WAVE energy company BioPower has been awarded a $5 million grant under the Federal Government's AusIndustry Renewable Energy Development Initiative (REDI).
The grant will be matched by BioPower to fund a $10.3 million project involving the development and testing of the company's wave and tidal energy converters.
The funds will also be used in the development of new designs and production of methods in preparation for the manufacturer of commercial products at the end of the pilot project in 2009.
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