The test involved the turbine prototype being positioned in the Intracoastal waterway by a HAE chartered vessel and successfully demonstrating the production of electrical current through simple, effective testing methods.
“We are excited about the results of such initial testing, which far exceeded our expectations,” said Mark Antonucci, Chief Financial Officer and co-founder of HAE. “Our turbine technology will clearly accelerate our efforts to produce working turbines for clean, low cost electric energy production and deployment in slow moving water in areas not yet currently serviced.”
The company recently acquired all US and international patent and intellectual property rights to water power technology which are the subject of an exclusive licensing agreement between Water Power Technologies LLC (WPT), a wholly-owned subsidiary of HAE, which the company previously reported as having acquired in December 2009, and HAE.
HAE believes that the basic design of the technology set forth in the patent pending applications will save approximately two to three years of research and development.
