Atlantis Resources secures €7.7m from European Commission

AIM listed Atlantis Resources Limited has recently announced that it has successfully secured €7.7m in grant funding from the European Commission’s Seventh Framework Programme for Research and Technological Development.

By K.Steiner-Dicks on Feb 26, 2014

The EC funding will support deployment of multi tidal-turbine arrays at the business’ MeyGen tidal energy site and will be supported by DHI, Royal HaskoningDHV and the University of Edinburgh.

Scheduled to run from 2014, the programme will facilitate the design, installation and operation of the company’s 1.5MW AR1500 tidal energy turbines in the Inner Sound of the Pentland Firth, off the north coast of Scotland.

Tim Cornelius, Atlantis Chief Executive Officer, said that the award will help to catalyse the tidal industry’s development, providing a credible and robust transition pathway from single turbine demonstration units, to the deployment of multi-hundred turbine arrays in Europe and across the wider international market.