Atlantis Resources Corporation completes final phase of fundraising
Singapore, 12 July 2011- Atlantis Resources Corporation, the international tidal energy developer, has completed the second and final phase of its latest fundraising with an investment from Singapore’s leading global fund, EDBI (EDB Investments Pte Ltd). Together with new and existing shareholders, including US investment bank, Morgan Stanley, a total of SGD$10 million has been raised to finance further research and development towards commercial deployment.
Atlantis Chief Executive Officer, Mr. Tim Cornelius, said: “We are pleased to have now completed fundraising. EDBI is recognised as a value-adding investor in the clean technology space. Our business is in ideal shape to press ahead with its development plans towards commercial turbine production.”
“Atlantis is a global leader in the growing tidal energy sector with a strong project pipeline and track record in technological development,” said Ms. Chu Swee Yeok, Chief Executive Officer of EDBI. “EDBI looks forward to working in partnership with this home-grown company that is in the forefront of a new but emerging renewable energy class. Atlantis’ expanded presence in its Singapore headquarters will allow it to further leverage on Singapore’s vibrant clean technology ecosystem and well-established local engineering capabilities to accelerate its product commercialization and grow its business internationally.”
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EDBI (EDB Investments) is a leading strategic investment firm headquartered in Singapore with a worldwide presence investing to drive growth opportunities within the knowledge and innovation-intensive sectors of Biomedical Sciences, Clean Technologies, Internet & Digital Media, as well as other strategic industry clusters with commercial potential. As a value adding investor, EDBI creates sustainable and synergistic partnerships with its portfolio companies, leveraging on its broad network of resources and experience to facilitate the companies’ growth in Asia and the world, through their operations in Singapore. For more information on EDBI, please visit http://www.edbi.com.