Verdant Power was established in New York City in 2000 to produce technology for the marine renewable energy industry. The company produces simple, modular underwater turbines that use water currents in rivers and the ocean to generate electricity. The focus of the technology is on simple, modular installations and sites that already environmentally challenged have been targeted for early deployment so as to mitigate any hypothetical effects while full impact of the turbines is still being studied.
There are two major projects that define the company as follows:
Now in phase 3, this project is developing tidal power in New York City’s East River and was the first system ever licensed in the United States for commercial power generation. As of Phase 2, there were 6 full-scale turbines that successfully operated for over 9,000 hours combined and delivered 70 megawatt-hours of electricity. All operation was automatic, continuous, and unattended. Environmental monitoring was and has been part of the RITE Project. The project is now moving into its next phase, which will develop a megawatt of capacity using 30 turbines.
The CORE Project is taking place in Cornwall, Ontario on the St. Lawrence River. The project has an ultimate goal of 15 MW of capacity and is currently in phase 2. In phase 1, a total of four turbines were tested. In phase two, staged installation of turbines to total 5 MW of capacity began along with commercial delivery of energy to the grid.