TEL AVIV, Israel, July 14, 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, has received approval for a renewable energy project from the Ceylon Electricity Board (CEB), the largest provider of electricity in Sri Lanka. The initial plant would have a capacity of 10 Megawatts, while 10 additional plants are proposed to be set up consequently. WERPO has created a local subsidiary in Sri Lanka as a result of this approval.
Shmuel Ovadia, director at WERPO and inventor of its proprietary sea wave energy technology, stated, "WERPO's local subsidiary will sell power to CEB at 10 cents per unit, at this rate the company would recover its investment within 4 years."
This comes as the Energy Conservation Project Enters Army Headquarters with Awareness Program in Sri Lanka.
The Energy and Power Ministry's timely national project to create awareness for economical use of energy for the best interests of the Nation saw its entry into the State's largest employment provider, Sri Lanka Army, on Monday (25) with an elaborate program at the Defense Services College (DSC) auditorium, Colombo 2. Just a few days earlier, the Ministry of Power and Energy launched the island-wide project, themed on 'Awareness Programme for Energy Conservation' from the Independence Square with an inaugural Marathon Race, in which HE the President, Minister of Power and Energy and the Commander of the Army also participated.
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 from 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), in Sri Lanka (patent Nu. 15641) and additional patents around the world 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.
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SOURCE Blackbird International Corporation