Floating tidal stream turbine project to get financial boost
A collaborative effort between Instream Energy Systems and IT Power Consulting to design a floating tidal platform has been approved for financial support from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).
Instream Energy Systems, a Canadian hydrokinetic technology company, will collaborate with IT Power Consulting (ITP), an international energy consultancy based in UK, to complete Instream’s second generation platform design for the deployment of their multi-turbine array hydrokinetic system, ITP’s press release reads.
Instream’s surface-based, vertical-axis hydrokinetic turbine, designed in partnership with BAE Systems, has a simplified surface-mounted design and maintenance approach to decrease capital and operating costs.
According to ITP, its versatile design is suitable for near shore environments resulting in a flexible, cost-effective solution that can be deployed in the UK and internationally.
Joe Hussey, Offshore Group Manager at ITP, said: “Designing a floating platform for Instream’s vertical axis turbine opens up vast market potential in the UK and further afield. This is a significant project within the tidal stream industry and IT Power are excited to be involved.”
In addition to financial support approval, the project has also received the EUREKA label.
The EUREKA label helps innovators increase competitiveness in the global economy by accessing technology, expertise, and international markets. EUREKA projects are financed through public and private support mechanisms, including NRC-IRAP.
Ken Miller, President of Instream Energy Systems, said: “We are excited our project with ITP has been endorsed for EUREKA status. The EUREKA label adds a stamp of quality to our project.”
NRC-IRAP helps firms to develop technologies and commercialize them in a global marketplace. It provides provides business advice, technical assistance and financial support to help Canadian enterprises undertake technology innovation.
Image: Instream Energy Systems