For more than a decade, Atlantis has been actively involved in the commercialisation of tidal power technology and the development of tidal power projects around the world.
The Atlantis story has its genesis in Australia, where the early years of the company were spent developing tidal current turbine prototype designs and concepts. Scaled testing commenced in 2002 and by September 2006, after multiple iterations and some of the largest ocean based tow-testing programmes ever conducted at the time, Atlantis assembled and installed a 100kW Aquanator™ device, becoming one of the first companies in the world to successfully connect a tidal current turbine to grid at our dedicated test facility in San Remo, Victoria, Australia. The Aquanator™ system at San Remo provided valuable real world testing capability for our R&D, installation and commissioning teams.
In 2006, Atlantis established operations in Singapore, attracted by high quality R&D capabilities, as well as the integrity of the intellectual property protection laws.
As power began flowing into the grid at San Remo, Atlantis accelerated its R&D efforts. This led to the development of the AN series tidal power system. Instead of building scaled models or relying solely on CFD analysis and computational simulations, Atlantis took the decision to carry out tow testing the 150kW 30 tonne Nereus™ device in the open ocean. The first tow test took place in Victoria, Australia in December 2007 and the results of this testing regime were independently verified by Black & Veatch.
In May 2008, the Aquanator™ turbine was removed and the San Remo site was decommissioned to allow for installation of a replacement system. The 150kW Nereus™, now known as the AN150 tidal current turbine, was installed and commissioned at the site in May 2008.
In July 2008 we produced an upgraded version of the AN150 which we again demonstrated through tow testing, breaking our previous power output records and demonstrating an increase in water-to-wire efficiency.
In 2008, Atlantis unveiled its first AS series turbine, then known as Solon. The AS140 was tow tested in Singapore and Australia and was independently verified as a market leading device in efficiency terms.
Also in 2008, Atlantis opened an office in London to focus on growing our origination and project management business arms in UK and European waters. By 2009, we had outgrown our project office and opened an additional London office close by.
In 2010, Atlantis was part of a consortium awarded the development rights for the Inner Sound of the Pentland Firth by The Crown Estate. This site is home to the MeyGen project, which we believe to be the largest planned tidal stream project in the world. In 2010, Atlantis also commenced its testing operations at the EMEC facility in Scotland.
In 2011, an Atlantis led consortium which included Lockheed Martin Corporation and Irving Shipbuilding secured a berth at the FORCE tidal turbine testing facility in Nova Scotia and, later in the same year, Atlantis was also awarded the ETI TEC contract to conduct industry led research into rapid cost of energy reduction for the tidal power sector. In August the AR1000 was successfully deployed at the EMEC facility and was subsequently connected to grid for the first time.
In 2012, Atlantis signed strategic agreements with CECEP and Dongfang Electric Machinery Company Ltd for the development of tidal current power in China and became the first tidal power developer to successfully complete turbine testing at the new NaREC tidal turbine testing facility in Blyth, UK.
During 2013, Atlantis continued the development of its next generation of variable pitch tidal turbine system whilst successfully completing Phase 1 of the ETI TEC programme. In October Atlantis became the 100% owner of MeyGen, shortly after it was confirmed that the project had been awarded its final regulatory consents, become the largest fully consented tidal project in Europe.
In 2014, Atlantis became the first tidal power company to successfully complete an IPO on the London AIM exchange and commenced trading as a public company in March 2014 using the ticker ARL:LN. In September 2014, Atlantis achieved another significant industry milestone, successfully completing the £51.3m financial close of Phase 1A of the MeyGen project. Atlantis was also awarded a £7.5m contract to deliver Phase 2 of the ETI StreamTec project and significant progress was made with technology partners Lockheed Martin on the development of the 1.5 megawatt AR1500 tidal turbine system. In late 2014, Atlantis signed a lease for a berth at the FORCE facility in Nova Scotia, Canada and was awarded a fed in tariff of C$530/MWhr for 4.5megawatts of installed capacity. Construction of the MeyGen project then commenced just prior to Christmas in late 2014.