AIM listed Atlantis Ocean Energy, a subsidiary of Atlantis Resources Group, a leader in tidal energy, has launched a Debenture through ethical peer-to-peer investment platform Abundance.
The Debenture is seeking to raise a minimum of £2m. The money raised will provide capital to the group as it “…makes further improvements to subsea technology and progresses other opportunities in its rapidly growing portfolio.”
An investment in Atlantis Ocean Energy (a public company which acts as the issuing entity for the Debenture and any subsequent offers) starts from only £5. The Debenture pays 8% p.a. for five years and can be sheltered from tax in Abundance’s ISA. or SIPP products. It can also be held directly “unwrapped.”
Atlantis is currently building and operating the world’s largest tidal stream project. MeyGen, its main tidal project, started generating electricity off the coast of Scotland late last year. It is the world’s first multi-megawatt, multi-turbine tidal power project to begin operations.
Co-founder and joint Managing Director of Abundance Bruce Davis said: “It’s often claimed that the UK is the Saudi Arabia of wind – we can also be considered the Texas of tides. With some of the best tidal resources in the world the UK can and should become a global leader in this proven and exciting technology, and pioneering companies like Atlantis are making it happen. We are proud to be offering the British public the chance to share directly in the returns this exciting new renewable energy will earn.
“For Abundance’s customers, this is the first time they have had the chance to invest in a UK-quoted company with global interests, an important sign that the green finance sector is also maturing and helping to drive the growth of the green economy.”
CEO of Atlantis Resources Tim Cornelius said: “This is the most exciting time in the history of tidal power. We want to raise further capital to take advantage of our recent success which will help us achieve the huge potential the ocean offers for generating clean, environmentally benign, highly predictable power across the world. The success of our flagship Scottish project MeyGen has significantly raised awareness of tidal as one of the most rapidly growing sources of sustainable electricity generation for the future, and this offer is a chance for ordinary investors to help it grow and share in its financial success.”