7th Apr 2014 10:12
LONDON (Alliance News) - Atlantis Resources Ltd Monday said it has expanded its strategic partnership with Dongfang Electrical Machinery Co Ltd, so that it can test onshore tidal turbines in Hangzhou in China.
The Singapore-based company, which is engaged in the development of tidal current power renewable energy, said that the testing programme will be carried out prior to the deployment, later this year, of its single rotor 1 megawatt AR1000 turbine at an offshore demonstration project, developed by the China Energy Conservation and Environmental Protection Group.
The AR1000 is a commercial scale 1 mega watt horizontal axis turbine designed for open ocean deployment. It features a single rotor set with highly efficient fixed pitch blades, which offer a cost saving over variable pitch blades for less extreme site conditions.
Atlantis said that the AR1000 will be the first commercial scale tidal stream turbine to be deployed in China.
"As well as helping to develop our supply chain and identify sales and project development opportunities in China, the agency agreement will have a near-term positive impact on our cash flows as we will receive a commission on the sale of any product or service secured by Dongfang from an Atlantis initiated opportunity," said Chief Executive Tim Cornelius in a statement.
Last month, Atlantis commenced a detailed design and systems integration agreement with Lockheed Martin to develop the company's most advanced tidal turbine, the 1.5 megawatt AR1500.
Atlantis shares were trading 0.7% lower Monday morning at 71.00 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
ARL.L