Tokyo,
Blue Wave Energy announced yesterday it has entered into definitive agreements with private equity investors to sell 25 million shares of its common stock in a pre IPO equity financing prior to a listing on Nasdaq scheduled for early 2010. The financing is a three tier plan, which will be led by LA Private Equity, effective from October 15th 2009.
Proceeds from the financing will be used primarily for the development and deployment of second generation tidal turbines, - Transverse Horizontal Axis Water Turbine technology, commonly know as the “lawnmower”
Blue Wave Energy is a Tokyo based marine energy company with operations in Japan, Hawaii and Canada . The company supplies renewable clean energy from both tides and waves.
For additional information, please contact
Blue Wave Energy Ltd,
Michael Takashi
Investor Relations
+81 3 45209737
Or
LA Private Equity
Helen Thomas
Investment Executive
+852 580 80130
