US wave investment could net NZ 'hundreds of millions'
A US government department has invested $US2 million in New Zealand green technology.
The US Department of Energy has invested $US2 million in a New Zealand wave energy project.
IRL deputy chief executive Drew Stein said future sales of the wave energy converters could inject “hundreds of millions of dollars” into the New Zealand economy.
An IRL spokesperson said these earnings would come via New Zealand company sales of either the converter itself or of crucial high-value components, sold to international manufacturers.
The device converts wave energy into electricity. Unlike most wave energy converters which rest on the water’s surface, the machine is anchored to the sea floor. There it registers water movement and converts it into electricity via on-board hydraulics.
The technology is the result of collaboration between Crown research institute IRL and Power Projects.
Trials of reduced-size models over the past three years have been successful. A recent quarter-size model generated electricity for 90 days with no down-time.
Mr Stein said the next step was a half-size device being manufactured in Christchurch. After testing, an identical set of controls and components would be delivered to the US for installation off the coast of Oregon.
But licences for the converters will only be signed after passing “strict” US Department of Energy review processes.
“Demand for clean, green energy has never been more economically important nor in more demand,” Mr Stein said.
Charlotte Woodfield
Tue, 19 Apr 2011
Tue, 19 Apr 2011
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US wave investment could net NZ 'hundreds of millions'
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