TEL-AVIV, Israel, May 28, 2015 /PRNewswire/ --
Blackbird International Corporation (OTCBB: BBRD), a global leader in renewable sea wave energy technology, is pleased to announce a major milestone for the company. Its fully owned subsidiary, WERPO, together with Beijing Capital Group (BCG) which represents WERPO in China, are in discussions with one of the most important electric companies in China for the purpose of building a very large infrastructure for ocean powered generators to produce clean and efficient electricity. WERPO concludes that this agreement has great potential in promoting WERPO's sea wave energy systems across China as well as a model for the entire region.
WERPO has initially proposed to build a 100 MW Power Station which should generate approximately $25 Million in annual revenues.
Shmuel Ovadia, director at WERPO and inventor of its proprietary sea wave energy technology, stated, "China is one of WERPO's strategic locations; it has the potential to supply enough energy for all of China due to the region's vast expanse of ocean. This is most important since there are growing environmental concerns in China."
As Bloomberg pointed out in a recent article, "World Energy Consumption to Increase 56% by 2040, led by Asia." China has already surpassed the U.S. for energy use since 2010.
In promoting renewable solutions, China must turn to sea wave technology to supplement the energy lost from shutting down conventional and nuclear-based power plants.
The Global Status Report, released by the Renewable Energy Policy Network for the 21st Century, said China invested more in renewable energy than all of Europe did in 2013. New renewable power capacity surpassed new fossil fuel and nuclear capacity in China for the first time.
In 2013, China's investment in renewable energy was $56.3 billion, accounting for 61 percent of the developing-country investment in renewables.
About WERPO, sea wave energy technology:
WERPO, having received the rights for all of SDE Ltd's technology, property, know-how, IP (patents, et. al.), contracts and subsidiaries, is able to promote its sea wave energy solution in China.
WERPO's unique technology is based on the utilization of sea waves' rise and fall to yield hydraulic pressure that produces electricity, while exploiting the full potential of wave speed, height, depth and currents beneath the surface of the water. With this technology, chosen number one in its field by an independent team of scientists form PESWiki and also as one of the top 100 renewable energies (http://peswiki.com/index.php/Directory:S.D.E._Energy_Ltd. ), WERPO can provide the best solution for China's energy needs.
WERPO holds a patent in China (patent nu. ZL 200980000308.3), and continues the work on finalizing the pilot plant with its local partners.
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
For further information please contact:
Maximum Performance Advisors, Inc.
SOURCE Blackbird International Corporation