They talk about the “valley of death” that technology startups face. Maybe for ocean energy it ought to be called the Mariana Trench of death. It’s deep, with precious little funding floating around to help a new wave or advanced tidal concept make it to the commercial prototype stage in the long development process.
Sixteen million dollars is a pittance in the larger energy scheme, but for wave and new tidal technologies in their infancy, every little bit of help is surely appreciated.
For the first time, power from the ocean is making its way onto a U.S. grid.