WERPO, an Israeli wave energy developer, has teamed up with Sunbelt Israel, a capital investment group, to raise funds for the delivery of WERPO’s announced wave energy projects.
According to WERPO, the companies will start an aggressive campaign to raise funds so that WERPO can start building all the power stations that were ordered.
Sunbelt Israel will work in collaboration with Sunbelt International Network to locate strategic partners, investors and international clients.
Shmuel Ovadia, Director and Inventor of WERPO’s technology, said: “This is a very exciting announcement as Blackbird/WERPO has many contracts in back orders and this partnership is the next step in propelling the company as a leader in the alternative energy market.”
Joseph Alon, Exclusive Representative of Sunbelt International Networks in Israel, added: “We will start with a fundraising campaign for the purpose of building commercial power stations energized by ocean wave power. We plan to introduce world specialists to join Blackbird’s managing board as well as other steps we will announce in the future.”
In addition to that, the company is in co-operation talks with an unnamed Chinese electrical supplier for the construction of ocean energy project, as well as being in negotiations with Grenada and the Caribbean region for the deployment of its wave energy technology.
WERPO has developed wave energy technology based on the utilization of sea waves’ rise and fall to yield hydraulic pressure that produces electricity, exploiting the potential of wave speed, height, depth and currents beneath the surface of the water.