WASHINGTON, D.C. — Today, the U.S. Department of Energy announced up to $38 million in funding for a new Advanced Research Projects Agency-Energy (ARPA-E) program, Submarine Hydrokinetic And Riverine Kilo-megawatt Systems (SHARKS). The program seeks to design economically attractive Hydrokinetic Turbines (HKT) for tidal and riverine currents.

“America’s tidal and riverine currents remain a valuable resource for the generation of clean and reliable electricity,” said Under Secretary of Energy Mark W. Menezes. “Developing efficient, economically attractive hydrokinetic turbine technologies will enable the United States to utilize those resources and continue to diversify our energy generation infrastructure and increase grid resiliency.”

“The SHARKS program builds upon the foundation of previous ARPA-E programs focused on utilizing our nation’s natural resources to explore new ways to generate renewable

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