Blackbird International Corporation (BBRD), a sole shareholder of the Israeli wave energy player WERPO, has announced that it will pay a dividend to the shareholders on December 31, 2015.
Schmuel Ovadia , WERPO’s Director and Inventor of its technology, said: “We believe the common shares of BBRD are very valuable and this program will not only strengthen the company’s capital structure, but ultimately increase the value of the shares to our loyal shareholders.
“This program demonstrates our commitment to building long-term shareholder value and further shows our confidence in our growth potential. Given the strong demand for WERPO’s technology and the expansion of our brand, we see tremendous opportunities ahead.”
WERPO has developed 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.
The company has announced various wave energy projects across the world, with the most recent one focused on South Africa .
Image: WERPO