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5kW systems ready to be crated and shipped

New Energy Ships 5kW Systems for Industrial Outflow project in Singapore

September 2023

New Energy has shipped five 5kW saltwater ready EnviroGen Power Generation Systems for deployment in an industrial outflow channel of a multinational corporation on Jurong Island, Singapore. The five systems can recoup up to 25kW of power from the outflow to reduce the plant’s electrical footprint and improve overall plant efficiency. Power can be generated 24 hours a day as long as the plant is operating.

New Energy has partnered with HSL Constructors Pte Ltd who will do the onsite construction and installation with the support of New Energy personnel. Installation is expected to start late November 2023.

New Energy’s Systems capable of Utilizing Off the Shelf Solar Inverters

May 2023

Recent technical advances with New Energy’s 5kW EnviroGen Power Generation systems allow them to be connected to commercial off-the-shelf solar inverters. Not only does this approach reduce the need for specialized power conditioning equipment and improve New Energy’s supply chain capabilities, but it also increases the functionality of our overall product and service offering.

Dual channel off-the-shelf inverters allow for hybrid installations with one channel connected to the hydrokinetic turbine system and the other connected to a solar PV array or an additional turbine. The ability to combine the benefits of multiple renewable energy sources can lead to a more reliable energy source for remote communities and assist the transition away from relying on fossil fuels.

Two 25 kW turbines installed in a water supply channel in India

Jurong Island, Singapore

New Energy Expands Operations to Singapore to engage in Southeast Asia Market

September 2022

New Energy has proudly expanded its operations and employee base to Singapore in a strategic move to address the significant market opportunity for hydrokinetic power generation in Southeast Asia. The initial focus for New Energy will be on deploying energy recovery systems in industrial outflows in Singapore’s vast Jurong Island industrial complex and then eventually branching out into other market sectors.

These projects will utilize multiple New Energy 5kW EnviroGen Power Generation systems installed in the seawater outflow channels, recouping some of the energy that is otherwise lost before releasing into the sea. With the number of suitable plants in the region, it is anticipated that this will be a very significant market for New Energy’s technology and act as a steppingstone into other markets in Southeast Asia as well.

The first project for the company in this identified target market is anticipated for 2023.

New Energy Develops Saltwater Capable EnviroGen Power Generation Systems

August 2022

As New Energy’s systems become increasingly commoditized and are deployed in a broader range of applications, the demand for salt water capable systems has become increasingly apparent. As such, New Energy has developed a salt water capable version of our 5kW EnviroGen Power Generation System, the EVG-005s.

Predominantly utilizing a type of stainless steel developed for use in North Sea oil and gas installations, this system is suitable for power generation in some of the most severe environments. The 5kW system is expected to be deployed in small tidal streams, estuaries, and industrial outflows that utilize sea water in their day-to-day operations. The saltwater version will be available to the market in 2023.

EVG-005s being assembled in Central Alberta, Canada production facility

New Energy Announces C$5 Million Limited Partnership Opportunity

Canadian renewable energy company New Energy Corporation Inc. is excited to participate as a power producer in Nova Scotia’s 10 MW tidal energy commercial demonstration program. Participating in this limited partnership opportunity means advancing the integration of tidal energy technologies into Canada’s renewable energy mix and helping bring change for a sustainable future.

November 5th, 2021

The company is pleased to announce a C$ 5 Million limited partnership with associated Canadian Renewable Conservation Expense (CRCE) flow through tax treatment for Canadian residents and corporations. The offering has as its first project the 15-year, 800 kW Bay of Fundy Power Purchase Agreement signed with the Government of Nova Scotia. The technology for the project – New Energy’s EnviroGen 250 Tidal Series Turbine – is a scale-up from the company’s commercially available 5 and 25 kW EnviroGen Systems, which have been installed around the globe.

“The funds raised from this Limited Partnership will greatly expedite our developments with the Bay of Fundy project and other opportunities that we are pursuing globally. With the world moving towards a sustainable, clean future, we are very excited about the prospects for New Energy.”

- Clayton Bear, President & CEO

Bay of Fundy Tidal Energy Project

Part of a multi-megawatt call issued by the Nova Scotia Department of Energy & Mines, New Energy has received a permit for an 800kW tidal energy project in the Bay of Fundy. Along with the permit, a fixed rate 15-year power purchase agreement (PPA) is in place for the purchase of the power produced, which will be supplied directly to the Nova Scotia grid.

The 800kW project will yield an annual energy production cap of 2,102,000 kWh (2,102 MWh), displacing roughly 2,000 tonnes of CO2 emissions every year. The future potential of power generation in the Bay is tremendous with the potential to extract an estimated 2,500 MW of tidal energy without impacting the marine environment.

Flow-Through Shares for Canadian Investors

Canadian investors interested in participating in this LP opportunity have the added incentive of CRCE flow-through share tax treatment. CRCE was invoked to place the “renewable energy sector” on an equal footing and a level playing field with the non-renewable resource sector namely, the oil, gas and mining sectors, by treating CRCE as a deductible pool of expense with tax treatment similar to that of Canadian exploration expense ("CEE") under Section 66 of the Income Tax Act (Canada) (the "Act").

In summary, the three main Federal income tax incentives offered to "green" or "renewable" energy generation projects are as follows:

The immediate deduction available for certain expenses incurred in the development of CRCE-related "clean energy" or "green energy" generation projects;
The accelerated CCA (at a rate of 50% per year on a declining balance basis) permitted for all Class 43.1 Assets and Class 43.2 Assets used in CRCE projects, including an enhanced first-year allowance of up to 100% for projects in use before 2024; and
A "flow-through share" mechanism which permits "principal-business corporations" to adequately finance their business operations and also to effectively allocate certain expenditures to their shareholders for the purpose of assisting shareholders in sheltering their personal income.

“The accelerated capital cost allowance combined with the flow through share provision for renewable energy projects greatly enhances the attractiveness of investment in the sector for Canadian investors and we are confident it will lead to significant interest in the offering.”

- Clayton Bear, President & CEO

Sagkeeng First Nations Project Update

October 2021

Originally part of the Build in Canada Innovation Program (BCIP), New Energy has recently completed the installation of cables of 3 anchor blocks that will be used to secure a New Energy EVG-025H turbine (25 kW) on the Winnipeg River at the Sagkeeng First Nation. This turbine will serve to provide consistent, reliable renewable power to a Canadian First Nations community in Manitoba and, along with corresponding power electronics, is set to be installed in the Spring of 2022.

The first step of the installation process was extremely successful thanks to the help from the University of Manitoba and Turtle Island Innovation.