The funding, awardedunder the Seventh Framework programme for research and technologicaldevelopment, will underpin design, installation and operation of the company’s1.5MW AR1500 tidal energy turbines in the 3.5 sq kmInner Sound project site, where tidal current races through at overfour metres per second.
“The award of thisgrant ... will help to catalyse the [tidal] industry’s development, providing acredible and robust transition pathway from single turbine demonstration units,to the deployment of multi-hundred turbine arrays in Europe and across thewider international market,” says Atlantis chief executive Tim Cornelius.
The EC grant comeson the heels of Atlantis entry onto the London Stock Exchange’s AlternativeInvestment Market and £12m initial public offering (IPO).
“Taken with the £12million that we have raised through IPO, this grant means that the business...
