TEL-AVIV, Israel, March 16, 2015 /PRNewswire/ --
Blackbird International Corporation (OTCBB: BBRD), a global
leader in renewable sea wave energy technology, is pleased to
announce that it has received a line of credit from The Mercantile
Discount Bank in Israel in order
to cover the financial needs of WERPO for 2-3 years.
Mr. Shmuel Ovadia, Director and
inventor of BBRD's technology stated, "This injection of funds into
the company will allow us to fulfill all presently ongoing, pending
and future contracts without the need to dilute the company,
thereby ensuring the continued confidence of our shareholders. The
Mercantile Bank's support in our company is further testament to
our unique and patented sea wave power generation technology and
its worldwide demand."
About Mercantile Discount Bank Ltd.:
The Mercantile Discount Bank was established in 1971 by the
Barclays Bank and The Israel Discount Bank. At the time of its
incorporation, The Bank took over the assets and liabilities of
Barclays Bank in Israel. In 1993,
The Israel Discount Bank acquired the entire holdings of Barclays
and changed its name to Mercantile Discount Bank. The Bank offers a
comprehensive range of financial products to meet the needs of its
diverse group of corporate and retail clients, offering a complete
spectrum of financial services.
About Blackbird International Corporation:
Blackbird International Corporation (http://www.werpo.us ) is
the sole shareholder of Wave Electricity Renewal Power Ocean Ltd
(WERPO).
About WERPO sea wave energy technology (BBRD):
WERPO, having received the rights for all of SDE Ltd.'s
technology, property, know-how, IP (patents, et. al.), contracts
and subsidiaries, is able to promote its sea wave energy solution
around the world.
WERPO's unique technology is based on the utilization of sea
waves' rise and fall to yield hydraulic pressure that produces
electricity, while exploiting the full potential of wave speed,
height, depth and currents beneath the surface of the water. This
technology was chosen as number one in its field by an independent
team of scientists from PesWiki and also as one of the top 100
renewable energies.
The Israeli company with its proven technology has several
projects around the world with government entities as well as with
the private sector. It has established 11 joint ventures with local
partners in 9 different countries including a second project in
China.
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.
For further information please contact:
Maximum Performance Advisors, Inc.
+1-858-381-4677
shareholders@werpo.us
SOURCE Blackbird International Corporation