BOSTON — A tidal energy company from New Bedford received a $100,000 grant for development of its renewable energy technologies.

Natural Currents New England LLC received the grant from the SEED program, an initiative of the Massachuisetts Renewable Energy Trust, that supports the growth and commercialization of renewable energy related product development and facilitates companies' access to private capital.

In announcing the grant, Sen. Mark C.W. Montigny, D-New Bedford, said, "This funding exemplifies two important trends that are happening here in New Bedford. One, the state is using targeted funding to leverage important capital from the private sector. Two, New Bedford is becoming a center for environmental sustainability and investment in renewable technologies."

Natural Currents New England, LLC is a tidal energy company with a new rim generator design. It holds seven FERC tidal energy testing permits, including two in the state. The company seeks to manufacture its unique energy generators and develop tidal power plants in the U.S. and worldwide. Natural Currents will work closely with UMass Dartmouth and local partners in Massachusetts.

SEED funding will be used for working capital. With it, Natural Currents plans to test its recently completed 20-kilowatt system in Cape Cod and improve the product design.

Source: southcoasttoday.com 

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