BioPower Systems receives new funding of $5.6 million from the Australian Government
The Federal Minister for Resources and Energy, Martin Ferguson AM MP, announced a $5.6 million grant for BioPower Systems’ $15 million bioWAVE Pilot Demonstration Project off the coast of Victoria. These funds add to the $5 million recently awarded to the project by the Victorian Government, confirming all funds required to complete the project are now in place. BioPower Systems, and several project partners, are also contributing funds, equipment, or services, in support of the $15 million project.
The 250kW bioWAVE pilot is scheduled for deployment in late 2013, with a planned operating and testing period of 21 months. The pilot will be connected to the national electricity grid, and is expected to supply enough power for up to 250 homes. Planning, site development, permitting, and engineering design are all underway, and construction of the bioWAVE unit is expected to commence within months.
BioPower Systems is extremely grateful for the support of the Victorian and Australian governments.