SDE Is Turning to the NASDAQ - The Company Is Looking to Purchase an Empty-Shell Company

Nov 02, 2006, 00:00 ET from SDE Ltd

    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