Blackbird International Corporation (OTC PINK: BBRD), a global leader in renewable sea wave energy technology is pleased to announce that its fully owned subsidiary, Wave Electricity Renewable Power Ocean WERPO, has entered into a new agreement by which it is giving its building, patent rights and IP rights in exchange for a share in profits from projects Shahar will build on its own expense, BBRD will focus as well on new patents.
Shahar Energy is a renewable energy company that focuses largely on grid tied photovoltaic systems. WERPO has signed a deal with them that will allow Shahar Energy to fully pay for all the costs in building power stations around the world and raise the funding required for these large undertakings.
Shahar agreed to return 20% of the profits to Blackbird International. Initially with this new agreement a 5 MW power station will be built and following the construction and the success of the 5 MW power station a 10 MW station will be built. The 5 MW station that is expected to generate $3,486,840 in revenue with a gross annual profit of $2,963,814 of which 20% shall be paid to Blackbird International generating $592,762 annual revenues for the company. The 10 MW plant shall generate double the revenue.
Blackbird forecasts that Shahar will be able to build power stations that will generate revenues of $2 Billion USD over the next decade and which will provide Blackbird with $80 million in revenue.
Shmuel Ovadia, director at Blackbird and inventor of its proprietary sea wave energy technology, stated "We are very excited to bring the company to the next level that will generate great profits for our shareholders and start focusing on new patents as well in other areas for Blackbird."
"We are going to focus on technology that focuses on the friction of ships in the sea that can save 30% of the electric usage of these ships. We also are working on another patent that would create electric hydraulic and solar powered vehicles utilizing the friction of tires to create a car that will operate 90% on green energy and 10% on fuel. We are actively seeking investors who would invest in these patents."
