Shares of Edinburgh-based tidal power company Atlantis Resources rose 3% after it announced its intention to enter the French tidal power market through a cooperation agreement with Nantes-based specialist marine engineering firm Innosea.
Atlantis said France has the second largest tidal power resource in Europe.
“Innosea is advising Atlantis on how to build a French supply chain plan for the manufacture, assembly and distribution of the market leading Atlantis AR1500 tidal turbines as well as foundations and associated transportation and logistics,” said Atlantis.
“Regions to be investigated for supply chain potential include Brittany (Région Bretagne), Normandy (Région Normandie), Aquitaine (Région Aquitaine), Pays-de-la-Loire (Région Pays-de-la-Loire), Hauts-de-France (Région Hauts-de-France).
“Innosea has developed a proprietary marine energy industrial capability directory, which profiles more than 350 organisations in France that have capabilities relevant to the marine energy industry.”
Innosea Marine Engineering CEO Hakim Mouslim, said: “Atlantis tidal turbine systems are leading the tidal industry right now.
“We believe that there is great potential for Atlantis’ commercial projects in France.
“Therefore, building an industrial and local supply chain plan is crucial for the success of projects in France.”
Atlantis CEO Tim Cornelius said: “France is an exciting new market for commercial scale tidal power project development which is set for enormous growth over the next few years.
“As a leading developer of tidal power projects, we want to be part of the success of the marine energy industry in France.”