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New Chief Executive Takes Over At Simec Atlantis Energy - Owner of Meygen

17th January 2021

Photograph of New Chief Executive Takes Over At Simec Atlantis Energy - Owner of Meygen

SIMEC Atlantis Energy that owns Meygen that runs the turbines in the Pentland Firth, the AIM listed sustainable and renewable energy developer and operating company (AIM: SAE), announces the appointment of Graham Reid as the new Chief Executive Officer and a Director of Atlantis effective 18th January 2021. Tim Cornelius has agreed to take up a new role as a Senior Adviser to the Group and will consequently resign his position as Chief Executive Officer, effective the same date.

Graham is an experienced and highly capable CEO, leader and engineer, with extensive international experience in the energy and infrastructure space. Graham was most recently CEO of RES Americas, and prior to that CEO of Arcadis Middle East, a member of Network Rail's project delivery board for the London bridge station project and earlier in his career was the UK Managing Director and an Executive Board member of Hyder Consulting plc.

Having delivered more than 5GW of wind, solar and storage projects in previous roles, Mr Reid has been selected by the Board of Directors to build on the successful development history of the Company and to use his considerable project management and delivery experience to steer Atlantis through the delivery phase of the Uskmouth Power Station conversion project, the build out of fuel production plants, the expansion of the MeyGen project and the development of further hydro asset opportunities.

In his new advisory position, Tim Cornelius will continue to support the Board and Company on a range of matters, including ongoing relationship management with key stakeholders, customers, and strategic partners.

Mr Reid will receive an option award on joining, calculated with reference to the closing price on 8th January 2021. The Company will provide further notification of the details of the award in due course.

Graham Reid, incoming CEO said:"I am delighted to be joining SIMEC Atlantis at such an exciting time in its growth trajectory. This is a unique opportunity to become part of an exceptional business delivering several first-in-class projects that will make meaningful contributions to a lower carbon economy. SIMEC Atlantis is a recognised pioneer in the development and operation of renewable and sustainable energy projects and I very much look forward to playing my part in the successful delivery of the Uskmouth conversion project and the build out and commissioning of fuel production plants across the country. I am also relishing the opportunity to work with the Atlantis team to progress our exciting marine energy and hydro portfolios."