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09/08/2008 06:49 AM

Morgan Stanley Becomes Largest Shareholder in Tidal Power Company

SustainableBusiness.com News

Investment bank Morgan Stanley (NYSE: MS) increased its stake in tidal power company Atlantis Resources Corporation, which is working to develop turbine arrays to harness the power of ocean currents, according to a Reuters artilcle.

Morgan Stanley is now the largest shareholder in the Singapore-based company.

Atlantis is planning to test one- and two-megawatts turbines next year, and hopes to begin installing commercial scale turbine arrays in 2012.

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Website: http://www.morganstanley.com

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