Dollard-des-Ormeaux, Quebec, July 26, 2010 – The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced that RSW RER Ltd. will receive $3 million in repayable funding to produce two hydrokinetic turbine prototypes, install them in the St. Lawrence River and test them. This technology showcase project will generate an investment of $12 million and create 25 jobs in the short term. This financial assistance has been awarded through the Business and Regional Growth program.
RSW RER will present the hydrokinetic turbine prototypes under actual working conditions in the St. Lawrence River to the many international visitors participating in the 21st World Energy Congress which will be held in Montréal from September 12 to 16, 2010. The company later intends to bring its innovative products to market, first in North America and then the rest of the world.
“Innovation is the cornerstone of our country’s socioeconomic development and global competitiveness. That is why the Government of Canada is proud to support RSW RER, whose capacity for innovation is paving the way to the development of a full-fledged hydrokinetic turbine industry in the Montréal area, while giving the country a pivotal role in clean, renewable energy. In addition, the industrial production and commercialization of this new type of hydrokinetic turbine will be of significant economic importance to Quebec because they will result in the creation of more than 1,000 quality jobs in various fields,” explained Minister ofs State Lebel.
RSW RER has developed a novel hydrokinetic turbine which converts the kinetic energy of aquatic currents into electricity. This subaquatic device is particularly well suited to shallow, high-flow rivers.
The Business and Regional Growth program seeks to help enterprises improve their performance, become more competitive and engage in more innovation to facilitate their sustainable development. It also aims to support the transfer of technology and research outputs to enterprises.
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Sources:
Suzanne Thebarge
Communications
Canada Economic Development
Tel.: 514-496-6714
Cell. : 514-702-3360
E-mail: suzanne.thebarge@dec-ced.gc.ca
Ève Cardinal
Special Assistant, Communications
Office of the Honourable Denis Lebel
Canada Economic Development
Tel.: 819-997-3319
E-mail: eve.cardinal@dec-ced.gc.ca
