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Hydro Green Electric enjoys $2.6m funding wave

wave2.jpgAccording to this press release in front of Greenbang, tidal energy kit company Hydro Green Energy is now in the position to deploy its patented hydrokinetic technology at a number of projects throughout the United States.

What position may that be, you might ask. Greenbang suspects it’s a position that would allow the company’s staff do a little dance of pleasure, after it found itself on the receving end of $2.6 million in a Series A funding round led by the Quercus Trust.

Hydro Green Energy says it will use the cash to expand the company, deploy its first commercial project and look for new opportunities.

Here’s more about the company and what they do:

ydro Green Energy intends to build and operate hydrokinetic power projects that generate electricity exclusively from moving water (river currents, tidal currents and ocean currents) without having to first construct dams, impoundments, conduits or other infrastructure. Its technology is also deployable downstream from existing hydropower facilities (known as Hydro+(TM)), which allows for new incremental, environmentally-friendly, renewable power generation within the existing project footprint.

Hydro Green Energy holds 13 Preliminary Permits from the Federal Energy Regulatory Commission (FERC) for projects in Alaska and Mississippi. The company, which is in various stages of development in several other states, expects to be generating electricity at its first project in Minnesota on the Mississippi River in late August. That project will be the first commercially operational, FERC-licensed hydrokinetic power project in the United States.

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