REG - SIMEC AtlantisEnergy - SAE successfully deploys upgraded turbine

SIMEC Atlantis EnergyAnnouncement

05/07/2023 08:15

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RNS Number : 0390F  SIMEC Atlantis Energy Limited  05 July 2023

5 July 2023

 

SIMEC Atlantis Energy Limited

("SAE Renewables", the "Company" and, together with its subsidiaries, the
"Group")

 

SAE Renewables successfully deploys upgraded turbine

 

SAE is pleased to announce the successful deployment of 'Turbine 2' at the
MeyGen site. The turbine has undergone significant upgrades to improve
performance and reliability.

 

One of the major steps was to convert the turbine to use a wet-mate connection
system. This dramatically reduces costs and time for future maintenance work.
This innovation has been a key development in ensuring the next phase of
turbines deployed at the MeyGen site are the most advanced and deliver the
best performance in the industry.

 

This innovation wouldn't have been possible without the support of the
EU-funded, Tidal Stream Industry Energiser Project, known as TIGER.

 

As a demonstrator project, the lessons learnt, improvements and innovations
are key to unlocking commercial and scalable projects. With this in mind, SAE
has made the decision to bring forward the reshoring of 'Turbine 4' to allow
for preventative maintenance and upgrade work. This will also continue to
allow SAE to drive the improvements, learning and data needed to unlock the
next phase of turbines at the MeyGen site.

 

Graham Reid, CEO of SAE Renewables commented:

 

"The value in MeyGen phase 1 for SAE and the industry is in proving the
technology but also in the constant innovation and lessons learnt that allow
us to unlock truly scalable and commercial projects. The successful upgrade
and deployment is a major milestone, and I wanted to add a personal thank you
to all the team who have gone above and beyond to enable this. Their hard work
and passion deserve recognition, without them, there is no industry, and they
should be incredibly proud of another milestone achieved."

 

For further information, please contact:

 

 SAE Renewables                                           +44 (0)7739 832 446

 Sean Parsons, Director of External Affair

 Strand Hanson Limited (Nominated and Financial Adviser)  +44 (0)20 7409 3494

 Richard Johnson

 Rory Murphy

 David Asquith

 Zeus Capital Limited (Broker)                            +44 (0)20 3829 5000

 Louisa Waddell

 Simon Johnson

 

Notes to Editors

SAE Renewables is a global developer, owner and operator of sustainable energy
projects with a diverse portfolio in various stages of development.

https://www.saerenewables.com/ (https://www.saerenewables.com/)

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