Atlantis Resources Acquires Morgan Stanley's Tidal Current Energy Origination Business
September 9, 2008
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London, UK [RenewableEnergyWorld.com] Atlantis Resources Corporation announced that it has acquired Current Resources Ltd, a tidal current energy origination and project development business owned by Morgan Stanley. Following this transaction, Morgan Stanley will be Atlantis' largest shareholder. The two companies said that they will now be able to develop and project manage major tidal current renewable energy projects globally, Atlantis said.
"By partnering with a best-in-class organization such as Atlantis we are building on our commitment to, and investment in, the renewable energy sector."
-- Colin Bryce, Managing Director & Global Co-head of Commodities, Morgan Stanley.
Atlantis has developed two families of sub-sea turbines that have been tested over a decade of field trials, Solon, a deep-water turbine suitable for installation in some of the fastest flowing currents in the world and Nereus, a shallow-water turbine which has been extensively tested, and grid connected in San Remo, Australia. Both have been specifically developed to suit installation of multiple turbines in fields or arrays. Oceans cover more than 70% of Earth's surface. Ocean energy (including tidal power, tidal current power, wave power and ocean thermal energy conversion) represents a vast source of energy, estimated at between 2,000 and 4,000 terrawatt-hours per year. The U.S. and the U.K. in combination have sufficient ocean power potential to meet around 15% of their combined power needs, according to the report "The Commercialization of Ocean Power" from Research Reports International Inc.
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We have it all on file with A.Y.R.S , Eurecka , patents office etc etc If any good USA law firms wants a good money earner ,get in touch . ken at sims.tv
On our old site of 4paz.org we had the surface version of loop line foils very good presentation by a young student . This was before they even started . Now we have the even more powerful machine for tidal or river ,any on interested should contact 4paz.org .