MeyGen tidal energy equipment to be installed in Japan By Gordon Calder Published: 14:30, 27 December 2020
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TIDAL energy equipment, based on the MeyGen model in Caithness, is due to be installed at a site in Japan next month.
The equipment, designed on the AR1500 turbine used in the MeyGen tidal array in the Pentland Firth, was built by Simec Atlantis Energy â the company behind the pioneering Caithness scheme â and has arrived in Nagasaki harbour.
It will be transported by support vessels to the deployment site in the Naru Strait, located between the islands of Naru and Hisaka in the Goto Island chain.
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Takeovers of companies listed on the junior market have dominated London Stock Exchange deals recently.
In the year to September 2020, mergers and acquisitions involving smaller companies accounted for 56 per cent of the total up from 46 per cent in the previous 12 months.
There was also a strong rise in takeovers made by private equity groups, according to research by accountancy firm UHY Hacker Young.
M&As involving smaller companies accounted for 56% of the total up from 46% last year Private equity firms have excess cash to invest and are on the hunt for value wherever they can find it. Clearly they are seeing a lot of value in AIM companies that still remain off limits to many institutional investors, said Daniel Hutson, a partner at the chartered accountant.
Simec Atlantis energy has entered a share placement agreement with New Technology Capital Group (NTCG) to raise £12m (€13.7m).
The proceeds will be used to allow Atlantis to take advantage of investment opportunities arising over the course of next year across the Company s tidal energy, waste to energy, hydro and sustainable infrastructure project portfolio.
The US-based investor will make an initial investment of £2m (€2.18m) for new shares with the value of £2.09m (€2.28m) on or about 17 December 2020.
Additional investments of three tranches of £2m (€2.18m) each will be made by (NTCG) for new shares with the value of £2.09m (€2.28m) per tranche approximately three, six and nine months after the initial investment.