SDE Is Turning to the NASDAQ - The Company Is Looking to Purchase an Empty-Shell Company
TEL AVIV, Israel, Nov. 2 /PRNewswire/ -- SDE Energy, which develops conversion systems to produce electricity from sea waves, has been given an option to purchase an empty-shell company on the NASDAQ. The shell company is currently listed on the Pink Sheets and will be sold in return for a share of SDE. The company will be transferred completely free of debts. SDE has yet to record any sales but has signed agreements with governmental authorities and private developers in several countries. Energy experts say that any new listing of a clean energy company would enjoy tremendous success in the American stock market. SDE is currently seeking to raise 2 million USD based on a company worth of 20 million USD. Global warming, rising oil prices, worldwide shortage of electricity and pollution created by burning fuels have made sea waves the largest and most attractive source for clean, economical energy production today. S.D.E has designed a proprietary technology for production of electricity through "harvesting" sea wave motion, even in the harshest weather conditions. Commenting Shmuel Ovadia, Managing Director of SDE Energy, said: "Our system is built on one side of wave gatherers, which can also serve as breakers. It is composed of a system of channels of hydraulic oil, whereby the rise of the pistons creates pressure on the hydraulic oil. The hydraulic oil is accumulated in a pressurized container and is then directed toward a hydraulic motor. This energy turns an electrical generator, which produces electricity." The erection cost of a 1MW S.D.E. station starts from $650,000 while a comparable station costs $1,500,000 from coal, $900,000 from natural gas, $1,500,000 from solar sources, and $3,000,000 from wind. Using S.D.E. technology, production of electricity is around 2 cents, compared to 3 cents from coal, 3.5 cents from natural gas, 12 cents from solar energy, and 3.6 cents from wind. * For further details, please contact Mr. Shmuel Ovadia, Managing Director 972-3-7397107 firstname.lastname@example.org http://www.sde.co.il
SOURCE SDE Ltd
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