Wave power developer Atlantis Resources has appointed John Neill CBE as non-executive chairman with immediate effect.
The company is currently pursuing an AIM listing to raise gross proceeds of up to £20million.
Atlantis says £10million is earmarked to fund the company’s share of costs of the first phase development of the 400MW MeyGen project. Located in the Pentland Firth, the scheme will be the biggest tidal power project in Europe.
New non-exec chairman John Neill is currently chairman and chief executive of Unipart, a non-exec director of Rolls-Royce plc and formerly a director of the Court of the Bank of England.
“To have recruited a chairman of John’s calibre, experience and profile is a tremendous boost for Atlantis Resources and a further endorsement of the potential of the business we have built,” said Atlantis chief executive Tim Cornelius.
Mr Neill said: “After many years of technology development, I believe that tidal energy, which can offer clean, predictable and sustainable electricity generation with minimal environmental and visual impact, has significant potential.”
He said the MeyGen project, which is scheduled to start up initial production in 2015, would be an important milestone for both the company and the marine energy sector.
