OAKVILLE, ON, CANADA / ACCESSWIRE / October 2, 2014 / Blackbird International Corporation (OTC Pink: BBRD) (BBRD), is pleased to announce that it has finalized the acquisition of Wave Electricity Renewable Power Ocean (WERPO) and that the effective date has been reached.
The Parties to the acquisition process officially announce that the effective date has been attained and that the acquisition is complete.
The process was completed to the satisfaction of both Parties and they anticipate a smooth transition of operations. From an administrative perspective there remains a few minor details to be finalized and appointments to be registered but these are not deemed material and will not interfere with the ongoing business.
John Pedder, president adds ’"I shall remain on the board as long as I am required in this exciting new business direction and will assist in ensuring a seamless handover to the appointed new executive team. My Israeli counterparts have demonstrated an excellent understanding of the opportunities that the Blackbird represents and we are confident that the Company shall prosper under the new team’s guidance and strategic direction."
The next news release will provide information on the current sea wave projects.
About Wave Electricity Renewable Power Ocean (WERPO)
The technology developed by its affiliate, SDE Ltd, is based on the utilization of sea waves to yield hydraulic pressure that produces electricity while exploiting the full potential of wave speed, height, depth, rise and fall, and currents beneath the surface of the water. Scientists from around the world claim that using 1% of wave energy can provide the equivalent electricity of 500 times the world energy consumption. Energy density in waves is high compared with other renewable energy sources such as wind power and solar power. Over a year, the energy output is approximately 3 times that of solar or wind technology.
Results and experimental fieldwork conducted in Israel and abroad indicate that the energy production from sea waves by SDE’s technology cost of 2-6 cents for 1KW, a significantly lower cost compared to other renewable energy technologies (for example, wind energy – 12 cents, Solar Energy 16 cents).
In addition, SDE’s technology allows an annual output of 65% - significantly higher yield compared to other renewable energies (wind energy - an annual output of 24%, solar energy an annual output of 22%).
SDE was selected by a team of independent scientists as number one in the world its field of Sea Wave Energy Technologies, and was ranked as one of the Top 100 Clean Energy Technologies.
The Israeli company with its proven track record of installations across the globe has several projects around the world with government entities as well as with the private sector. SDE has established 11 joint ventures with local partners in 9 different countries including a second pilot project in China.
About Blackbird International Corporation
Blackbird International Corporation (www.blackbirdinternationalcorporation.com)
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.
SOURCE: Blackbird International Corporation