Monthly Archives: February 2014

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TIDAL PLAN.. NEXT STEP PORT PHILLIP HEADS ???

Atlantis-model

 If only it was as easy as building the model above to put on top of your xmas tree and dream it may come true in Port Philip Bay.

Imagine the benefits of a power generating turbine below the waves silently powering the Bellarine. It could be true if the government would look at it seriously!

 

Morgan Stanley-Backed Atlantis Raises $33 Million for Tidal Plan

By Louise Downing Feb 20, 2014 7:00 PM ET

 

Atlantis Resources Corp., a Morgan Stanley-backed maker of tidal turbines, raised 20 million pounds ($33 million) with a European grant, funds from a government institution and an initial public offering in London.

The Singapore-based company raised 12 million pounds by selling about 12.8 million new shares at 94 pence each on London’s Alternative Investment Market, Chief Executive Officer Tim Cornelius said. That values Atlantis at 72 million pounds.

Most investors were London-based institutions, with some from continental Europe, Cornelius said. Morgan Stanley, which had 45.7 percent before the placing, didn’t sell any shares.

“We chose AIM because people in the U.K. market are familiar with the renewables sector and there is good support,” Cornelius said. “People understand the landscape here.”

Atlantis also raised 8 million pounds through a cash grant from the European Commission and from a government institution that offered non-recourse financing repaid from future profits.

Funds investing in renewable energy have listed in London in the past year as investors seek steady dividends that beat returns on government bonds. Ingenious Media Holdings Plc last month said it was planning to raise 160 million pounds.

The tidal-power industry is in its infancy, with developers testing prototypes in the hope of bringing systems to market. As yet there are no commercial-scale projects in operation.

“It’s a growth story because we have a global portfolio and it’s a new and emerging market,” Cornelius said by phone. “From that perspective I think people tend to find it really interesting. It’s not solar and it’s not wind.”

MeyGen Project

Part of the proceeds will be spent on developing the 86-megawatt first phase of Atlantis’s MeyGen project in Scotland.

Construction is expected to start early in the second quarter, generation is projected from early 2015, and capacity may eventually reach as high as 398 megawatts.

The project seeks to take advantage of government subsidies for the power it produces, withScotland offering one of the highest for tidal energy. Waters in the region are estimated to account for as much as a quarter of Europe’s tidal resource.

Any remaining money from the funds raised will be invested in development of turbine technology alongside Lockheed Martin Corp. and for investments around the world, Cornelius said. The company is pursuing projects in Canada, India and China.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

Historic day for cycling in our Region

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After more than two years we have finally been successful in getting our Principal Bicycle Network (PBN) up in both the City of Greater Geelong and the Surf Coast Shire.

Bike Safe has been actively working with local cyclists, VicRoads and Councils in developing a Principal Bicycle Network (PBN). This plan prioritises key roads and paths across the region for upgrading, modification or building connections. At least 30% of the works can be implemented within existing budgets and infrastructure upgrade plans.

The PBN provides a priority framework for establishing safe, connected cycling routes to and from community hubs. Hubs include the CBD, towns, train stations, schools, tertiary campuses, shopping centres, and recreation centres. It also incorporates commuter and popular leisure cycling routes as well.

Within the PBN there are less roads than in previous strategies, sort of do less but do it better. It also aims to guide engineers and planners to make strategic connections, fix poor design outcomes, and prioritise cycling maintenance. The PBN has also identified strategic Next Generation sealed, separated cycleways leading into the CBD and connecting surrounding suburbs.

Although desirable, not all roads can have bike lanes or shoulders, in which case consideration will be given to speed limit reductions, cycle friendly intersections, traffic calming and signage. Priority for new off-road paths will  be given to those which provide the most direct routes.  If you want more details and maps, here is the link >PBN

FOOTNOTE: Pictured above is CoGG Deputy Mayor Cr Bruce Harwood and Bike Safe President Barton van Laar. Bike Safe also wishes to thank Cr Andy Richards and Cr Eddy Kontelj (and all the Councillors at CoGG and Surf Coast) for their ongoing enthusiastic support.  Bike Safe has funded all strategic and mapping work to date. Now the real work by VicRoads, CoGG and Surf Coast begins, fingers crossed!

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With the support of local managers VicRoads is right now reviewing planned existing works, to see which roads, which intersections can be improved over the next two years. We will keep you updated!

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Well done Borough of Queenscliffe!

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Lots of new bike racks in Point Lonsdale welcome bikes and guess what, locals ride to the shops. Build it and they will come!

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The economic benefits of cycling

Cycling is a viable transport alternative that has significant economic benefits. As an example, the economy benefits by more than $21 every time a person cycles 20 minutes to work and back, according to previous Federal Government reports. The economic benefits of riding and walking to work include better health, less congestion, reduced infrastructure costs, reduced greenhouse gas emissions, better air quality, noise reduction and savings in parking costs.

Three and a half million people—nearly one in six Australians—ride a bicycle at least once a week, and more than 8 million Australians ride at least once a year. Riding a bike delivers economic benefits of around $1.43 per kilometre.

Cycling is low-impact exercise that can be enjoyed by people of all ages. Regular cycling has many physical and mental health benefits. It is one of the best ways to reduce your risk of health problems such as stroke, heart attack, some cancers, depression, diabetes, obesity and arthritis.

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Some welcome sweeping…

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GRUBB RD, OCEAN GROVE – VicRoads

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ABERY RD, NORTH SHORE- VicRoads

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Some welcome fixes…

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SWANSTON ST/KILGOUR ST, GEELONG – COGG

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BARWON RIVER PATH, SOUTH GEELONG – COGG

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BELLARINE HWY, NEWCOMB – VicRoads This took two goes but now no longer dips below the surface of the bike lane. Parking is still a problem.

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PIGDONS RD, WAURN PONDS – COGG Cyclists were actually tracking along the white line and falling into the carriageway. CoGFG did a quick fix after we reported and came up with modifications. The white line was previously 3-4mm above the road surface trapping water.

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Bike Safe Macedon great initiative

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The Face of Cycling in the Macedon Ranges…
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Legend calls for bike safety

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The man known as the voice of cycling, Phil Liggett, was in Portarlington recently for the Mitchelton Bay Cycling Classic. He joins Bike Safe in promoting cycling safety.

“We all live on the same planet. We all want to get from point A to point B safely. A simple mistake or lack of concentration by a cyclist or a motorist can result in the loss of a life. I think it is terrific is that organisations, such as Bike Safe, bring these matters to the fore, with road users and infrastructure planners. All of us, including Governments and Councils need to listen and respond positively. The results are very worthwhile.”  READ MORE >

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Our Facebook page – read it first here

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This post received over 10,500 page views and made the Addy! When stuff happens, we will post it on our Facebook page, here >

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Finally The Science Behind Why Cycling Makes Us Happier