Jupiter FL (SPX) Apr 04, 2011
Hydro Alternative Energy has announced that in connection with its previously announced joint venture agreement with MRS Holdings Limited ("MRS") to develop hydrokinetic energy projects in the West Africa region and elsewhere, Sayyu Dantata, MRS' President and majority stockholder has been appointed as a member of the HAE Board of Directors. MRS is a major diversified holding company involved in oil and gas, shipping, and other businesses.
Commenting upon Mr. Dantata's appointment to the Company's Board of Directors, Mark Antonucci, HAE's Co-Chief Executive Officer, said, "We are most pleased to have Sayyu join our team. He is a proven successful businessman who brings a wealth of talent, skill sets, international contacts and relationships to the table. We are confident that he will provide valuable guidance and insight into our various planned internationally focused green technology projects."
Commenting further upon the Company's view that the international reception for hydrokinetic energy projects may further increase in view of public safety concerns over nuclear power development, Mr. Antonucci was quoted as saying: "We share the world's heartache and sadness over the recent events in Japan, and are mindful of the current concerns of much of the international community relating to nuclear power acceptance and development."
Mr. Antonucci cited a recent New York Times article which discussed a March 2011 nationwide poll reflecting a sharp decrease in acceptance of nuclear power in the U.S. in the wake of the nuclear crisis in Japan.
The article stated that only 43 percent of those polled after the failure of the Fukushima Daiichi plant in Japan said they would approve building such new facilities in the U.S. to generate electricity.
That is a steep decline from the 57 percent who said in 2008 that they approved of new plants in the U.S. Mr. Antonucci also cited a number of international reports reflecting the concern of various European and African energy ministers and their public constituents in the wake of the Japanese nuclear crisis relating to their countries' current and future nuclear energy facilities and policies.
In furtherance of the HAE-MRS joint venture, the companies plan initially to advance the terms and conditions of a Memorandum of Understanding ("MOU") dated October 15, 2010 by and between a prior MRS subsidiary, since assigned to a jointly owned HAE-MRS entity, and the Government of the Republic of Cameroon, Ministry of Energy and Water Resources.
Such MOU provides, among other things, for feasibility studies to be undertaken for the development and operation of facilities for the production of tidal electric power, and for the Cameroon Government to facilitate access to and grant certain exclusivity rights with respect to the project sites that will be selected as part of the feasibility studies and construction of electricity generation facilities to be undertaken.
Mark Antonucci concluded by saying: "Clearly, many areas of the world are in critical need of low cost, reliable, safe electrical power. Together with our partner, MRS, we plan to introduce our green technology solutions for the development of sustained, safe, cost-effective electric power generation utilizing hydrokinetic energy to regions having such need. We are confident that the governments and the people of all the countries that we plan to work with, together with MRS, will benefit tremendously from this source of clean energy, which can serve as a catalyst for steady business and economic growth."
Share This Article With Planet Earth
New Zealand to slash emissions by half
Wellington, New Zealand (UPI) Mar 31, 2011
New Zealand aims to reduce greenhouse gas emissions by 50 percent from 1990 levels by 2050. Speaking at New Zealand's Climate Change Research Institute Forum Thursday, Climate Change Minister Nick Smith said that feedback from a recent survey supported setting a long-term emissions reduction target, with responses ranging from skepticism about climate change to those who wanted a much s ... read more
Developing Commercial Hydrokinetic Energy Projects|
New Zealand to slash emissions by half
US energy future hazy on Japan, environment fears
Report: China leads in low-carbon energy
Cuba to drill five new oil wells by 2013
Using River Water And Salty Ocean Water To Generate Electricity
First Practical Nanogenerator Produces Electricity With Pinch Of The Fingers
Oil prices diverge after China hikes rates
Manitoba wind farm comes online
Alstom Announces Commercial Operation Of First North American Wind Farms
Vestas unveils new offshore turbine
US hopes to resolve China wind turbine rift
UNI-SOLAR Powers Largest Solar Power Plant In French Riviera
Unirac Partners With Wise Power Systems On Breakthrough Solar Installation
City to build solar carports with chargers
JA Solar Announces Strategic Partnership With Jabil
Britain, France talk about nuke projects
Bulgaria, Russia halt work on nuclear power plant
Nuclear Power Investment Must Not Be Delayed
US nuke reprocessing would benefit French firm: study
Boeing Issues First Latin American Study On Jatropha Sustainability
Key Plant Traits Yield More Sugar For Biofuels
Boeing sees new potential in plant biofuel
Camelina-Based Biofuel Breaks Sound Barrier
What Future for Chang'e-2
China setting up new rocket production base
China's Tiangong-1 To Be Launched By Modified Long March II-F Rocket
China Expects To Launch Fifth Lunar Probe Chang'e-5 In 2017
Communicating Uncertain Climate Risks
Climate Talks: Storm Clouds Ahead
Cutting Carbon Dioxide Helps Prevent Drying
UC Research Explores Why Ancient Civilization Was Living On The Edge
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement|