Luna Innovations Incorporated has been awarded $1 million to advance its autonomous marine and hydrokinetic (MHK) monitoring system for intelligent converter health management.
The health monitoring system developed by Luna Innovations during this effort is expected to reduce operational and maintenance costs of MHK converters, offering a significant opportunity to maximize renewable energy production.
Commercialization of the tool is expected to provide better management through reduced lifecycle costs and increased reliability of MHK converters, according to the US Department of Energy.
The funding is provided through US Energy Department’s Small Business Innovation Research (SBIR) Phase 2 that aims to help small businesses advance their innovative concepts into prototype technologies.
The Energy Department granted $23 million for 23 new projects to advance their promising concepts that improve manufacturing processes, boost the efficiency of buildings, increase transportation sustainability, and generate electricity from renewable sources.