TIDMSAE

RNS Number : 8624G

SIMEC Atlantis Energy Limited

24 July 2023

24 July 2023

SIMEC Atlantis Energy Limited

("SAE Renewables", "SAE" or the "Company")

SAE receives next payment for BESS project

Further to the Company's announcement on 23 February 2023, SAE is pleased to confirm that it has now received the GBP4.0m development premium from Uskmouth Energy Storage Limited ("UES"), as part of the arrangements that allow UES to deliver a 230MW / 460MWh battery energy storage system ("BESS") at the Uskmouth site.

This marks another major milestone in the delivery of one of the largest BESS projects in the UK and the unlocking of value for SAE and its shareholders.

Following the Company's update on 27 June 2023, SAE can also report that it is making good progress with finalising its audit and is on track to publish its Annual Report for the year ending 31 December 2022 later this month.

For further information, please contact:

 
 SAE Renewables 
  Sean Parsons, Director of External 
  Affair                               +44 (0)7739 832 446 
 
 Strand Hanson Limited (Nominated 
  and Financial Adviser) 
  Richard Johnson 
  Rory Murphy 
  David Asquith                        +44 (0)20 7409 3494 
 
 Zeus Capital Limited (Broker) 
  Louisa Waddell 
  Simon Johnson                        +44 (0)20 3829 5000

Notes to Editors

SAE Renewables is a global developer, owner and operator of sustainable energy projects with a diverse portfolio in various stages of development.

https://www.saerenewables.com/

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END

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July 24, 2023 02:00 ET (06:00 GMT)

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