SIMEC Atlantis (SAE) has pulled off a major turnaround, transforming itself into a major energy storage opportunity with a pipeline of over 1GW of battery energy storage systems (BESS). The company has stabilised its balance sheet and monetised its first BESS project at the Uskmouth site in Wales. We have valued the opportunity based on capacity with grid connections and depending on funding opportunities we see value between 3.8p and 25.0p with a central case of 12.7p.
