of the Uskmouth power station from coal-fired generation to 220MW of baseload generation from waste-derived pellets which will help to address the UK’s non-recyclable waste problems.

Our heritage is in tidal power generation where we forged a reputation as a world leader in the development of tidal generation systems and the delivery of commercial-scale tidal power projects. We are now building on this history of successful power project generation through our partnership with SIMEC, a member of the GFG Alliance. The SIMEC partnership provides us with transformational growth prospects as we move into an exciting new era, building a diversified sustainable energy business of material scale with the support of SIMEC and the GFG Alliance.

Our focus now is on progressing the proposed conversion of the SUP power station and seizing the opportunities associated with the GFG Alliance’s high-quality renewable power asset pipeline by acquiring and developing operational, cash yielding projects to drive the business forward and create a renewable energy platform that will deliver attractive returns for our shareholders.