BAE Systems invests in Canadian hydrokinetic R&D
Vancouver’s Instream Energy Systems gains access to funding, R&D facility.Comments Off on BAE Systems invests in Canadian hydrokinetic R&D
Vancouver’s Instream Energy Systems gains access to funding, R&D facility.
Vancouver – BAE Systems announced an agreement to assist the ongoing technical needs of renewable energy company Instream Energy Systems. The Vancouver-based company specialises in developing and installing hydrokinetic power generation systems, which convert the kinetic energy in moving water into electricity.
The agreement is designed to support Instream’s renewable energy technology’s successful commercial development by granting the company ongoing access to the BAE Systems’ Advanced Technology Centre (ATC).
According to the company, ATC is one of the world’s most advanced research & development facilities, specializing in micro and nano technology, biofutures and robotics. Its backing will allow Instream to further develop its hydrokinetic turbine technology by incorporating the latest materials and manufacturing techniques.
“BAE Systems technological development and commercial fund raising support will accelerate the commercialization, in Canada, of this Canadian renewable energy innovation,” said Patrick Earle, Chief Executive Officer of Instream. “Last year, we worked solidly with BAE Systems on a demonstration project at Duncan Dam, British Columbia. BC Hydro granted us temporary access to the tailrace at Duncan Dam and we worked with their wholly owned subsidiary Powertech Labs to gather the necessary base data for the technology’s development. Instream’s extended agreement with BAE Systems will focus initially on the development of the next generation of hydrokinetics technology, but also allows us the facility to support other areas of our business
According to BAE, all intellectual property developed as a result of this cooperation will rest solely with Instream. The company is also currently partnering with Canadian companies, including DEW Engineering, Soucy, Thales Canada and others on priority vehicle programs for the Canadian Armed Forces.