Clean Current and Alstom Terminate Licensing Agreements

14 Oct

Effective on November 15, 2012, Alstom and Clean Current have decided by mutual agreement to terminate their 2009 agreements through which Clean Current licensed its technology to Alstom in the fields of tidal stream and ocean current power.

Alstom and Clean Current have decided to follow 2 different paths. Clean Current wants to initially focus on the commercial development of river turbines and tidal turbines for shallower water depths (<20 metres). The Company intends to progressively scale up to deeper water tidal and ocean current applications. Alstom’s intention is to pursue the larger utility scale opportunities in the nearer term.

With exclusive control over its technology returned, Clean Current will continue its leadership in the development of technologies for in-stream turbine electricity generation devices and other applications such as offshore wind and subsea/submersible motors. A commercial river turbine was recently released with deployment to occur in late 2012 or early 2013.  A shallower water tidal turbine (water depth <20 metres) will follow soon thereafter

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