SDE WAVE ENERGY (SDE) — Mr. Shmuel Ovadia
An online search on Israeli S.D.E (SDE WAVE ENERGY) Company reveals that the company publishes dishonest and misleading information and that its CEO, Shmuel Ovadia, even spent time in jail.
Apparently, the CEO of S.D.E, Mr. Shmuel Ovadia and his brother were previously arrested and incarcerated for their misconduct. Eliyahu Ovadia (Elli) – was arrested a number of times for money laundering and for managing an illegal casino.
Articles about Mr. Ovadia's criminal activities are available via the following links:
http://www.ynet.co.il/articles/0, 7340, L-2890511, 00.html
Shmuel Ovadia himself, has spent time in jail around the year of 1995 (as can be seen in the Israeli courts online Data Base, ): http://www.takdin.co.il/searchg/%D7%91%D7%92%20%D7%A6%204646%2094%20%D7%A9%D7%9E%D7%95%D7%90%D7%9C%20%D7%A2%D7%95%D7%91%D7%93%D7%99%D7%94%20%D7%A0%20%D7%A9%D7%99%D7%A8%D7%95%D7%AA%20%D7%91%D7%AA%D7%99%20%D7%94%D7%A1%D7%95%D7%94%D7%A8%20%D7%95%209%20_hd_1948427.html
As for S.D.E Company:
SDE Wave Power Company is misleading its potential clients by issuing false information.
1. As opposed to the publication on S.D.E's web-site (http://www.sde-energy.com/) according to which "The technology has been reviewed, approved and funded by the Chief Scientist of the Israeli government (certificate No. 23425) with private and government funding of about $5 Mil" (http://www.sde.co.il/index.php?option=com_content&view=article&id=128&Itemid=122)...
Online information reveals that Mr. Shmuel Ovadia submitted a funding request to the Chief Scientist in 2010, and that the Chief Scientist DID NOT agree to invest at all in S.D.E's technology.
2. In addition, an online data base from a court in 2012 (with S.D.E's participation) reveals the following information about S.D.E Energy and Desalination Company (free-translation), (http://www.psika.net/106392-9516.html):
Clause 25: as to S.D.E's claim with regard to money invested in its technology, it is important to note that in SDE's financial reports, it is possible to see that from 2001 to the end of 2010 there was no investment in the company, which is contrary to the testimony of Mr. Ovadia, according to which in the years of [protected] "huge amounts of money, millions, were invested in the company"…As to the Chief Scientist, it is important to note that the last investment from him was made in 2001. Mr. Ovadia confirmed this information. We will also note that S.D.E applied again for support by the Chief Scientist in 2010, and that he refused to invest in S.D.E Company. These claims contradict the claims of S.D.E according to which it invested a lot of money in the technology.
Clause 28: ….S.D.E's Israeli patent expired in 1.5.11, because SDE did not pay the toll fee. In this period, the details about the invention were published in the public domain, and S.D.E did not do anything to renew it….
3. 4. S.D.E publishes on its web-site that: "S.D.E's unique technology for generating electricity from sea waves is protected by registered patents in Israel and worldwide. Holds U.S. Patent No. 5, 461, 862, International PCT, as well as other international and pending patents (http://www.sde.co.il/index.php?option=com_content&view=article&id=128&Itemid=122). However, an online research shows that such patent expired in the 52nd week of 2003, see www.uspto.gov/web/offices/com/sol/og/2003/week52/patexpi.htm
4. S.D.E also publishes dishonest information about support that they supposedly received from the World Bank: http://www.prnewswire.com/news-releases/sdes-sea-wave-power-plant-technology-checked-and-approved-by-the-world-bank-118500934.html. However, it is important to note that the World Bank NEVER APPROVED NOR CHECKED S.D.E's technology. Below, you can find their request to remove S.D.E's false publication ("MIGA notes that both of the statements made are false. MIGA has neither checked nor approved this technology, nor has MIGA approved any project or issued any guarantees for the investor. MIGA has requested that S.D.E Sea Wave issue a correction that retracts these inaccuracies"), http://www.miga.org/news/index.cfm?aid=2962. Nevertheless, S.D.E continues to this day to publish such false news.
5. Moreover, in a court about clause 2 (June 2012), Mr. Ovadia gave the following testimony: "I do not have a working power station anywhere in the world" . This is in stark contrast to the widespread press releases by Mr. Shmuel Ovadia himself and S.D.E Company, in which they claim to close deals for hundreds of megawatts all over the world. For example:
- misleading claims about Africa: http://www.oceanenergycouncil.com/index.php/Wave-Energy-News/Israel-s-SDE-plans-100MW-of-wave-energy-for-Africa.html;
- misleading press release about China: http://www.renewbl.com/2010/04/19/sde-to-complete-first-sea-wave-power-plant-in-china.html;
- misleading press release about Sri-Lanka: http://www.sundaytimes.lk/080323/FinancialTimes/ft303.html
How can SDE build 100MW, when they don’t even have one working power plant in 2012, after 17 years of operation? Also, if they have orders for hundreds of megawatts, how come the company does not show any investments whatsoever since early 2000?
6. In 2006, S.D.E published all over the media that they are going public http://www.globes.co.il/serveen/globes/docview.asp?did=1000336140 . This of course never happened...
7. In August 2001, Shmuel Ovadia, on behalf of SDE company published that S.D.E had finalized a $USD70 Million deal in south America (http://lib.cet.ac.il/pages/item.asp?item=3647) . Where is the station? Where are the revenues from such station?
8. In 2005, SDE published that had finalized a$ USD30 Million deal with a Chinese electric company (http://www.ynet.co.il/articles/1, 7340, L-3186102, 00.html) Where is the station? Where are the revenues from such station?
Please be extremely careful from engaging with this company...