Tidal Energy Turbine Company Gains Funding

New York, New York [RenewableEnergyAccess.com] Verdant Power, Inc., a global integrator of kinetic or “free-flow” hydropower systems and a marine renewable energy developer of dam-less hydropower sites, will further develop its turbine technologies due to closing on a $7.5 million investment toward a total of $15 million. Verdant Power’s Roosevelt Island Tidal Energy (RITE) project is the first grid-connected kinetic hydropower system (KHPS) in the world and seeks to make New York City the world’s largest major renewable energy city. An array of axial-flow turbines is mounted on the bed of the East River to harness the kinetic energy of the tidal stream and convert it into clean, renewable electric power.
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