Menu
Business

Mick Perry's generating interest

A CLEAN energy-generation system invented by a Clarence Valley man may eventually supply up to 15 per cent of the energy needs of the United States and United Kingdom.

Singapore-based Atlantis Resources Corporation (ARC) now owns the property rights to a tidal-power generator dubbed the 'Aquanator', invented by Tullymorgan resident Mick Perry.

Mr Perry and about 200 other investors formed Atlantis Energy Ltd, now Yamba Energy Ltd, to begin trials of the Aquanator, but a lack of Government support meant the company needed to look more broadly for help.

In 2005, Mr Perry met with a group of entrepreneurs who sat on the Queensland Government's Mentoring for Growth Partnership panel.

From there, Mr Perry was introduced to others who were able to take the concept further. And, despite the lack of Government support, things began to fall into place.

“Now, I'm not political, but when you see the pain of the start-up companies in Australia that have now had the (research and development) grants stopped, we're in a worse situation now than when Rudd came in,” he said.

Recently, one of the world's largest investment banks, Morgan Stanley, decided to invest in the tidal-power technology and is now the largest shareholder in ARC.

In Australia, the technology is being trialled in waters near the Phillip Island Bridge in Victoria, where fast water flow is generated.



Valla search unable to find missing swimmer

An aerial view of Valla Beach.

Hopes of finding swimmer who went missing at Valla Beach are fading.

Son of Ibrahim's bodyguard gunned down in Coffs Harbour

SHOOTING VICTIM: Nemilote 'Nim' Ngata (right) with John Ibrahim. Ngata was shot in Coffs Harbour on February 10, 2018.

The son of Semi Ngata, shot three months ago, was hit by a shotgun

Environment groups walk away from NSW forestry negotiations

LOGGING LOGGERHEAD: Peace between environment groups and the NSW Government is threatened.

Agreements between government and environmentalists threatened

Local Partners