Singapore-based Atlantis Resources Corporation (ARC) now owns the property rights to a tidal-power generator dubbed the 'Aquanator', invented by Tullymorgan resident Mick Perry.

Mr Perry and about 200 other investors formed Atlantis Energy Ltd now Yamba Energy Ltd to begin trials of the Aquanator, but a lack of government support meant the company needed to look more broadly for help.

In 2005, Mr Perry met with a group of entrepreneurs who sat on the Queensland Government's Mentoring for Growth Partnership panel.

From there, Mr Perry was introduced to others who were able to take the concept further. And, despite the lack of government support, things began to fall into place.

"Now, I'm not political, but when you see the pain of the start-up companies in Australia that have now had the (research and development) grants stopped, we're in a worse situation now than when Rudd came in," he said.

"Whether we have Liberal or Labor in government, we're in a situation where our mineral resources are so rich that we do nothing else but support the mining industry.

"It's extremely disappointing that the Australian Government will not support start-ups and constantly change their policies to make sure start-up companies can't get money this technology ended up in Singapore because of it."

Recently, one of the world's largest investment banks, Morgan Stanley, decided to invest in the tidal-power technology and is now the largest shareholder in ARC.

In Australia, the technology is being trialled in waters near the Phillip Island Bridge in Victoria, where fast water flow is generated.

Mr Perry said trials of the unit were generating about 150 kilowatts of power, much better than in the slower tidal flows of the Clarence River where less than two kilowatts of power was generated.

Now a shareholder in ARC, Mr Perry said he will slow up and enjoy the benefits of his work.

"As an innovator and a start-up person I'm probably over it," he said with a laugh.

"A lot of people would never contemplate how complex and difficult it is. Now, I want to enjoy time with my family and this beautiful area we live in, and basically enjoy life.

"But the people I'm happiest for most are people from this local area the single mums, the single dads, the families and others that backed the technology in the early days on the Clarence River.

"I feel proud of the local people that backed it."

Source: Daily Examiner (http://www.dailyexaminer.com.au/storydisplay.cfm?storyid=3785225)

---