The company has agreed with fellow Texas-based Wind Energy Systems Technology Group to study the potential of the combined system in the Gulf of Mexico.
Details were not available at this stage on the possible scale, arrangement or investment cost of the projects.
Hydro Green Energy said its patented hydrokinetic technology could help to firm up offshore wind power. It has filed 10 preliminary permit applications with the US Federal Energy Regulatory Commission (FERC) for three-year exclusive rights to develop the hydrokinetic portion of the projects, which would be off the coast of Texas.
A new funding round for the company is underway and is expected to close by the end of the year. In April, it closed a US$2.6M funding round led by Quercus Trust. Hydro Green Energy plans to complete a manufacturing plant next year for its various projects, most of which are onshore so far and the first is due to become operational within months.
In a statement, Hydro Green Energy's chief executive and chairman, Wayne F Grouse, said: 'While an enormous amount of work remains ahead of us and there is still much to learn about the Gulf's water currents, if the data we gather confirms that the Gulf has the currents needed for utility-scale ocean power, we plan to aggressively move forward to develop the world's first offshore wind-hydrokinetic power projects.'
