Australia’s ocean energy company, BioPower Systems, and engineering and technology company, Siemens Ltd, announced today that they have signed a Memorandum of Understanding to evaluate and develop joint opportunities for ocean power conversion.

Additionally, BioPower has selected Siemens as its preferred supplier of electrical and control systems technology for its ocean tidal and wave energy conversion systems.

BioPower CEO Dr Tim Finnigan said Siemens expertise and global reach were a natural fit with BioPower as the company rapidly commercialises its next generation ocean energy technology. “BioPower Systems is planning to strategically develop low-cost electricity generation and systems integration technologies to ensure the cost-competitiveness of its bioWAVETM and bioSTREAMTM products in ocean energy farms,” he said.

Siemens is the worldwide leader in the field of offshore wind energy and has substantial experience in marine energy transmission. Siemens electrical drives have been utilised in BioPower’s wave and tidal equipment. Dr. Finnigan is confident that the cooperation will provide BioPower with leading turnkey solutions for ocean energy, and a secure supply of quality equipment from Siemens.

“BioPower and Siemens have identified specific joint development areas and over the coming months we intend to work together to form agreements for these areas of cooperation,” Dr Finnigan said.

“Using well-proven state-of-the art equipment configured and installed by experts gives us the highest level of confidence in the technologies as we move toward pilot testing in the ocean,”he added.

Siemens Ltd Chairman and Managing Director Mr Albert Goller said the partnership with BioPower Systems further cemented Siemens position as a major driving force behind the efficient and sustainable supply of energy in Australia.

“Siemens is hopeful that our collaboration with BioPower will translate into new opportunities to apply our innovative technologies in an area of considerable potential,” he said.

“BioPower’s unique ocean wave and tidal energy conversion systems open up a new source of renewable energy, and the natural synergy of our collaboration can create enormous benefits across the board.

“Siemens is working hard to innovate and deliver the technologies to address climate change, while also meeting the energy security challenge in our region. “As the provider of world-leading, technology-based and proven environmental solutions spanning not only energy, but also the areas of water, healthcare, productivity, mobility, safety and security, we see it as our responsibility to provide the innovative technologies required to meet Australia’s current and future challenges.

Mr Goller added, “Siemens has a comprehensive range of renewable energy solutions such as wind turbines, solar and photovoltaic technologies. We are a leader in energy, covering the entire value chain, and are developing a number of technologies for effective Carbon Capture and Storage. We also provide the state-of-the-art technologies for energy-efficient buildings, waste management and reduction.”

BioPower is currently commencing tests on power conversion equipment, including Siemens generator and drive technology, at a factory location in Sydney. The Siemens equipment has been supplied, and is being configured, by CNC Design. Managing Director of CNC Design,

Bruce Rowley, said “These unique ocean energy technologies provide a new application where we can really add value through our expertise in the automation and drive motion control areas.”

Following factory testing during 2009, the power conversion equipment will be integrated into a 250kW bioSTREAM tidal energy system and a 250kW bioWAVE ocean wave energy system, both planned for deployment at grid-connected ocean sites in Tasmania. BioPower Systems is working in collaboration with Hydro Tasmania to design the connection of the pilot units into the distribution grids at Flinders Island and King Island to supply tidal and wave energy to electricity end-users and to trial the technologies for an initial period of one year.

Larger commercial-scale projects are being investigated for development at locations in Australia and abroad following the pilot phase.

About Siemens in Australia and New Zealand Siemens commenced operations in Australia in 1872 and in New Zealand in 1876. Siemens is now recognised as of one of the most reliable and trusted brands in the region. With wellestablished businesses in both Australia and New Zealand, Siemens is a diversified technology-based solutions provider specialising in the areas of water, energy, environment, healthcare, productivity, mobility, safety and security. At the end of fiscal 2008 (September 2008), Siemens achieved AUD 1.875 billion in sales with 3,336 employees. Siemens in Australia and New Zealand is part of the Siemens global network of innovation which operates in 190 countries throughout the world. Siemens. Innovation for generations.

About BioPower Systems

Australia’s ocean energy company, BioPower Systems, is commercialising wave and tidal energy systems that incorporate revolutionary designs based on the concept of biomimicry. BioPower is designing its systems to naturally avoid extreme ocean forces, using light-weight construction, resulting in anticipated cost savings. The proprietary bioWAVETM and bioSTREAMTM technologies are designed to have a combination of lighter, more resilient structures to deliver both lower capital costs and lower energy generation costs.

www.biopowersystems.com

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