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Finavera Renewables CEO Offers Ocean Energy Solutions Before U.S. Senate Committee
Finavera Renewables CEO Offers Ocean Energy Solutions Before U.S. Senate Committee.
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[{"type":"text","content":"\n\n\n\nWASHINGTON, June 7 /CNW/ - Finavera Renewables Inc. ('Finavera\nRenewables') (TSX VENTURE:FVR) CEO Jason Bak outlined potential solutions to\nregulatory issues facing the U.S. ocean energy industry today before the U.S.\nSenate Energy and Natural Resources Committee. The committee was examining\njurisdictional concerns in the permitting process for ocean energy projects.\nIn his testimony, Mr. Bak asked for simplified and rationalized permitting\nregulations to allow more rapid development of the industry, which has the\npotential to generate one-tenth of the world's electricity.\n\n\nBak said, "The opportunity to speak to the Senate Energy and Natural\nResources Committee reinforces the leadership role Finavera Renewables has\ntaken in the ocean energy industry. The potential for the development of the\nocean energy industry is amazing, and Finavera Renewables is committed to\ncapitalizing on that potential. By taking a leadership role, we hope to\ninitiate positive changes that will result in the rapid growth of ocean\nenergy. There is strong momentum within industry and among the stakeholder\ngroups to bring this new energy resource online."\n\n\nIn late April, Finavera also testified before the House Committee on\nNatural Resources alongside environmental groups, scientists, coastal state\nleaders, and commercial fishermen to urge Congress to help promote ocean\nrenewable energy, while assuring protection for environmental and other\nstakeholder interests. Finavera Renewables has been leading the effort to\nprovide regulatory certainty for the ocean energy industry, and was the only\nwave energy company to be invited to participate in both of the hearings.\nToday's testimony follows up with key recommendations for resolving\njurisdictional issues for ocean energy.\n\n\nBak stressed the importance of streamlined regulations in today's\ntestimony, "These are real projects. U.S. steelworkers are at work today\nconstructing our second generation wave energy buoy, which we plan to install\noff the coast of Newport, Oregon this summer. Our Makah Bay project (in\nWashington State) is the first, and so far only, wave energy project to apply\nfor a federal operating license. We are leaders in an industry that is already\ncreating jobs and is poised to bring clean electricity, desalination, and, in\ntime, hydrog...