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.

"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." -- Chad Willis, Managing Director, World Energy Research