Tidal energy developer Simec Atlantis Energy (SAE) announced pre-tax losses of £74 million last year, as outages at its flagship MeyGen scheme and the loss of a key development project weighed heavy on results.
Tidal energy developer Simec Atlantis Energy (SAE) has entered discussions with crowd-funding platform Abundance Investment, requesting more time to repay debentures due at the end of June.
Simec Atlantis Energy shares have slumped in early trading after it called an emergency meeting to raise £341,000 to pay out a shareholder and replace its auditor, EY.
Shares in Simec Atlantis Energy (SAE) have dropped 30% after the tidal power developer disclosed that receivers are trying to take control of a significant portion of its shares held by the Sanjeev Gupta GFG Alliance.
Global Energy Group’s new group chief executive has described the firm as “probably the best positioned organisation in the whole of the UK” to make the most of the expansion in offshore renewables.
Simec Atlantis has entered into a share place agreement with a US-based investor in a move that could raise as much as £12 million.
Simec Atlantis has praised the performance of its tidal and engineering services division after halving its pre-tax losses in a year.
Simec Atlantis Energy has entered into an agreement with a leading South Korean financial institution to fuel the transition of its flagship power station.
A Scottish project has passed a new milestone for generating “predictable” renewable energy from a tidal array.
Plans have been unveiled to build the world’s first ocean-powered data centre in the north of Scotland.
Analysts have stated that Simec Atlantis has now raised enough funds to complete its proposed £124.7m takeover of Green Highland Renewables (GHR).
SIMEC Atlantis (SAE) has unveiled designs for the world’s largest single-rotor tidal turbine, which is planned for deployment in Scotland.
Scottish renewable energy firm Simec Atlantis Energy (SAE) expects to award the FEED contract for the conversion of a Welsh coal-fired power plant in the coming weeks.