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Finavera Renewables Signs Contract with SAIC for Ocean Energy Projects
Finavera Renewables Signs Contract with SAIC for Ocean Energy Projects.
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"\n\n\n\nVANCOUVER, CANADA, March 14 /CNW/ - Finavera Renewables Inc. (TSX-V:FVR)\nhas announced that SAIC, a leader in system integration, systems engineering\nand scientific services, will serve as the system integrator for Finavera\nRenewables' portfolio of ocean energy conversion programs and installation\nprojects. This agreement will combine the technology developed by Finavera\nRenewables with the engineering and marine experience of SAIC.\n\n\nAccording to the terms of the contract, SAIC, a research and engineering\ncompany, will provide system integration, systems engineering and design\nreview support, plus program and project management support. SAIC will work\nwith Finavera to develop, integrate, procure, install and test ocean energy\nconversion devices, including the patented "AquaBuOY" in marine renewable\nenergy parks.\n\n\nAlla Weinstein, Director and General Manager of Finavera Renewables,\nOcean Energy, said, "This is another significant step in our emerging\nindustry. This agreement brings two innovative companies together in the\ninterest of commercializing a new renewable energy technology, introducing it\nas an available resource and strengthening energy security. SAIC brings a vast\namount of marine engineering experience to the table, and we are thrilled to\nbe working with them on the development of our patented 'AquaBuOY' technology\nand generating projects. This agreement will advance Finavera Renewables\npursuit of the commercialization of the 'AquaBuOY' and the development of the\nwave energy industry worldwide."\n\n\nJason Bak, CEO, Finavera Renewables commented, "This agreement is of key\nimportance for the planned installation of an AquaBuOY device in the USA in\n2007. Working with SAIC will allow us to aggressively develop and construct\nthe AquaBuOY for this deployment. Following this initial installation, it is\nanticipated that a number of devices will be deployed in what is planned to be\nAmerica's largest wave park."\n\n\nAbout Finavera Renewables\n\n\nFinavera Renewables is a Canadian listed issuer dedicated to the\ndevelopment of renewable energy resources and technologies. The Company's\nobjective is to become a major renewable and green energy producer by\ndeveloping and operating its assets in the wind and wave energy sectors.\n\n\nFinavera Renewables is de...