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04 Mar 2011 10:03:42

Pulse Tidal wins US grant

Pulse has been awarded a grant in the USA to begin development work in Alaska. Agriculture Secretary Tom Vilsack is driving the USDA Rural Development program, which will be funded in 27 states and the Western Pacific.

Funding is made available through the Rural Energy for America Program under the 2008 Farm Bill.

"The Obama Administration is committed to helping our nation become more energy independent by helping rural businesses build renewable energy systems," said Vilsack.

"The projects will provide rural small businesses and agricultural producers the opportunity to conduct feasibility studies for renewable energy system installations. These investments will not only help our farmers and small businesses reduce energy costs, but also help find renewable alternatives to generate energy," he said.

In Matanuska Susitna Borough, Alaska, Pulse Tidal LLC, has been selected to receive a $50,000 feasibility study grant for a hydrokinetic turbine project.

The programs are designed to improve the economic stability of rural communities, businesses, residents, farmers, and ranchers and improve the quality of life in rural America.

Rural Development in the US has an existing portfolio of nearly $142bn in loans and loan guarantees.

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