First Commercial Hydrokinetic Power Project In U.S. History Is Approved By FERC

HOUSTON, Dec. 15 /PRNewswire/ — The Federal Energy Regulatory Commission
has approved by a 5-0 vote the licensing and installation of the nation’s
first ever, commercially-operational hydrokinetic power station. The City of
Hastings, MN will soon rely on broadly patented technology from Hydro Green
Energy, LLC (http://www.hgenergy.com) to generate clean, emissions-free
hydrokinetic power from the Mississippi River.

“The Commission has made history with the Hastings Order. Hydro Green
Energy fully applauds all of the Commissioners for their leadership, as well
as their commitment to ensuring that the United States enjoys a cleaner and
more secure energy future,” said Wayne F. Krouse, Chairman and CEO of Hydro
Green Energy. “Hydro Green Energy is a proud partner of the City of Hastings
and is anxious to deploy its technology. What’s more, it’s only fitting that
this project is located in the Mississippi River, America’s most well known
river.”

Hydrokinetic power refers to the generation of electricity from moving
water without impoundments or diversionary structures that are typically used
at conventional hydropower facilities. Hydro Green Energy’s technology
operates in open rivers, tidal areas and oceans. Its broadly patented
technology (U.S. Patent # 6,955,049), which is the first surface-suspended
system in the industry, is also deployable downstream from existing hydropower
facilities (known as Hydro+(TM)), which allows for new, environmentally-
friendly power generation within the existing project footprint.

The City of Hastings is installing a Hydro+(TM) project at its 4.4
megawatt run-of-river hydropower plant on the Army Corps of Engineers’ Lock &
Dam No. 2. The power generated by the two hydrokinetic units, which each hold
a nameplate capacity of 100 kW, will be placed on the electric power grid
through Hastings’ existing electrical infrastructure. The Corps approved the
project on November 18. “The U.S. Army Corps of Engineers has been an
outstanding partner in this process and we thank the Corps for its attention
and willingness to support the development of new technologies,” stated
Krouse.

One turbine will be installed in December and one in April 2009. The
hydrokinetic power station, which will sit entirely within the Corps of
Engineers’ property and in a no-public access zone, was featured earlier this
year on CNBC’s Powering the Planet and on a November 18 segment on PBS’s
Nightly Business Report. The City filed its license application with FERC in
April of this year.

Once the project is operational, extensive water quality, fish survival
and avian studies will be performed by Hydro Green Energy. While all modeling
and simulations point to no water quality and possibly no fish mortality
impacts, Hydro Green Energy believes only rigorous, precise scientific studies
will settle these issues once and for all and allow the industry to move
forward in a more timely and orderly manner. To advance the understanding of
hydrokinetic technologies for all stakeholders, the comprehensive study
results will be made public as swiftly as possible, another first in the
industry.

“We are committed to demonstrating how our patented technology interacts
with the environment and are working to ensure that we possess the premier
technology in the hydrokinetic power industry from a marine life and
environmental standpoint,” said Krouse. “Modeling shows that our turbine is
extraordinarily environmentally-friendly, but we want real world results to
validate our simulations and look forward to sharing those results.”

The Hastings Project has resulted in 61 green jobs in seven states over
the past two years. This will only be replicated on a larger scale as the
company and its project portfolio grows. “Despite the great economic and
employment uncertainty facing the United States workforce, Hydro Green Energy
is providing work for Americans, creating local economic development and
presenting exciting new opportunities to America’s skilled workforce,” said
Krouse. “We greatly look forward to expanding these opportunities in the
coming years.”

The Hastings Project sits in the Mississippi National River and Recreation
Area, a unit of the national park system. The U.S. Department of the Interior
and the U.S. Department of Energy in November signed a Memorandum of
Understanding and publicly announced a new program that will help the National
Park Service showcase sustainable energy practices.

In announcing the program, which is known as Energy SmartPARKS, Secretary
of the Interior Dirk Kempthorne said, “this partnership will deploy energy
efficient and renewable energy technologies throughout the national park
system. We have the power to not only improve conditions in the parks, but
also demonstrate for the public the impacts and benefits of green energy
innovations.” Joining Secretary Kempthorne was Secretary of Energy Samuel
Bodman, who stated, “our national parks are a showcase of this country’s
natural beauty and historical significance. With this agreement, we’re
ensuring that these parks are also models of energy efficiency and clean
energy technologies.”

“The Hastings Project fits squarely into the program announced by the
Departments of Energy and Interior. I hope the Departments celebrate our
achievement and will work closely and cooperatively with the City and Hydro
Green as we monitor the performance of our technology and work to deploy
additional projects,” Krouse said. “We hope Secretaries Kempthorne and
Bodman, as well as the incoming secretaries of the Obama Administration, will
soon visit Hastings so they can see firsthand how hydrokinetic power
technologies will play a key role in our nation’s future clean energy and
economic strategies,” added Krouse.

Located approximately 20 miles south of Minneapolis-St. Paul, the City of
Hastings was founded in 1857. It has long relied on its rivers for commerce
and prosperity. The Hastings City Council unanimously approved the
partnership with Hydro Green Energy on four occasions. The project also
enjoyed the support of U.S. Representative John Kline, whose district is home
to the project, as well as Governor Tim Pawlenty, who has enacted several
strong renewable energy policies in the State of Minnesota.

“The City of Hastings, a town founded by pioneers, has tapped into its
pioneer roots to take a clear leadership position in the renewable energy
world,” stated Krouse. “We owe a deep debt of gratitude to Mayor Paul Hicks
and Public Works Director Tom Montgomery for their leadership, vision and hard
work, and to Governor Tim Pawlenty and Representative John Kline for their
strong support.”

Hydro Green Energy closed its $2.6 million Series-A funding round in
April, which was led by the Quercus Trust, a prominent investor in alternative
energy companies with intellectual property. Hydro Green Energy is presently
negotiating its Series-B funding, which the company expects to soon close.

Series-B funding will be dedicated to growing the company, advancing Hydro
Green’s many projects and an aggressive defense of the company’s intellectual
property. Hydro Green Energy is presently developing hydrokinetic power
projects in Alaska, Louisiana, Maine, Minnesota, Mississippi, New York and
Texas.

For more information on the project, please visit
http://hgenergy.com/hastings.html

[Via http://www.prnewswire.com]

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