Business

Local tidal energy proponents receive $470,000 in funding

A dozen new Innovative Clean Energy Fund projects throughout British Columbia, including a project in Prince Rupert, will be receiving $8 million from the Province to help support the new clean energy technologies.

“These 12 new ICE Fund projects bring 475 jobs and almost $79 million in investment to B.C. communities, creating a strong green economy for all British Columbians.” Said Rich Coleman, who is the Minister of Energy and Mines.

The 12 entrepreneurs, communities and First Nations that will be receiving a portion of the $8 million for their projects will invest around $71 million all together for the remainder of the project’s costs.

Because of the Innovative Clean Energy (or ICE) Fund, entrepreneurs, communities and First Nations in British Columbia can support a range of technological applications such as solar, ocean tidal and wave, micro-hydro, geo-exchange, wind, energy conservation and management, bio-energy and waste utilization. In the last half of a decade the Province has approved over $72 million for 56 clean energy projects across B.C., having a value of more than $390 million in total project costs through the ICE Fund.

The project happing in Prince Rupert will be constructing, deploying and monitoring a commercial scale tidal energy converter designed to serve remote communities. Mavi Turbines Inc., a company that produces free-stream turbines that are made to produce electricity for powering homes, lodges and commercial installations, will be receiving $470,000 of the $8 million to produce the new tidal energy converter.

Unfortunately spokespersons from Mavi Turbines Inc., and the Ministry of Energy and Mines were unavailable as of press time, so further details on the project could not be found.

 

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