Israeli company WERPO, a developer of renewable sea wave energy technology, has signed an agreement with Beijing Capital Group (BCG) to exclusively represent it in China. WERPO believes that this agreement has vast potential in promoting its sea wave energy systems across China and beyond.
With global warming still a major threat, there is a greater emphasis placed on profitable and durable renewable energy systems. Sea wave energy is the only solution left for China. Solar energy has been proven to be not economical there and wind energy is not a possibility as harsh weather conditions would damage the wind turbines severely. These same harsh weather conditions only benefit production of energy from sea waves, as higher waves store more energy, and WERPO’s system is equipped to handle such extremes.
In the cooperation between WERPO and BCG, both parties hope to aid in implementing sea-wave energy in China, assisting with its energy needs as well as creating jobs and making China a leader in the renewable energy sector. BCG will represent WERPO exclusively in China.
Shmuel Ovadia, director at WERPO and inventor of its proprietary sea wave energy technology, stated that, “China is one of WERPO’s strategic locations, both due to the region’s vast expanse of oceans with the potential to supply enough energy for all of China and the surrounding countries, and due to growing environmental awareness in China.”
According to Mr. Ovadia the cooperation with BCG, “is a major milestone for implementation of WERPO’s sustainable energy solutions.”
Beijing Capital Group is a large scale enterprise under the State Owned Assets Supervision and Administrative Commission (SASAC) of the Beijing Municipal Government. Since its 1995 asset reorganization, Beijing Capital Group has established three core businesses: (i) financial services and investments, (ii) urban infrastructure development, particularly with respect to water treatment, environmental infrastructure and highway construction, and (iii) real estate.
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 in China. The company boasts that its unique technology is based on the utilization of sea waves’ rise and fall to yield hydraulic pressure that produces electricity, and that it exploits the full potential of wave speed, height, depth and currents beneath the surface of the water.
WERPO holds a patent in China (patent nu. ZL 200980000308.3), and continues the work on finalizing the pilot plant with its local partners.