Finavera Renewables Inc.

Finavera Renewables Inc.

September 20, 2007 10:54 ET

Finavera Renewables to Host Symposium on Ocean Energy and Participate at FERC Policy Workshop

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2007) - Finavera Renewables Inc. ('Finavera Renewables') (TSX VENTURE:FVR) is pleased to announce it is one the hosts of the "Symposium on Ocean Energy Law and Policy" to take place at Lewis & Clark Law School in Portland, Oregon. The Symposium will examine current federal and state laws relating to ocean energy, and include panel discussions on optimizing the regulatory environment in order to grow the industry.

Finavera Renewables is also pleased to announce the Company will participate in a key ocean energy workshop being hosted by the Federal Energy Regulatory Commission. The workshop will take place the day following the Symposium, and focus on a proposed new licensing process for ocean energy projects.

What: Symposium on Ocean Energy

When: October 1, 2007

Where: Smith Hall, Lewis & Clark College, Portland, Oregon

Confirmed participants at the Symposium include: FERC Commissioner Phil Moeller, Congressman Earl Blumenauer, Congresswoman Darlene Hooley, Congressman Greg Walden, and Allen Alley of Oregon Governor Ted Kulongoski's office. Co-sponsors of the event include Lewis & Clark Law School, Tonkon Torp LLP, and Sonnenschein Nath and Rosenthal LLP.

Further information on the Symposium can be found at:

What: Hydrokinetic Technologies Pilot Project Workshop

When: October 2, 2007

Where: Portland, Oregon

The purpose of the conference will be to review the proposed licensing process for hydrokinetic energy pilot projects and to seek feedback from representatives from industry, state and federal agencies, NGOs, Native American tribes, and members of the public. The goal of the proposed program is to complete licensing in as few as six months.

Further information on the FERC workshop can be found at:

Finavera Renewables CEO Jason Bak said, "Hosting this Symposium is representative of our desire to lead the ocean energy industry towards commercialization. Finavera Renewables recognizes its role in developing a dynamic new industry that has the potential to provide clean electricity to future generations."

On behalf of the Board of Directors,

Jason Bak, CEO

About Finavera Renewables Inc. (

Finavera Renewables Inc. is dedicated to the development of renewable energy resources and technologies. The Company's objective is to become a major renewable and green energy producer by developing and operating its assets in the wind and wave energy sectors. Finavera Renewables Inc. is developing the licensed and patented 'AquaBuOY' wave energy technology, a device that is based on proven and sustainable buoy technology. The Company is developing wave energy projects for AquaBuOY use in the United States, Portugal, South Africa and Canada. The Company is also developing other wind energy projects in Canada and Ireland. In Canada, a two stage 150 MW project is being developed in Alberta. Construction on this advance stage project is estimated to begin in 2008 and provides for near term revenue. In British Columbia, four projects totaling 366 MW have been entered into the provincial Environmental Assessment process, and several other sites are being developed. In Ireland, two pre-construction wind projects are under development with a potential capacity of 175MW. Data collection and environmental studies have been continuing at a number of sites in both countries.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Statements in this news release, other than purely historical information, including statements relating to the Company's future plans, objectives or expected results, constitute Forward-looking statements. Such statements represent management's conclusion based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including development risks. Further information concerning such risks is set forth in the Company's formal disclosure documents filed on SEDAR, including its MD&A. Consequently, actual results may vary materially from those described in the Forward-looking statements.

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of, this release.

Contact Information