Atlantis, Dongfang form strategic partnership
Atlantis Resources has reached an agreement with Dongfang Electrical Machinery to build an onshore tidal turbine testing facility in Hangzhou in the People’s Republic of China.
By K.Steiner-Dicks on Apr 9, 2014
It is intended that the testing programme will be carried out prior to the deployment, later this year, of the Group’s 1MW AR1000 turbine at an offshore demonstration project in Zhejiang Province, developed by the China Energy Conservation and Environmental Protection Group.
Atlantis is also expected to announce a strategic partnership in France this year, continuing its path of bankability through strategic partnerships with industrial technology heavyweights.
The AR1000 will be the first commercial scale tidal stream turbine to be deployed in the PRC and is expected to be a key milestone in the growth of the domestic tidal power sector.
This follows the announcement last month that Atlantis has formally commenced a detailed design and systems integration agreement with Lockheed Martin to develop the Group’s most advanced tidal turbine, the 1.5 megawatt AR1500.
Atlantis and Dongfang have a strategic agreement for the development of tidal power, including the provision of low cost supply chain solutions for mass production of the Group’s AR1500 turbine, and cooperation to stimulate the tidal power market in the PRC.
Additionally, Atlantis and Dongfang are now expanding this relationship and have executed a memorandum of understanding for the appointment of Atlantis as a sales agent for Dongfang’s related products in markets outside the PRC.
This agency agreement will encompass Dongfang’s traditional hydropower, pumped storage and tidal range technology solutions, and reflects Dongfang’s recognition of Atlantis’s capabilities in global project development and market origination.