Business Moves

Tidal power company moves to the next level

By Anette Jönsson | 10 September 2008
Keywords: alternative energy | tidal current power | morgan stanley

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Atlantis Resources acquires Current Resources from Morgan Stanley as it prepares to become the first tidal power developer to set up subsea turbine farms.

Atlantis Resources, a developer and manufacturer of electricity-generating tidal current turbines, has moved a step closer to a commercial-scale deployment of its technology with the acquisition of Current Resources, an energy origination and project development business owned by Morgan Stanley.

The origination business, which focuses primarily on tidal current energy, was acquired through an all-share deal that will make Morgan Stanley the largest shareholder of Atlantis. The exact stake was not disclosed, but is below 50%. Morgan Stanley will get two out of four board seats, ...

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