Simec Atlantis Energy Limited
SAE
ISIN SG9999011118 / Valor 23724535
Simec Atlantis Energy Limited
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About company
Simec Atlantis Energy Limited (SAE), originally known as Atlantis Resources, is a renewable energy company incorporated in Singapore with its operational headquarters in Edinburgh, Scotland. The company initially focused on developing tidal power turbines and projects but has since diversified into waste-to-energy and hydropower sectors following its integration into the GFG Alliance. SAE has made several strategic acquisitions, including Marine Current Turbines from Siemens and various project sites from ScottishPower Renewables, such as the 100 MW Ness of Duncansby site and a 10 MW project in the Sound of Islay. The company is notably involved in the development of the MeyGen tidal turbine array in Pentland Firth, Scotland, which is Europe's largest tidal power project. SAE's commercial and project development teams are based in Edinburgh, and it has additional operational bases in Nigg Energy Park and Bristol. The company was the first tidal energy firm to be listed on the London Stock Exchange's AIM sub-market and continues to advance its renewable energy projects globally.
Summarized from source with an LLMView SourceSector: EnergyLatest Results (01.05.2026):
Simec Atlantis Energy Limited — results for Q2 2025 (six months ended 30 June 2025): the Group reported a loss before tax of £4.6m (H1 2024: £6.0m) on revenues of £3.5m (H1 2024: £12.0m). The revenue decline reflects a non‑recurring £9.9m land sale in H1 2024; operational performance improved at the MeyGen tidal array. Post‑period the Group achieved financial close on the AW1 battery project and subsequently changed its name to Ampeak Energy Limited.
Headline results
Loss before tax: £4.6m for the six months to 30 June 2025 (improved versus £6.0m in H1 2024). Reported revenue: £3.47m (H1 2024: £12.01m), with the prior period including a one‑off £9.9m land sale.
Revenue drivers
MeyGen tidal revenue rose to £3.2m (H1 2024: £1.9m) following full turbine deployment and generation of 7.9 GWh (H1 2024: 5.1 GWh). Revenues available to the Group excluding ring‑fenced MeyGen income were only £0.4m (H1 2024: £10.1m).
Segment performance
Tidal Stream EBITDA improved to £2.3m (H1 2024: £0.4m). Battery Storage reported an EBITDA loss of £0.8m (H1 2024: profit £9.2m driven by prior year land sale). Corporate costs remained broadly stable.
Costs, financing and cash
Operating costs were £4.6m; financing costs rose to £3.0m (driven by accrued interest on MeyGen debt). Reported cash position at 30 June 2025 was £5.3m (encumbered deposits £0.7m). Total loans and borrowings are c.£66m (current ~£16.5m; non‑current ~£49.5m).
AW1 financial close (post‑period)
On 5 August 2025 (post‑period) the Group reached financial close for the AW1 240 MWh BESS at Uskmouth: total project cost £67.4m, £45.3m project financing from Nord/LB, Group retains a 75.3% controlling share. AW1 is forecast to begin operations in Q4 2026 and is expected to deliver ~£13m revenue and ~£9m EBITDA p.a. in its first five full years.
Operational updates
MeyGen Phase 1 set generation records with three turbines stable and a fourth currently non‑operational due to an export cable fault (remedy expected Q4 2025). Development continues on further BESS projects at Uskmouth (AW2, AW3) and the Mey BESS (1.2 GWh) with planning milestones expected in Q4 2025 for some schemes.
Going concern and near‑term risks
The Board judged the Group can adopt the going concern basis through 31 Dec 2026, relying on sources including a CCR loan tranche (£3.5m), an expected additional capacity payment (£5.2m) and potential equity/debt actions. Key near‑term risks cited are timing of the CCR drawdown, National Grid connections reform delays and potential grant clawback exposure (~£3.8m).
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
27 M
Market cap (USD)
522,139
Daily traded volume (Shares)
0.0168 / 0.0168
1 day high/low (USD)
52 weeks high/low (USD)
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