Tuesday, April 15, 2008

Hydro Green Energy Raises $2.6M

Houston-based Hydro Green Energy, a hydrokinetic river power and tidal energy technology integrator and project developer, said Tuesday afternoon that it has raised $2.6M in a Series A funding round. The round was led by Quercus Trust. Hydro Green Energy said it would use the funding to accelerate the firm's growth, and deploy its first commercially-operational project. Hydro Green Energy uses river currents, tidal currents, and ocean currents to generate hydroelectric power. The firm claims that its technology eliminates the need to first construct dams, impoundments, conduits or other infrastructure for hydropower projects. More information »