September 13, 2010 Department of Energy Awards $37 Million for Marine and Hydrokinetic Energy Technology Development
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Washington, DC – U.S. Energy Secretary Steven Chu today announced selections for more than $37 million in funding to accelerate the technological and commercial readiness of emerging marine and hydrokinetic (MHK) technologies, which seek to generate renewable electricity from the nation’s oceans and free-flowing rivers and streams. The 27 projects range from concept studies and component design research to prototype development and in-water device testing. This unprecedented level of funding will advance the ability of marine and hydrokinetic energy technologies to contribute to the nation’s electricity supply.