The completion of a £2.6m placing provides some useful stability to SIMEC Atlantis in our view as the company awaits consenting decisions at the Uskmouth conversion project and pursues tidal generation opportunities in the UK, France and Japan. In terms of consenting at Uskmouth, newsflow is expected in the near future with Natural Resources Wales currently undertaking final peer review before issuing an interim permit for consultation. The interim results were dented by outages at the MeyGen tidal project but the bulk of the project should be back on line by the year end.
