S.D.E Signed an Exclusive Representation and Construction Agreement of a 1MW Sea Wave Power Plant With a Large Corporation in Mexico

TEL AVIV, Israel, December 2, 2010 /PRNewswire/ -- S.D.E announced today the beginning of the construction of 1000kW output of the first model (among many others) which will be established in Mexico over the next 6 months.

A 1000kW-output power plant will be established in Cancun, Mexico, and will constitute the first step towards the implementation of the construction program of several other power plants on both Mexico's coasts.

S.D.E's CEO, Mr. Shmuel Ovadia, has received a delegation of representatives of one of Mexico's largest corporations, which has voiced its interest in investment of S.D.E.'s project all across Mexico, with at the head of the delegation Mr. Ricardo Mendez, former Chairman of the Mexican Football Association, so as to organize meetings for collaboration. Mr. Mendez and S.D.E have signed a joint venture to build sea wave power plants all across Mexico, in order to solve the problem of power shortage in the light of increasing demand, exceeding the Central American country's ability to supply.

The government of Mexico, interested in establishing alternative power stations throughout the country, has decided to provide a grant for sea wave power plants on account of its high potential in power production from Mexico's high waves and long beaches.

The U.N's Development Program report (UNDP), released at the beginning of November, declared that the widespread methods of power production cause tremendous large-scale harm to the environment. The report also claims that climate changes caused by customary energy production systems are likely to harm the evolution of the Human Race.

The report also shows that nowadays, China has overtaken the United States in the sense that it has become the n1 energy consumer. As a result, China is also the world's most polluted country.

Mexico requires immediate implementation of S.D.E.'s sea wave technology as a consequence of the country's significant level of environmental pollution.

What can be defined as the United States' biggest environmental disaster was caused as a result of crude oil pumping for energy production. As we all recall, in April this year an oil well burst and poured into the Gulf of Mexico, thus transforming the whole area into a huge patch of oil, which led to a worldwide ecological disaster. The damage caused to the ecosystem was tremendous and irreversible. Experts estimate that it could take decades for the area to recover.

As a result, S.D.E.'s power production technology from sea waves is the perfect solution to power shortage and pollution problems in Mexico. The technology will provide Mexico with a cheap and clean source of energy that will reduce the country's pollution levels without negatively affecting its economic and industrial growth.

Power production technology from sea waves is the world's most innovative and efficient method. Global warming and pollution due to fuel combustion has taught the world that the largest existing source of energy is the sea.

The system is considered to be the most effective in the world, and is offered at very attractive costs. In comparison - the price for construction of a 1MW power plant operated by S.D.E. amounts to $650,000, compared to costs amounting to $1,500,000 for coal, $900,000 for gas, $3,000,000 for solar energy, and $1,500,000 for wind power. Furthermore, S.D.E. offers a rate of 2Cent per kW, compared to 3Cent for coal, 3.5Cent for gas, 12Cent for solar energy, and 3.6Cent for wind power.

It's important to point out that the system developed by S.D.E. has the ability to supply 500 times more power than worldwide consumption altogether. S.D.E. owns a world patent, as well as a number of other patents in registration process. So far today, S.D.E. has built 8 power plant models, which were financed by the Israeli government.

At the moment, S.D.E. has signed Power Purchase Agreements with power authorities of many countries, and is currently in the process of securing other Power Purchase Agreements in various places in the world. The joint venture agreement with Mexico is S.D.E.'s 9th, added to the other 8 joint ventures successfully established in the past, with exclusive rights in all of their countries, which have been progressing at a very quick pace, receiving orders of considerable amounts.

    For further details please contact:

    Mr. Shmuel Ovadia
    CEO
    Phone number: +972(0)3-7397107
    Fax Number:   +972(0)3-6319239
    E-mail Address: [email protected]

SOURCE SDE Ltd