Deals
SDE in Talks to Sell Half of Wave Unit to China, Israeli Firms
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SDE Energy Ltd., a Tel Aviv-based maker of technology that uses the power of the waves to generate electricity, is talking about selling half of its business to a Chinese car maker and an Israeli medical company.
SDE expects to conclude talks with the two “major” companies in about two months, said Shmuel Ovadia, its chief executive officer and owner. The Chinese car manufacturer wants to use SDE’s technology to power its factory and the medical company has “excess money” and wants to invest in clean energy, he said without naming the companies.