Verdant Power Progresses toward an Autumn Installation of Tidal Energy Turbines in New York City’s East River Turbine Assembly in New Jersey Ramps Up for Demonstration and Commercialization of Marine Renewable Energy in New York City

The marine renewable energy (MRE) technology developer, Verdant Power, has successfully taken additional steps toward the installation of an array of its three, fifth generation (Gen5) tidal power turbines on the Company’s novel TriFrame™ mount at its Roosevelt Island Tidal Energy (RITE) Project site in New York City’s East River.



The turbines were transported from the Company’s New Jersey marine engineering support services facility, where the turbines were assembled, to a marine vessel installation services area, where they have been integrated onto a Verdant Power TriFrame™ mount in preparation for on-water delivery and deployment at the RITE Project site. In addition, the RITE Project Control Room on Roosevelt Island is being readied for the turbine system installation, which is planned for autumn 2020.



A New York-based company, Verdant Power plans to install three of its fifth generation “Free Flow Systems” or kinetic hydropower system (KHPS) turbines on a single TriFrame™ mount in the East River. This will be the pre-commercial phase of the Company’s Roosevelt Island Tidal Energy (RITE) Project to design its KHPS tidal turbine, optimize the economics of installation and maintenance of arrays, and prove performance.



“This is the final pre-commercialization phase in a process that has seen 23 government agencies approve work on the RITE Project,” said Verdant Power CEO John T. Banigan. “We are proud to have been the first licensed tidal power project in the U.S.”



“Our focus is on maximizing system power performance, increasing availability and reliability, and reducing project CapEx and operating costs,” added Banigan. “The RITE Project not only will demonstrate clean power from the tidal currents, but also will demonstrate tidal power as a viable energy resource advancing our industry in the U.S. and globally.”



The RITE Project site will generate electricity under a hydrokinetic pilot project license issued by the Federal Energy Regulatory Commission – the first commercial license to have been issued for a tidal power project in the United States. The RITE Project has been supported by NYSERDA (the New York State Energy Research and Development Authority) and the U.S. Department of Energy, in addition to New York-based private equity capital support.



About Verdant Power



Founded in 2000, Verdant Power is a leader in the global marine renewable energy industry, developing systems that deliver clean power from tidal and river currents. Through its initiatives worldwide, Verdant Power has developed industry-leading capabilities in device design, system demonstration and operation, tidal and river power resource assessment, and environmental monitoring. It is dedicated to delivering the highest quality MRE technologies and services at the lowest possible cost in the shortest time frame. Learn more at www.verdantpower.com