Atlantis Resources subsidiary Atlantis Ocean Energy has launched a five-year debenture bond to raise a minimum of £2m to help the group accelerate the development of its tidal energy technology.
The debenture will pay 8% a year and investment starts at £5, said ethical peer-to-peer finance platform Abundance Investment, which is working with Atlantis on the issuance.
Atlantis Resources chief executive Tim Cornelius said: “We want to raise further capital to take advantage of our recent success, which will help us achieve the huge potential the ocean offers for generating clean, environmentally benign, highly predictable power across the world.
Abundance co-founder and joint managing director Bruce Davis said: “For Abundance’s customers, this is the first time they have had the chance to invest in a UK-quoted company with global interests, an important sign that the green finance sector is also maturing and helping to drive the growth of the green economy.”
Image: a turbine at Atlantis’ Meygen tidal project (Atlantis Resources)
