Verdant Power has secured $6m funding including a US Department of Energy (DoE) grant to progress the next phase of its tidal project in New York City’s East River.

The DoE’s Office of Energy Efficiency and Renewable Energy approved $3m in co-funding support for the third phase of Verdant’s project, which will qualify its tidal system through to final test, demonstration and commercialization.

The New York outfit will install a full-scale 105kW TriFrame platform featuring three fifth-generation Free Flow turbines at the Roosevelt Island project site.

Verdant Power chief executive John Banigan said: “We are pleased to have received further support in the form of $3m from the DoE, which has been matched by private investment for the next phase of this crucial project to drive down cost.”

The system will generate power under a hydrokinetic pilot project license issued by the Federal Energy Regulatory Commission.

The project is also supported by the New York State Energy Research and Development Authority.