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SIMEC Atlantis Energy (also known as Atlantis) operates as a multifaceted energy firm, concentrating its efforts on marine energy, waste-to-power conversion, and hydroelectric generation. This global innovator in sustainable projects is presently developing over 1,000 megawatts of capacity across various stages. Key assets in its portfolio include MeyGen, recognized as the world's largest tidal stream power installation, and Uskmouth, a major waste-to-energy facility within the UK. Beyond its project development initiatives, Atlantis's Turbine and Engineering Services division is responsible…

SIMEC Atlantis Energy Ltd (AIM:SAE, OTC:SMAYF) shares jumped 14% after the company secured a 15-year contract to supply power to the National Grid. The deal, won in the latest T-4 Capacity Market Auction, covers SAE's 120MW AW1 Battery Storage project and guarantees a fixed payment of £60 per kilowatt per year.

Shares in SIMEC Atlantis Energy Ltd (AIM:SAE, OTC:SMAYF) more than doubled after the publication of its delayed prelims, which showed the group's net assets had grown by a whopping 678% to £44.2 million. That is more than five times the market capitalisation of the business ahead of today's announcement with the increase coming from a reassessment of the "value and size" of SIMEC's battery storage projects.