Hydro Green Energy, LLC, a Houston , TX-based renewable energy development company with proprietary hydropower technology, has secured an equity capital and project development investment from Providence Renewables, LLC.
The company intends to use the funds, whose amount remained undisclosed, to accelerate the development of its nearly 1,000 MW pipeline of low-head hydropower projects, hire additional technical, commercial and regulatory personnel, and continue to conduct R&D of its technologies.
HGE also announced the appointment of Michael P. Maley as President and CEO. Wayne F. Krouse, founder of HGE was named Executive Vice President of Technology and Chairman of the Board.
The company has developed and installed a commercial, FERC-licensed hydrokinetic power plant in Hastings, MN, which uses its patented technology. It is currently advancing 34 low-head hydropower projects at existing non-powered dams in Alabama, Iowa, Illinois, Kentucky, Louisiana, Minnesota, Missouri, Mississippi, North Carolina, Ohio, Oklahoma, Pennsylvania, Wisconsin, West Virginia and Texas.
FinSMEs
08/05/2011