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harnessing energy form the ocean. Perry set up Atlantis to develop and design a turbine called the Aquanator. “It has evolved considerably since

People then,” Cornelius says. These days the company has become a project developer, which also does technology develop- ment, because it can, and, some in some cases, because it has to. The business has

Spotlight a global strategic alliance with Lockheed

Martin, giving its technology, the

AR1500, blue-chip engineering support

Current currency and development.

But, the company isn’t solely tied to

The success of MeyGen will help using the AR1500, calling themselves technology agnostic. “We view ourselves lay the ground work for the future as a leading developer of tidal power of the tidal power industry. The projects, a seabed real estate developer,

CEO of the company behind it with a fantastic partner in Lockheed believes he has the recipe for

Martin,” Cornelius says.

All work up to this point has led success. Elaine Maslin reports.

Atlantis to the MeyGen project in Scotland’s Pentland Firth. “I think olding Tim Cornelius’ attention is a signifcant part of the future of the

H no easy task. This year is poised to tidal power industry, not just in the UK be his frm’s, Atlantis Resources, busiest but globally, hangs on phase 1a of the following a successful IPO on the stock MeyGen project,” Cornelius says, calling market and securing £50 million funding it the company’s fagship.The project’s for its milestone MeyGen project last year. frst phase will install four 1.5MW tur-

Atlantis has just started construction bines offshore and construct the onshore work on the MeyGen project, the world’s infrastructure to support the project. frst commercial-scale multi-turbine tidal

When fully operational the 398MW array energy project, and in late April it bought will generate electricity to power 175,000 out turbine developer Marine Current homes by the early 2020s.

Turbines from global frm Siemens, which

Despite his immersion in the offshore

Tim Cornelius in turn has taken a 9.99% stake in Atlantis. renewables industry, Cornelius still

Cornelius, who has already had careers interest in power and emissions trading, keeps a close eye on the oil industry, as a commercial diver, ROV pilot and led him to his next step – an MBA at however, and for good reason. “Marine roles in management, alongside develop- Bond University in Australia. At Bond, renewables is a benefciary of the recent ing an interest in power and emissions he was approached by Atlantis, then a reduction in capex, which has reduced trading and gaining an MBA, soaks up small tidal technology concept developer. vessel costs by 40-50%, which makes our the challenge. “I have a strange background. An operations a lot more affordable. The big-

The Australian-born Cornelius started underwater engineer that understands gest variable in our cost base is the cost out studying marine biology aquaculture. how markets and emissions trading of installation.”

The company also has a larger pool of

After completing his degree he went to works,” he says. “They asked me to help potential staff and supply chain companies dive college in order to work on tuna and build a concept for tidal power, initially to draw on as oil workers and contractors salmon farms in southern Australia. very much on an interim basis while I look to other industries in the downturn.

But, his attention was gripped by was completing my MBA. Once I got

But, there are other dynamics. Due to the others who were training in underwater involved I realized the potential, but saw low oil price and high operating cost in the welding and construction, leading him that the company needed restructuring.”

North Sea, more assets could be decom- to later attain his commercial diving The challenges facing tidal energy missioned sooner, which would result in certifcate. He worked in the submarine development caught Cornelius’ inter- strong competition for yard space, so it’s rescue escape team in Australia before est – understanding subsea engineering not a simple picture. But, it is a picture that moving to the North Sea to work in the challenges, understanding the market keep Cornelius’ constant attention. oil and gas industry, retraining in sub- on a macro-economic basis and how mersible engineering and then as an ROV renewables ft in, as well as the infuence pilot. From there, Cornelius rose through of politics on renewables.

FURTHER READING the ranks, working around the world for Atlantis was originally formed by

Subsea 7, particularly in deep water areas serial entrepreneur and deepsea fsher-

See the full version of this off Brazil, and Trinidad and Tobago. man Michael Perry in Australia about article online at

The taste for training, and now also 15 years ago. While he had success oedigital.com management, as well as a growing with other start-ups, his passion was

June 2015 | OE oedigital.com 62 062_OE0615_Spotlight.indd 62 5/31/15 9:41 PM