Atlantis Resources to enter French tidal power market

Marine engineering company Innosea is to advise Atlantis Resources on how the tidal engine company can enter the french market.

Atlantis claims that France has the second largest tidal power resources in Europe and is aiming to develop the first tidal array sites in French waters.

Innosea will advise Atlantis on how to build a French supply chain plan for the manufacture, assembly and distribution of its AR1500 tidal turbines as well as on transportation and logistics, in Brittany, Normandy, Aquitaine, Pays-de-la-Loire and Hauts-de-France.

So far, Innosea has analysed vessel fleets, operational ports, marshalling yards and logistics companies to prepare a local deployment plan for tidal commercial projects in France for Atlantis. It is currently assessing local partners for civil engineering works, composite, steel or concrete fabrication, turbine assembly, testing and commissioning and component manufacture.

AIM-listed Atlantis is already working with Innosea in the UK on the delivery of MeyGen phase 1B, a multi- turbine array to be located adjacent to Phase 1A the in the Inner Sound of the Pentland Firth in northern Scotland.

Atlantis chief executive Tim Cornelius said: "We want to make material progress during 2017 with respect to project identification. From our perspective, deployment of generating assets is possible in one to two years' time. The AR1500 turbine system is already producing commercial scale power in Scotland.”

Innosea’s marine engineering chief executive Hakim Mouslim said that France “has strong industry partners which we have identified for Atlantis in order to maximize the industrial local content. The industrial plan for France we have delivered is able to lead to the set-up of dedicated construction and assembly plants for Atlantis if the project pipeline if sufficient”.

Shares in Atlantis Resources were up 1.64% to 55.90p at 0802 GMT.