RNS

21st March 2022

SIMEC ATLANTIS ENERGY LIMITED
("SAE", the "Company" and, together with its subsidiaries, the "Group")

SAE successfully re-deploys world's most powerful tidal turbine

SAE is pleased to announce the successful re-deployment of its AR1500, 1.5MW turbine, at its MeyGen site. The turbine has been out of the water for upgrade and maintenance work. It is now back generating green, predictable electricity, with no visual impact.

The MeyGen site is the largest fully consented tidal stream site in the world and SAE is continuing to work with Government and industry partners to unlock its full potential, delivering a 400MW green and predictable power station.

With two of the four turbines now fully operational SAE is continuing work on the re-deployment of the other turbines, which are out the water for maintenance and repair, and expect them to be back in the water within the next 12 months.

SAE CEO, Graham Reid, commented:

"I am extremely proud of the team and all the work that went in to ensure this successful re-deployment. This is another milestone that demonstrates that the industry is continuing to learn and develop, and I am delighted that our turbine is back where it belongs. Our ambition is to deliver more turbines in the water for the benefit of our business, our economy and the planet and we continue our work in collaboration with Government and the industry to deliver this."  

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Notes to Editors

SIMEC Atlantis Energy

SAE is a global developer, owner and operator of sustainable energy projects with a diverse portfolio in various stages of development. This includes a 77 per cent. stake in the world's largest tidal stream power project, MeyGen, and 100 per cent. of the 220MW Uskmouth Power Station conversion project.

https://www.simecatlantis.com/

More on the MeyGen Project: https://simecatlantis.com/projects/meygen/

More on the Uskmouth Project: https://simecatlantis.com/project-development-operation/simec-uskmouth-power/