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Contact:
Trey Taylor, Verdant Power
703-528-6445, ttaylor@verdantpower.com

Most Marine Renewable Energy Produced in the United States has been in New York City by Verdant Power – a Tidal Energy Company with Global Commercial Operations Underway

New York, NY, June 23, 2021 – Verdant Power’s grid-connected tidal power demonstration project in New York City has exceeded performance projections by every measure. The three turbines on a novel mounting system have exceeded energy output by 40%, generating over 275 MWh in eight months of continuous operation – a record for marine renewable energy production in the United States. Equally important, the system has been highly reliable and predictable, and has achieved operating cost targets. As the first U.S. commercially licensed tidal power project site, the Company’s Roosevelt Island Tidal Energy (RITE) Project activity is a demonstration of its fifth-generation tidal turbines integrated with its TriFrame™ mounting system – the next step to profitable commercial operations around the world.


In another world’s first, Verdant Power’s RITE Project tidal system performance was independently confirmed over a 39-day test period by Scotland’s European Marine Energy Centre (EMEC) under the new International Electrotechnical Commission (IEC) international standard. As the first authorized Renewable Energy Testing Laboratory, EMEC confirmed the high availability and water-to-wire efficiencies, including all losses, of over 50%.


It also is the first United Kingdom Accreditation Service accredited power performance assessment to be completed by EMEC at a site outside the centre’s own test facilities in Orkney, Scotland. According to John T. Banigan, Verdant Power Chairman and CEO: “This validated power performance will serve to underscore buyer, financial, and insurance confidence in Verdant Power’s tidal energy system.”


“The high level of performance and reliability demonstrated by Verdant Power’s system over this long-term deployment meets the requirements for commercial operations. As the first project with formal third-party confirmation under the IEC, the Company is accelerating its expansion into large developments worldwide,” said Verdant Power Chief Technology Officer, Dean Corren.


New York’s RITE Project is generating electricity under a license issued by the U.S. Federal Energy Regulatory Commission and is supported by New York State Energy Research and Development Authority and the U.S. Department of Energy, in addition to New York private equity investors.


About Verdant Power
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, the Company has developed industry-leading capabilities in 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.