Hydrovolts Raises $750,000 Equity Investment
Posted in Hydropower on February 21st, 2012 by News Desk –
Hydrovolts founder Burton Hamner
Hydrovolts grew out of a study of tidal power feasibility in the Tacoma Narrows of Puget Sound, which was commissioned in 2005 by the City of Tacoma.
The team, which was headed by Hydrovolts founder Burton Hamner, conducted 3-D current modeling, field studies, location and power analysis for turbines, a survey of all the existing tidal and river turbine technology, and permitting and economic analysis.
The study eventually concluded in December 2007 that utility-scale tidal power generation is very challenging and not economically competitive at the Tacoma site.
At the same time, according to Hydrovolots, Hamner determined that turbine technology could be successful at a smaller scale in rivers, canals and waterways.
The new company has invented in-stream hydrokinetic turbines. which it says “will revolutionize renewable in-stream power generation and make it cost-effective around the world.”
In its new regulatory filing, Hydrovolts indicates it plans to eventually raise a total of $1.5 million in the deal.
Image credit: Hydrovolts
