SIMEC Atlantis Energy enters fuel supply Joint Venture with N+P Group
In the UK, SIMEC Atlantis Energy Ltd (Atlantis), a diversiﬁed sustainable energy generation company, has announced that it has signed a Heads of Terms in relation to a joint venture, NPA Fuels Ltd (NPA), with the N&P Holding 2 Ltd, a wholly-owned subsidiary of the Dutch recycling specialists, the N+P Group.
NPA will principally be involved in the marketing, production, and delivery of waste-derived fuel pellets to converted coalfired power stations throughout the UK, and in particular the Uskmouth project currently being developed by Atlantis.
We are very excited to be entering the fuel production market alongside our trusted partner and market-leader, the N+P Group. Atlantis is looking forward to building a large, profitable business with N&P, starting with supply to our ground-breaking Uskmouth project. Our project development and marketing skills coupled with their technical expertise and deep market knowledge should create a new alternative fuel powerhouse. I would also like to thank SIMEC for agreeing to conclude their arrangements with the N+P Group and allowing us to enter into this arrangement that we believe will benefit all of our shareholders, said Tim Cornelius, CEO of SIMEC Atlantis Energy
N+P and Atlantis are working to finalise a formal joint venture agreement and will update the market once this has been agreed and executed. commented:
We are delighted to enter into this new joint venture with SIMEC Atlantis Energy and we would like to thank SIMEC for their contributions as our former JV partner. The successful large scale combustion test was a major step for the development in the conversion of Uskmouth Power Station. The result of the trial proved that coalfired power stations can substitute 100 percent of their conventional fuels by N+P’s patented waste-derived fuel Subcoal. This is a major development and opportunity for the industry to both reduce CO2 emissions and divert non-recyclable waste from landfills. We are very much looking forward to cooperating with SIMEC Atlantis Energy in the development of dedicated new fuel production facilities for the Uskmouth Power Station, commented Stijn Jennissen, CCO of N+P Group.
Jay Hambro, CIO of the GFG Alliance & CEO of Energy at SIMEC remarked that the announcement represented another “step in the delivery of the Uskmouth power plant and confirms the supply chain for fuels is de-risked.”