Weekly Intelligence Brief

James Forbes joins Atlantis Resources

26 February 2010

Atlantis Resources Corporation has appointed James Forbes as a director on its main Board.

In addition, Forbes, who ran Scottish & Southern Energy as CEO until 2002, becomes chairman of the company’s UK-based marine power technology and project origination arm.

The company is counting on Forbes’ utility sector experience. He was the architect of the £5 billion merger of Scottish Hydro and Southern Electric in 1998, which created Scottish & Southern Energy. He was also formally the non-executive chairman of Thames Water Plc and a non-executive director of Firstgroup Plc.

The company plans to take significant steps during the next 12 months towards the deployment of commercial scale tidal power farms in UK waters.

Forbes plans to commercialise Atlantis’ tidal current turbine technology. He will seek opportunities for the same within the global utility sector. He will have an initial focus on projects in UK waters through Atlantis’ marine power origination and project management arm, acquired from Morgan Stanley in 2008.

Atlantis Resources’ technology was recently chosen to share £22 million funding from the Carbon Trust’s Marine Renewables Proving Fund (MRPF) along with other five other companies. The company, which received £5.1 million in funding, is going to use these funds for the development of its  1MW AK-1000 turbine.

Read more:

Atlantis Resources: http://social.tidaltoday.com/search/node/Atlantis+Resources

MRPF: http://social.tidaltoday.com/search/node/MRPF