AUCKLAND, New Zealand, July 4 /PRNewswire-FirstCall/ -- World Energy Research and Blue Energy Canada have signed a joint agreement in which World Energy Research will finance the development of Blue Energy Canada's first 200 MW commercial tidal power project at a cost of roughly half a billion dollars. World Energy Research, which specializes in the development and commercialization of green energy technology, chose Blue Energy's 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.
BusinessWeek Magazine in its article 'Innovation from Recession' just listed Blue Energy's discovery number one out of the top 20 most important technologies of the next 10 years.
"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," says Blue Energy Canada's CEO, Martin J. Burger.
The partnership promises to be an exciting time in the upcoming commercialization of this game changing technology, harnessing the world's largest untapped renewable energy source.
About World Energy Research
World Energy Research is an independent energy research, exploration, management and operating company that specializes in low-risk, secure, private placement energy investments. Its mission is to create partnerships with leading energy companies on the forefront of technology, making the latest and most productive projects in the world energy market available to its investors. For more information, please visit http://www.worldenergyresearch.com.
About Blue Energy Canada Inc.
Blue Energy Canada Inc. is a green energy technology company commercializing the Davis Hydro Turbine, capable of converting tidal currents into electricity. With its scalable and proven advanced aerospace technology, Blue Energy is a solution the world has been seeking. For more information, please visit http://www.bluenergy.com.
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