Warrior Girl Corp. has signed a letter of intent to purchase American Hydro Energy Co., developer of a slow-moving hydrokinetic turbine designed to generate electricity from river currents.
Warrior Girl, based in Ewing, said it is involved in development and deployment of technologies in hydropower and in the extraction of oil from tar sands. Under terms of the letter of intent, announced Nov. 14, Warrior Girl would acquire all stock in American Hydro Energy, of Little Falls, Idaho, in return for restricted shares of common stock in Warrior Girl.
The purchase is subject to due diligence by both parties, which could be completed as soon as December. Warrior Girl said it has submitted all requested due diligence information to American Hydro Energy and initiated its own due diligence process.
American Hydro Energy’s business plan states it is working on a project to develop a $10 million, 10-MW river flow hydropower system that will be placed �at a strategic location� in southern Idaho, in the Snake River.
American Hydro Energy said it has developed proprietary techniques to increase the natural river flow velocity passing through a turbine, roughly based on the �venturi effect,� common in rocketry and jet engine applications. One venturi system forces water into the turbine while a second venturi system creates a low pressure region that pulls water through the turbine, increasing water speed.
American Hydro Energy said its technology differs from most other designs for obtaining power from a turbine in an open flowing stream of water. For example, positioning of the turbine vertically in the water differs from other designs. Vertical placement is expected to increase efficiency. Additionally, the exact orientation of the turbine blades is far less critical in obtaining maximum power.
�After this first 10-MW power system of this project is finished, we will contact the many hundreds of irrigation groups in the other western states which widely use irrigation pumping,� American Hydro Energy said. We will also expand the use of this technology with the hundreds of rural electric co-ops all over the country, along with municipalities, and demonstrate our technology to them.�
American Hydro Energy said it planned to form joint ventures with municipalities, rural electric cooperatives, and irrigation companies or farmer groups. Those entities, it said, would provide all financing while the company would build, install, operate, and maintain each hydropower system for 20 to 25 percent of all power sales.
Plans call for selling electricity generated by the hydrokinetic systems into the electric grid, using the Public Utility Regulatory Policy Act of 1978. PURPA allows for the sale of up to 10 MW of power from each site at a rate set by each state’s public utility commission.