Business
Finavera Renewables CEO Outlines 'Huge Potential' of Ocean Wave Energy in Address to United States Congressional Committee
Finavera Renewables CEO Outlines 'Huge Potential' of Ocean Wave Energy in Address to United States Congressional Committee.
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"\n\n\n\nWASHINGTON, April 25 /CNW/ - Finavera Renewables Inc. (TSX-V:FVR) CEO\nJason Bak outlined his vision for the advancement of the United States ocean\nenergy industry yesterday before a US Congress committee. Testifying before\nthe Joint Subcommittee Hearing on 'Renewable Energy Opportunities and Issues\non the Outer Continental Shelf', Mr. Bak asked for simplified and rationalized\npermitting regulations to allow the development of the industry.\n\n\nMr. Bak told the hearing, "My message to you today is simple: Ocean\nrenewable energy's time has come. This is not pie in the sky. We have three\nwave energy projects under development in California, Oregon, and Washington,\nand we are in discussions about others. These are not just paper projects. We\nare literally weeks away from issuing contracts that will put US steelworkers\nto work constructing our prototype wave energy buoy, which we are going to\ninstall off the coast of Newport, Oregon this summer."\n\n\nFinavera Renewables was the only wave energy company to be invited to\nparticipate in the hearing.\n\n\nMr. Bak concluded his testimony by saying, "I commit to Congress that\nFinavera will, if given a rational regulatory environment, deliver very large\namounts of clean energy, free of climate changing emissions, in an\nenvironmentally sustainable way, at competitive prices. We are the leaders.\nFinavera Renewable's Makah Bay project is the first and only wave energy\nproject to enter the federal licensing process. We understand and embrace our\nresponsibility to engage collaboratively with conservationists, fishermen,\nscientists, regulators and others - so that we get it right the first time."\n\n\nFinavera Renewables also welcomed Representative Jay Inslee's (D-WA)\nintroduction of legislation supporting the marine renewable energy sector. The\n'Marine and Hydrokinetic Renewable Energy Promotion Act of 2007' represents\nyears of hard work by Congressman Inslee in advocating for the ocean energy\nportfolio.\n\n\nTo view Mr. Bak's full presentation to the hearing, please visit our\nwebsite at: www.finavera.com\n\n\nAbout Finavera Renewables Inc.\n\n\nFinavera Renewables Inc. is dedicated to the development of renewable\nenergy resources and technologies. The Company's objective is to become a\nmajor renewable and green energy producer by developi...