry leading partner to expedite the delivery of the battery storage facility. With the development of a BESS at the Uskmouth site, SAE is no longer pursuing the previously announced plans for the Uskmouth Conversion Project and has notified Welsh Government and relevant stakeholders that it will be withdrawing the permit variation application. Following this decision, SAE has entered a contract to sell certain items of plant that are no longer required for its future plans of the site. A contract, worth GBP1.2m, has been awarded to a local company, Wye Valley Demolition, to remove the surplus plant and equipment. This contract brings in immediate funding to SAE's business, helping to secure SAE's broader objectives and delivering value for shareholders. Whilst SAE will not progress the Uskmouth Conversion Project, the need to repurpose coal fired power stations has never been more important in order to reduce emissions, enhance energy security, and reduce the waste being sent to landfill and polluting our oceans. Governments globally are exploring projects that can quickly deliver energy security and independence, and our coal plant conversions have the ability to deliver a quick and cost-effective solution. SAE remains committed to accelerating the transition of existing coal fired generation to lower emissions fuel and is working with it partners to take the vital lessons learnt to other countries where it can make the most impact. Graham Reid, Chief Executive Officer of SAE commented: "The team and I are tremendously excited about this next step for the Uskmouth site, which will help deliver the UK's net zero targets, release important value for the business and allow the team to build on the lessons learnt to help countries around the world to achieve the targets of reducing reliance on coal, increasing energy security, and finding long term solutions to the growing waste problem." Read Full Thread Follow Reply
Posted at 22/3/2022 09:48 by manual dexterity IMEC Atlantis Energy Limited SAE signs Heads of Terms 22/03/2022 9:45am UK Regulatory (RNS & others) Simec Atlantis Energy (LSE:SAE) Intraday Stock Chart Tuesday 22 March 2022 Click Here for more Simec Atlantis Energy Charts. TIDMSAE RNS Number : 5880F SIMEC Atlantis Energy Limited 22 March 2022 RNS 22(nd) March 2022 SIMEC ATLANTIS ENERGY LIMITED ("SAE", the "Company" and, together with its subsidiaries, the "Group") SAE signs Heads of Terms to progress Uskmouth Sustainable Energy Park SAE is continuing to progress the development of the Uskmouth site into a sustainable energy park. To facilitate this, SIMEC Group, a c.29.7% shareholder in the Company and which sold the Uskmouth project to SAE, has agreed to provide the necessary consents for such development pursuant to rights that it holds under a lease on land at Uskmouth and under a debenture for an existing GBP2 million convertible loan from SIMEC Group to SAE. SAE has entered into a Heads of Terms with the SIMEC Group, which commit SAE to establishing a SPV, owned 85% by SAE and 15% by the SIMEC Group, which will hold the land and assets required to progress sustainable energy projects at the Uskmouth site. An agreement will be put in place providing for a share of revenue from any projects realised at the site in accordance with the SPV shareholding percentage and for full step-in rights for either party in the event of insolvency of the other party. SAE understands that the SIMEC Group (via SIMEC UK Energy Holdings Limited) owns approximately 29.7% of the issued share capital of SAE. As a result, pursuant to AIM Rule 13, the entry into the agreement described above will be deemed a related party transaction. The Directors of SAE (all of whom are independent for these purposes) consider, having consulted with SAE's Nominated Adviser, Investec Bank plc, that the terms of the agreement are fair and reasonable insofar as the shareholders of SAE are concerned. For more information please contact: +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 Ben Griffiths ---------------------- Arden Partners PLC - Joint Broker +44 (0) 20 7614 5900 ---------------------- Ruari McGirr Richard Johnson Simon Johnson ---------------------- Read Full Thread Follow Reply
Posted at 16/12/2021 07:18 by david gruen 16 December SIMEC ATLANTIS ENERGY LIMITED ("SAE", "Atlantis", the "Company" and, together with its subsidiaries, the "Group") Company Update Uskmouth update SAE is engaging with Welsh Government on the application to vary our existing environmental permit for the Uskmouth power station. Having gone through the process with Natural Resource Wales (NRW) and demonstrated that the conversion will be fully compliant, SAE looks forward to providing all the information to Welsh Government to allow it to make its decision. SAE is working with Welsh Government to understand the timetable in which a decision can be made. SAE is exploring opportunities to best extract value from the Uskmouth site which could be complimentary to the conversion or stand alone. The options being considered are primarily forms of renewable energy generation which make use of some of the existing infrastructure, available land, and grid connections. The options being considered are in-line with UK and Welsh Government policies. International opportunity Following agreement at COP26 to the phasing down of coal usage, the opportunity for the conversion of coal fired power stations to fuel pellets is significant in accelerating and supporting this global transition. SAE is working with its partners to identify further opportunities internationally where this exciting solution can be quickly deployed. Tidal update In November 2021, SAE entered into a collaboration agreement with fellow world leading tidal energy developer, Nova Innovation. The agreement will see the companies work together to deliver tidal turbines at the MeyGen site and beyond. SAE and Nova are the two leading players in tidal stream energy and operate the world's first offshore tidal array (installed by Nova in Shetland in 2016) and the world's largest tidal array (the 6MW MeyGen phase 1 project developed by Atlantis in the Pentland Firth, which includes the world's most powerful tidal stream turbines). SAE and Nova have delivered over half of the tidal stream devices operational worldwide and are developing sites in the UK, Canada, Japan, and France. Both companies deploy subsea turbines which generate predictable, renewable power with no visual impact. SAE and Nova welcomed the announcement by the UK Government to put a dedicated budget in place for tidal stream energy in the upcoming Contracts for Difference Allocation Round 4. This signal of support is a welcome boost to the industry. MeyGen Operation SAE continues to work on the re-deployment of the three turbines, out the water for maintenance, at phase 1 of MeyGen. The re-deployment of one of the turbines was set back following a crane failure on the vessel being used for its re-deployment. SAE is working with the vessel operator to determine the next appropriate time for deployment. SAE is working with stakeholders to ensure the remaining two turbines can return to operation as quickly as possible. The operational fourth turbine continues to exceed expectations and demonstrates the viability of tidal turbine technology. Financial update The Company has put in place actions that will materially reduce headcount and monthly operating costs. The impact of these actions will be seen in our financial year commencing 1 January 2022. Cash proceeds from the disposal of GHR, announced on 13 December 2021, combined with the reductions in operating costs, provide the business with the working capital headroom to deliver on the opportunities for value from the Uskmouth site noted above and to deliver on further project opportunities. Both activities are important for further necessary cash generation during 2022. The Company noted in the announcement accompanying the Group's half year results on 28 September 2021 that the business remains dependent on external financing to develop it key projects. In combination with the opportunity to deliver value from the Group's assets, the Board is considering a range of further funding options. Read Full Thread Follow Reply

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