Feb 3 2011
Hydrovolts, a company producing innovative hydrokinetic turbines, has obtained new funding and has also developed strategic alliances with three companies in Washington for developing hydrokinetic turbines for renewable energy generation from water currents in channels and canals.
It has closed its Series A funding round and raised more than $1 million. Hydrovolts has also been requested to participate this year in three major energy investment conferences. MERA Technologies (MTI), a Seattle -based company would join hands with Hydrovolts in developing a new submersible generator, that would efficiently harvest the water energy at low revolutions per minute (RPM) eliminating the need for utilizing gear boxes. MTI designs and manufactures Permanent Magnet Generators with neodymium acting as super magnets, for global customers. It also provides marine power generators for the boating industry especially to the Chinese Government.
According to Burt Hamner, CEO of Hydrovolts, even though nature’s energy flows at a low RPM, standard generators have to be extremely fast. Their solution had made micro-hydropower very economical and hence was of great importance for small scale conventional hydropower equipments and small wind turbines. This new design and alliance with MTI would give them increased manufacturing capability and direct access to rare-earth magnets, which are prevalent in China for building highly efficient generators.
Sierra Asia, which is a consulting firm based in Seattle but with ties in China would take on an advisory role and help Hydrovolts to develop its expansion in the Chinese market. The company’s principals are highly knowledgeable about the national programs that assist the companies with great potential in export in the US. Hydrovolts has also formed an alliance with Ershigs, a firm based in Bellingham, WA, that manufactures large components for industrial applications and fiberglass pipes. At present, the company is developing fiberglass composite parts for different wave energy and wind energy companies. Ershigs has invested in Hydrovolts and would supply turbine prototype and engineering help along with components such as floatation tanks and rotor blades for the production. Hydrovolts has also been affiliated with the US Department of Energy, the Harvard School of Engineering and Applied Sciences, the University of Washington, the Raytheon Integrated Defense Systems and the Woods Hole Oceanographic Institution. It has also won a number of awards from various bodies such as ImagineH2O, Zino Society and Cleantech Open for its sustainability initiatives.
Source: http://www.hydrovolts.com