This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

U.S. Tidal Energy Company Announces Expansion In Scotland

NEW YORK, April 8, 2013 /PRNewswire/ -- U.S. tidal power company ResHydro has announced plans to establish operations in Glasgow, Scotland, becoming the first American renewable energy inward investment in Scotland.

ResHydro uses cutting-edge industrial science to harness the power of water currents to produce electricity. Establishing a base in Scotland will allow the company to work in partnership with the University of Strathclyde to advance its hydrokinetic energy generation device that requires further research and development to take it closer to commercialization. 

The partnership between ResHydro and Scotland is made possible with the support of a $152,000 financial award from Scottish Development International, the international arm of Scottish Enterprise, which is the country's economic development organization.

Welcoming the announcement, Scotland's First Minister Alex Salmond, said:

" Scotland has an incredible wealth of energy resources and is leading the way in the development of marine renewables technology. ResHydro's decision to invest in Scotland and work in partnership with one of our leading universities to further their research and development plans is testament to that.

" Scotland has hit the natural lottery twice, first with oil and gas and then with our green energy resources. We have astounding renewable energy potential and this Government has a responsibility to make sure Scotland capitalizes on the vast economic opportunities the industry presents.

"Our reputation as a work leader in energy, combined with our supportive business environment and highly skilled workforce, is a powerful proposition for overseas companies looking to succeed in this growing sector."

Samuel Lewinter, CEO, ResHydro said:

"The financial award, coupled with our partnership with the University of Strathclyde, positions ResHydro in the most vital marine power industry market. We are pleased to have the opportunity to open our Scottish subsidiary where we will have access to significant technical expertise and where market conditions will contribute to the most expeditious commercialization of our technology."

Professor Sir Jim McDonald, Principal, University of Strathclyde, said:

"As a leading international technological university, we are working closely with ResHydro to develop its R&D capabilities and support the company's ambitious plans in Scotland. The University of Strathclyde is home to the largest electrical power engineering and energy research grouping in Europe and our strong links with industry will ensure that Scotland continues to flourish as a leader in this vitally important sector."

Danny Cusick, President, Americas, Scottish Development International said:



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,058.02 +83.71 0.49%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,533.1340 -16.0920 -0.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs