A tidal power company has proposed building a $62 million hydropower research and demonstration facility at Half Moon Cove in Cobscook Bay.
Halcyon Marine Hydroelectric, with offices in Utah and Washington, D.C., is willing to fund the project, but ownership and 85 percent of the revenues would be retained by the city of Eastport, according to a company official.
Halcyon founder Ramez Atiya said Wednesday that his company is a finalist in bidding on construction of a massive tidal power system in the United Kingdom. He said he also has wanted to build a demonstration and research facility to help promote his new technology worldwide.
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Source: Bangor Daily News