Fishermen's Energy Signs Department of Energy Grant

Aug 8, 2014

At the end of Steel Pier, with the ocean as a backdrop, Fishermen's Energy, US Senator Robert Menendez, State Senator Jim Whelan, Atlantic City Mayor Don Guardian, Jose Zayas, US Department of Energy ('DOE') Director of the Wind and Water Power Technologies Office and numerous officials, memorialized the $46.7 million of grant funding over four years to accelerate the commercialization of innovative offshore wind technologies in the United States.

This funding will supplement the investment by Fishermen's Energy principals to finalize construction planning, fabrication, and deployment to achieve commercial operation by 2016, of a demonstration windfarm of five turbines 2.8 miles off of Atlantic City, potentially the first offshore windfarm in America.

'Clean, responsible energy development projects like this bring good-paying jobs to our state and help us modernize New Jersey's economy,' said Senator Robert Menendez. 'We must continue looking into innovative energy options - like clean wind and solar projects - that can one day become the next energy giant and can reinvigorate our workforce in the 21st century global economy.'

'Projects like Fishermen's Atlantic City Windfarm and the other projects sponsored by the Department of Energy are a first step in the direction of a building a robust sustainable energy infrastructure,' said Chris Wissemann, Fishermen's Energy CEO. 'The support provided by Congress, specifically the NJ delegation, and the Department of Energy is critical to bringing offshore wind to the United States. Our goal here in Atlantic City is to build a commercially operational wind farm that demonstrates job creation and specifically to show that these types of projects create benefits that far exceed their costs,' Wissemann continued.

'Green Energy is the future. Atlantic City has its windmills and they have proven to be an attraction and people love them,' said Atlantic City Mayor Don Guardian.

'This industry has created over 60,000 jobs in Europe,' stated Paul Gallagher, Fishermen's COO & General Counsel. 'We would like to bring some of those jobs here', Gallagher continued. 'Fishermen's Energy is honored to receive this award. Being selected in a national competitive process is a tremendous acknowledgement of the DOE's confidence in the project, the technology, and the team,' stated Rhonda Jackson, Fishermen's Director of Communications. 'The Fishermen's Energy demonstration project will become a showcase for offshore wind and Atlantic City is the perfect host for this new technology,' continued Jackson.

Next Steps

Fishermen's Energy has all Federal and State permits necessary for construction of the first demonstration offshore windfarm to be built in the US, making the Atlantic City resort the birthplace of offshore wind in the Americas. Construction in Atlantic City is planned to commence onshore in 2015 with offshore construction and commissioning by Fishermen's of the first grid connected US offshore windfarm in 2016.

About the Department of Energy initiative:

In March 2012, DOE announced the start of an ambitious initiative to capture the potential of wind energy off American coasts. As part of a planned six-year $180 million initiative, these

offshore wind projects will accelerate the deployment of breakthrough wind power technologies that will help diversify our nation's energy portfolio, promote economic development, and launch a new industry here in America. The Energy Department's efforts to advance innovative offshore wind technologies support the Obama Administration's comprehensive National Offshore Wind Strategy to develop a sustainable, world-class offshore wind industry. As part of that strategy, the Energy Department continues to work with partners across the government, including the Department of the Interior, to conduct resource assessments, streamline siting and permitting and overcome technical and market challenges to installation, operations and grid

About Fishermen's Energy

Fishermen's Energy is a developer of offshore wind energy projects, founded by New Jersey commercial fishermen to respond to the public's need to develop the ocean for renewable wind energy. Fishermen's goal is to turn Atlantic coastal waters into an unmatched source of clean energy, while maintaining a vibrant commercial fishing industry. Fishermen's Energy has partnered with experienced professionals in the renewable energy and the offshore wind business community to propose, plan, and build responsible projects to serve the public's need for safe renewable energy. Fishermen's Energy intends to harvest the wind and the sea, side by side, in an environmentally responsible and sustainable manner.

For more information:

Fishermen's Energy

985 Ocean Drive
Cape May, New Jersey
United States, 08204
Tel: 609-88403000

Rhonda Jackson, Director of Communications
Fishermen's Energy, LLC
Tel: 609-374-1387
E-mail: rhonda.jackson@fishermensenergy.com

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