Welcome!

News Feed Item

Blackbird International Corporation Announces Final Step In The Acquisition Of World Leader in Sea Wave Energy Technology

OAKVILLE, ON -- (Marketwired) -- 06/25/14 -- Blackbird International Corporation (PINKSHEETS: BBRD) is pleased to announce that it is in the final stages of the acquisition of SDE Ltd. It had previously released news that it had exchanged a Letter of Intent with SDE Ltd for purposes of a merger. Blackbird shall acquire 100% of the shares of the target company in exchange for restricted stock.

"We are delighted to announce that following the recent exchange of a mutually acceptable Letter of Intent to acquire the outstanding shares of SDE Ltd, all necessary due diligence has been successfully completed by both Parties," states John Pedder, president. "The last remaining procedural item is the signing of a definitive agreement and share exchange. This is the final stage of the negotiations and both companies are committed and on track to close the transaction by the beginning of July. There will be no change in the current authorized and issued capital of the company as we had adjusted our equity base earlier in the year in order to elicit merger options. As stated previously, this new opportunity represents a complete change of direction for the company and the chance to create long lasting shareholder value. We are very excited by the growth prospect provided by SDE Ltd world leading technology. The shareholders will be kept informed of developments."

Mr. Shmuel Ovadia, CEO, S.D.E. Ltd, added, "We are 100% committed to this merger and it fits perfectly into our strategic plans providing the type of dynamic opportunity for growth that only equity and capital markets can provide. Our technology is world leading and timely. We will provide more comprehensive updates to existing and potential shareholders following the merger transaction."

About SDE Ltd.

S.D.E.'s technology 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%). One added benefit of the technology, says the company, is that it bears low production costs of 2 cents per kilowatt-hour only, though governments are willing to pay between 8 and 44 cents per kWh for use of the system.

SDE was selected by a team of international scientists as number one in the world in Sea Wave Energy Technologies, numbers six in Tidal Energy and River Energy, and was ranked as one of the Top 100 Clean Energy Technologies. SDE had been invited to Ecuador by the minister of renewable energy and electricity to come and introduce its unique technology. Ecuador has special interest in building Sea Wave power plants in different protected fragile sites around the Galapagos Island such as Isla Santa Cruz, Isla Isabela, Isla San Cristobal, Isla Baltra and Isla Floreana.

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 project in China.

http://www.greentechmedia.com/industry/read/sde-energy-ltd-named-world-leader-in-sea-wave-energy-technolo-58957

About Blackbird International Corporation

Blackbird International Corporation (www.blackbirdinternationalcorporation.com ) is the sole shareholder of Insight Group Technologies Inc which is an industry leader in the design and delivery of supply chain planning, optimization and execution systems. Insight has the unique ability to incorporate the strategic development, deployment and execution of software for the Supply Chain industry.

Forward-Looking Statements
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.

Contact:
John Pedder
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...