Verdant Power Gets Funding for Final Tidal Power System Demo

Rendering of TriFrame Installation at the RITE Project. Photo: Verdant Power

Verdant Power has received $6 million in funding for the next phase of its program to advance the development of the company’s tidal power system in New York.

The U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) has approved $3 million in co-funding support for the third phase of Verdant Power’s project that will qualify its tidal power system through to final test, demonstration and commercialization.

This Phase 3 funding from EERE, which was authorized based on a Go/No-Go review scheduled at the completion of Phase 2 of the project, is part of an EERE Water Power Technologies Office initiative to help drive down the cost of energy.

During Phase 3, three Verdant Power 5th generation Free Flow System turbines will be deployed on a TriFrame mount at the company’s Roosevelt Island Tidal Energy (RITE) project in New York City’s East River. They will generate electricity under a hydrokinetic pilot project license issued by the Federal Energy Regulatory Commission (FERC) – the first commercial license issued for a tidal power project in the United States.

“It’s all about reliability and affordability,” said John Banigan, CEO of Verdant Power. “We are pleased to have received further support in the form of $3 million from the U.S. Department of Energy, which has been matched by private investment in the company, for the next phase of this crucial project to drive down cost and commercialize the company’s product. We are eager to deploy our commercial class tidal power system into the East River. That not only will deliver clean energy to New York residents, but also will demonstrate tidal power as a viable energy resource advancing our industry in the U.S. and globally.”

​The project is also supported by the New York State Energy Research and Development Authority (NYSERDA), which has been a long standing partner of Verdant Power and the RITE Project.  In addition to Verdant Power, the project team includes Ramboll, James Fisher Marine Services (formerly Mojo Maritime), Kleinschmidt Associates, Cornell University, and Manufacturing Resources, among other partners.

Share this article

Follow Subsea World News

Events>

<< Dec 2018 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

All-Energy 2019

All-Energy is the UK’s leading renewable energy and low carbon innovation event, showcasing the latest technologies and services…

read more >

ACENS 2019

Submission shall pass the double blind paper review first in order to be presented in the conference…

read more >

Deepwater Operations Advisory Board

This event allows for the free and open exchange of ideas, as proceedings will not…

read more >

Subsea Tieback Forum & Exhibition

The content addresses new operational issues, challenges, and solutions associated with global deepwater subsea operations…

read more >