Hydro Green Energy CEO Testifies Before U.S. Senate Environment & Public Works Committee

Green Jobs and Economic Growth Via Climate Change Policy is Focus of Senate Oversight Hearing on Capitol Hill

HOUSTON, May 19 /PRNewswire/—At a hearing today in Washington, DC, Wayne F. Krouse, Chairman and CEO of Hydro Green Energy, LLC, a renewable power company operating in the waterpower sector, spoke to members of the Senate Environment and Public Works Committee about the potential business development and economic growth opportunities facing this country through the implementation of new clean energy policies, such as climate change legislation.  Mr. Krouse focused on the job creation resulting from the company’s first power project in Hastings, Minnesota, as well as projected job creation that will occur with the company’s growth and development of its many renewable power projects across the nation.

“I am here to state very clearly that properly structured policies, such as climate change legislation that recognizes and financially values the many benefits of our nation’s new waterpower technologies, particularly their carbon-free profile, will act as a huge driver for growth and development of this clean technology sector,” said Krouse.  “Recent policies have helped ensure our traction in the marketplace, as well as interest from the investment community, but additional policies are needed now, especially as the U.S. continues to struggle to emerge from the economic crisis, with venture capital and debt finance largely remaining on the sidelines.”

Hydro Green Energy has developed a number of patented waterpower technologies that generate clean, renewable electricity in a variety of settings.  Hydro Green Energy’s Hastings, MN hydrokinetic power project is the only hydrokinetic facility with a federal operating license and is the only U.S. hydrokinetic power project exporting electricity to the U.S. power grid for sale.

Hydro Green Energy, a venture capital funded start-up company, is exploring the commissioning of a manufacturing facility and is presently developing 15 waterpower projects in Alaska, Illinois, Iowa, Louisiana, Minnesota, Mississippi, New York, Texas and Wisconsin.  These projects will amount to over 500 MW of clean, domestic, renewable power. 

Hydro Green Energy is presently finalizing the Series-B term sheet it has in hand and recently received the distinguished 2009 President’s Award from the National Hydropower Association.  Mr. Krouse’s testimony, as well as more information on Hydro Green Energy, can be found at www.hgenergy.com

SOURCE Hydro Green Energy, LLC

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