Two German industrial giants-Voith Hydro and RWE Innogy-are forming a joint venture to pursue "ocean current" projects that they say have a significant reliability advantage over other renewable energy technologies in the production of steady and predictable power levels.rnIn establishing Voith Hydro Ocean Current Technologies, the two companies agreed to invest more than $38.3 million over the next several years toward the development of several underwater demonstration power plants designed to harness the kinetic energy of ocean currents to generate electricity.
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