The owners of Shahar Energy, an Israel-based renewable energy company, have established Yam Pro Energy to drive forward the technology and wave energy projects recently acquired from the wave energy developer WERPO.
Yam Pro Energy, owned by Zeev Peretz and Laser Rothstein, will together with the engineering team work to complete the development of the wave energy system in order to carry out industrialization and commercialization activities throughout the world in the coming year, the company informed.
The systems will be set up in collaboration with the MER Group, an Israeli infrastructure engineering company, which will also be the contractor in some countries.
Following the initiative of the Government of Sri Lanka, the management met this week with Sri Lanka’s ambassador to Israel, in order to establish an initial 10MW wave energy system in that country, in collaboration with the local power company.
The company is in advanced talks with major investment funds in Asia and the United States to promote wave energy projects, according to WERPO.
The management also met with IEC, Energy Electricity Authority and the Ministry of Infrastructure in Israel, who showed great interest in technology and supported the development of clean energy.
As reported earlier, WERPO, owned by Blackbird International Corporation (BBRD), sold its building, patent, and intellectual property (IP) rights to Shahar Energy in exchange for a 20% share in profits from the yet to be constructed projects.