July 07, 2009 | 3 Comments
World Energy Research and Blue Energy Canada have signed a joint agreement under which World Energy Research would finance the development of Blue Energy Canada's first 200-megawatt (MW) commercial tidal power project at a cost of roughly US $500 million.
"The Blue Energy vertical-axis turbine represents two decades of Canadian research and development, which generates an inexpensive, non-exhaustible source of environmentally-safe electricity to power the world's energy needs," said Martin Burger, Blue Energy Canada's CEO.
World Energy Research, which specializes in the development and commercialization of green energy technology, said that it chose Blue Energy's relatively unproven resource-driven tidal power design over other technologies in the emerging tidal power sector.
"After exhaustive research, World Energy Research found several companies capable of producing small amounts of energy, but none on the scale of Blue Energy's Davis Tidal Turbine, which was developed specifically to harness tidal power on a large scale," said Chad Willis, managing director of World Energy Research.
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