Tribute Resources centers on marine and tidal energy

  • Business & Finance

Tribute Resources announced that it has established a new corporation called International Marine Energy Inc. (IME). IME has acquired the interests of Tribute Resources in Western Tidal Holdings, and the intent of Tribute Resources is to develop all further tidal power projects in Canada and internationally within IME.

IME has assumed the interest of Tribute Resources in Fundy Tidal and its projects. IME and Fundy Tidal are developing the 1.95MW small-scale tidal COMFIT project awarded to Fundy Tidal by the Province of Nova Scotia located at Digby, Nova Scotia, in the Digby Gut Limited Partnership.

Both IME and Fundy Tidal will form and manage the project team to work with Dutch-based tidal turbine producer, Tocardo International BV, to commission the project which may include the installation of up to 16 of their T200 turbines and the design and development of a floating barge platform to house them.

The Digby Gut project is one of three COMFIT projects under development in Digby County by Fundy Tidal. IME and Fundy Tidal have also entered into a Right of First Refusal Agreement to develop and finance all current COMFIT projects and to collaborate on future projects in Atlantic Canada.

Press Release; Image: Tocardo

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