A panel of four specialists has been chosen to consider applications to the Marine Energy Deployment Fund, the Government said today.
The panel will allocate grants to projects which aim to develop and harness New Zealand's tidal wave technology.
Energy and Resources Minister Gerry Brownlee said New Zealand had enormous potential to create renewable electricity generation from its oceans.
"Technological advances are being made continually and it's to our advantage to stay at the forefront of these as we explore the potential of the country's waters," he said.
The panel members are Nick Barneveld, an investment services executive, Tony Carter, Managing Director of Foodstuffs, Emily Rudkin, a renewable energy specialist and Andrew Thompson, a Fulton Hogan manager.
