TIDMSAE
SIMEC Atlantis Energy Limited
03 June 2021
3 June 2021
SIMEC ATLANTIS ENERGY LIMITED
("SAE", the "Company" and, together with its subsidiaries, the
"Group")
SAE Partners with Remediiate
SAE, the global sustainable energy generation company and
technology developer, is pleased to announce that it has entered
into a Partnership Agreement with Remediiate (UK) Ltd
("Remediiate"), an integrated sustainable developer of patented
technologies that utilise waste gases to deliver high value algae
products. This technology has the potential to not only decarbonise
the emissions from the Uskmouth conversion project, an important
milestone towards making the project carbon negative, but also
creates a high value economic product.
Our partner Remediiate will deploy an innovative product that
tackles two of the biggest problems the world is facing, namely the
journey to 'net zero' carbon and feeding a growing, global
population. Using patented technology and highly specialized
processes, their algae plants convert CO(2) , alongside other
damaging greenhouse gasses, and use them to produce algae. The
algae produced can then be used as feedstock for food and feed
production.
This process is modular, allowing for a rapid and scalable
rollout of the technology. This technology will be applied to SAE's
Uskmouth project and will further enhance the waste and greenhouse
gas emission reductions. This project is a transformational
technology partnership and will strengthen Newport and Wales's
position as a global leader in innovation and the journey to net
zero.
The initial focus of the partnership is working on the
development of a facility to be co-located with SAE's Uskmouth
power station. This pilot plant will be scaled up over time with
the intention of making the power station carbon neutral by 2025
and carbon negative by 2030. This technology not only complements
the ongoing work that we are doing as part of the South Wales
Industrial Cluster ("SWIC") carbon capture usage and storage
project we announced on 17 March 2021, but also accelerates efforts
to bring the UK to 'net zero' across two important sectors.
While the initial focus of this partnership is to deliver algae
plants for the decarbonisation of Uskmouth, including securing all
of the necessary planning, permitting and front-end engineering to
accommodate Remediiate's facility, the parties intend to work
collaboratively across other geographical markets to help fast
track emissions reductions using these complimentary technologies
and processes. The technology and processes being developed at
Uskmouth will offer immediate benefits for owners and operators of
existing coal-fired generation to rapidly reduce their reliance on
coal and reduce their emissions in an economically attractive way,
as well as making material reductions in the amount of material
that is sent to landfill.
SAE and Remediiate recognise that this project would provide
Newport's expanding technology companies with access to vital base
load electricity while also providing a solution to help remove
emissions from the crucial agriculture sector. This means that the
Uskmouth project would deliver for every aspect of the net zero
journey.
Graham Reid, CEO of SAE commented:
"I am incredibly excited about this partnership with Remediiate
and its ability to make our flagship Uskmouth project carbon
negative by 2030. The importance of helping other sectors, such as
agriculture, decarbonise cannot be overstated, and this bold and
innovative partnership epitomises everything that SAE stands
for.
I am also exceptionally pleased that this helps support the
growing innovation hub that we are building in Wales.
Taking transformative steps across electricity generation beyond
carbon neutral will be a key requirement in achieving 'net zero by
2050' and we believe that the Uskmouth project is now clearly a
critical centre piece to these plans, and a model that can be
replicated globally.
We at SAE are proud to be working with a high-quality and
passionate partner in Remediiate and look forward to continuing to
update all our stakeholders along this journey."
Carlos de Pommes, CEO of Remediiate commented:
"We are delighted to be collaborating with SAE whose long track
record of innovation and delivery in cutting edge renewable
technologies meant they are the perfect fit for us to work
alongside the technology we are deploying.
The promise of this combined project is truly exciting, and we
believe will be a global game changer and critical component in our
shared net zero ambitions and a sustainable future. We were
extremely impressed with the Uskmouth conversion project, its
contribution to the much needed transition away from coal, and the
significant benefits it brings to the local area.
We now look forward to working more closely alongside the SAE
team to deliver what we believe is one of the most exciting
decarbonisation projects globally."
Jessica Morden MP for Newport East, commented:
"I would like to congratulate SAE and Remediiate in forming this
partnership, which presents an exciting opportunity for Newport and
demonstrates what can be achieved through innovation and
collaboration. This announcement demonstrates Newport's strength as
a place to invest and create jobs in these exciting green
technologies. I look forward to seeing how this new partnership
develops locally."
For more information please contact:
+44 (0) 7739 832
SIMEC Atlantis Energy Limited 446
Sean Parsons, Director of
External Affairs
----------------------
Investec Bank PLC - NOMAD +44 (0) 20 7597
and Joint Broker 5970
----------------------
Jeremy Ellis
Sara Hale
Ben Griffiths
----------------------
Arden Partners PLC - Joint
Broker +44 (0) 20 7614 5900
----------------------
Ruari McGirr
Richard Johnson
Simon Johnson
----------------------
Remediiate +44 7906 232529
----------------------
Shelia White, Head of Strategic
Partnerships
----------------------
Notes to Editors
About 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, 100 per cent. of the
220MW Uskmouth Power Station conversion project and 100 per cent.
of Green Highland Renewables, a leading developer of mini-hydro
projects.
More on SAE: 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/
About Remediiate
Founded in 2017, Remediiate's mission is: Clean the Planet |
Feed the World. Remediiate is a UK based, European-focussed CO2
abatement firm leveraging the power of nature's rock stars - algae
- to simultaneously solve two of the world's greatest challenges:
Net Zero and the supply of alternative protein for the feed
industry. Remediiate deploys world class technology, partnering
with Sustainability experts Anthesis, Pond Technologies (Canada)
and Nutralight (Pencoed).
More on Remediiate: www.remediiate.com
More on our Mission: YouTube: Clean the Planet | Feed the World
( https://youtu.be/0lJODToS4bs )
Contact: Shelia White, Head of Strategic Partnerships +44 7906
232529 swhite@remediiate.com
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