Blackbird International Corporation announced that it has officially entered into an agreement with Help Mankind for a twofold joint venture. The first is the implementation of a manufacturing plant for the production of the equipment used by WERPO its patented wave energy device that generates electricity through the movement of the ocean/sea. Secondly, WERPO shall construct the first of a series of wave energy electrical power plants in Sri Lanka.
Shmuel Ovadia, the inventor of WERPO’s technology states, “We are most pleased with the results of our introduction to Sri Lanka. Not only will a power station be built but we shall benefit from advantages of establishing a manufacturing plant here such as a cost efficient labor force and local government support.”
WERPO has entered into this Agreement as a partner with the Sri Lankan company, Help Mankind. A Joint Venture corporation shall now be formed with WERPO holding 51% of the shares. WERPO shall be responsible for technical matters and the construction of the project while its partner shall obtain the required financing.
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.