The investment forms part of a memorandum of understanding (MoU) signed between the Nova Scotia Department of Energy, the OERA and the TSB, in February 2014, aimed at improving the technology needed to generate electricity using high tides.
The research will result in development of enhanced sensing technologies for in-stream tidal energy applications.
The technologies will provide better data, improved data analysis, and collection methods while enabling the users to advance research faster to address technical challenges and to build a common direction for the economic opportunities associated with tidal energy.
Nova Scotia Energy Minister Andrew Younger said: "Our investment in innovative research and development creates new opportunities for Nova Scotia’s growing ocean technology sector."
"These collaborative research projects will help set the stage to develop a commercial tidal industry here in Nova Scotia — one that will see export opportunities around the globe."
In order to explore tidal-related topics, joint request for proposals will be issued for research projects in both Canada and the UK.
