Business
Local company nets $300K for hydropower research
Posted: Sep 7, 2011 10:25 AM by Andy Koen
The U.S. Department of Energy announced Tuesday that Colorado Springs based Near Space Systems will receive $300,000 in funding over the next three years to research advanced hydropower technology.
Near Space is the only company in the state and one of 16 in the country to receive a share of $17 million in money for sustainable hyrdopower research. Their design applies a modular concept to hydropower turbines that would harness energy from outlet pipes.
If successful, the project should accelerate renewable energy production from small hydropower plants. Energy secretary Norman Chu said the funding should help develop better hydro-electric power creating a sustainable clean energy source for the future.
"Hydropower can be used to store energy to help utilities better integrate other sources of renewable energy like wind and solar into the grid, improving our energy security and diversifying our clean energy resources," Chu said.
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