Halifax, July 12th, 2016

Minas Energy has entered into a partnership with International Marine Energy Inc (IME) and Tocardo International BV (Tocardo), using Tocardo’s tidal turbines. The new collaboration, Minas Tidal Limited Partnership (MTLP or Minas Tidal), intends to test Netherland-based Tocardo technology at the Fundy Ocean Resource Centre for Energy (FORCE) in the Minas Passage. In-water testing is anticipated in late 2017.

“We are looking forward to demonstrating Tocardo’s capabilities in North America and hope to make Nova Scotia the centre of our future manufacturing operations” said Hans Van Breugel, President of Tocardo.

“Minas Tidal presents a unique opportunity for our groups to work together, combining our respective expertise to build a Nova Scotian project development team, which will allow us to contribute to the development of Nova Scotia’s considerable tidal energy potential” said Jane Lowrie, Chief Financial Officer of IME.

Minas Tidal has commenced discussions with local supply chain companies including fabricators, marine contractors, system integrators, engineers and scientists early this fall. The partnership will also undertake comprehensive stakeholder consultation with First Nations, the fisheries industry, regulators, and communities and complete all regulatory requirements prior to testing.

“The renewable energy potential in the Bay of Fundy tides is attracting world-wide attention and respected international players like Tocardo and IME,” said Michel Samson, Minister of Energy. “The involvement of companies of this calibre, and the ability to test the different technologies they bring to the table here, will help Nova Scotia become a global leader in tidal energy and continue to build our economy.”

Minas Energy’s leasehold rights to the berth site at FORCE, along with a 4 megawatt power purchase agreement (awarded in December 2014) will be transferred to Minas Tidal, the new Nova Scotia-based development entity.

“We are thrilled to be part of this team” said John Woods, VP of Energy Development for Minas Energy. “It has all the right components for success. We are eager to get out into communities and meet with people to discuss the benefits of this clean energy project.”

The selected Tocardo technology consists of four, 250 KW T2 bi-directional open rotor turbine generators, which will be attaching to Tocardo’s patented semi-submersible Universal Floating Platform Structure (UFS). The platforms are held in place by catenary mooring systems. Each turbine can generate up to one megawatt of power, for a combined output of four megawatts, comprising the total berth allotment.

For over a decade Tocardo has been developing and deploying its tidal turbines in rivers and ocean environments.

Minas Energy was awarded a berth at the FORCE site in 2009 by the Nova Scotia Department of Energy. Under this new arrangement, Minas Energy will continue its prominent role in establishing a new marine renewable energy industry in Nova Scotia.

FOR BROADCAST USE:
IME is a Canadian company which is owned by Tribute Resources, of London Ontario, and the Calgary-based Himmelspach Group. In 2013 Tribute acquired Western Tidal Holdings Ltd., a British Columbia-based renewable energy company focusing on developing tidal power energy in B.C.
Tocardo is a Dutch-based company and a global leader in tidal energy solutions. Tocardo is focused on state-of-the-art technologies that maximize the potential of the tidal energy production worldwide.
Minas Energy is a member of Scotia Investments Limited, which traces its roots to R. A. Jodrey, one of Nova Scotia’s most successful entrepreneurs, whose first company was incorporated in 1920. After working in the Nova Scotian power generation business for nearly 80 years, the Minas Energy team was a key player in the founding of FORCE and this tidal energy project in Nova Scotia.

For more information:
Kris MacLellan, Project Coordinator
kris.maclellan@minasenergy.com
www.minastidal.com
Marla MacInnis
Nova Scotia Department of Energy

902-424-2917
Marla.MacInnis@novascotia.ca