Successful pellet production and milling trials

The information contained in this announcement is inside information under the Market Abuse Regulation (EU) No 596 / 2014. The person responsible for arranging the release of this announcement on behalf of SIMEC Atlantis Energy Limited is Tim Cornelius, Chief Executive Officer of SIMEC Atlantis Energy Limited.

2^nd March 2020

SIMEC ATLANTIS ENERGY LIMITED

("Atlantis", the "Company" or the "Group")

Successful fuel pellet production and milling trials represents significant milestone

for Uskmouth Power Station conversion

SIMEC Atlantis Energy, the global developer, owner and operator of sustainable energy projects, announces the successful production of 100 tonnes of fuel pellets for large scale combustion testing and the successful completion of large scale milling tests on the 100% waste derived fuel pellets to be used at the Uskmouth power station, post conversion. This is a key milestone for the project and provides further confidence that the energy pellets developed as a high calorific value, low cost alternative to coal are able to be produced in commercial quantities and can be milled using industry standard designs.  

The next stage in the project will be for Mitsubishi Hitachi Power Systems Europe GmbH ("MHPS Europe") to conduct final large scale combustion trials at their 24MW facility in Q2 2020 to validate combustion system design, prior to concluding EPC contract negotiations with lead project partners.

The fuel pellets, produced by project partner and leading Dutch fuel specialist N+P Group, contain approximately 50% biogenic waste material (such as paper and cardboard), with the remainder made up predominantly of plastic waste. The waste used to make the pellets is not currently economically recyclable and therefore, if not used in production of fuel pellets, would likely have to be disposed of in landfill.

Tim Cornelius, CEO of SIMEC Atlantis Energy, commented:

"The completion of the fuel production and the milling trials are a major milestone for this flagship conversion project and represent very important steps in the program towards financial close.

This project is the world's first example of a coal-fired power station being repurposed to run on 100% waste derived fuel pellets and the results of this test will potentially have material implications for the way plastic waste, and aging coal fired power stations, are managed globally in the future."

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Notes to Editors

Simec Atlantis Energy 

SIMEC Atlantis Energy is the global developer, owner and operator of sustainable energy projects with a diverse portfolio in various stages of development. This includes a 77% stake in the world's largest tidal stream power project, MeyGen, and a 100% stake in the 220MW Uskmouth Power Station conversion project and ownership of Green Highland Renewables, a leading developer of hydro projects in the UK.

https://simecatlantis.com/