Seakinetics Corporation

Seakinetics Corporation

March 31, 2009 13:50 ET

Seakinetics Eyes Substantial Upside in Marine Energy Sector: Agrees to Participate in the Development of Wave Energy Turbine

FRANKFURT, GERMANY--(Marketwire - March 31, 2009) - Seakinetics Corp (FRANKFURT:SKTS), an emerging growth company in renewable energy technologies, reports that in conjunction with its joint venture partner, RE-Tech Project Finance, the Company plans to launch a significant initiative this Spring to provide financial and technical support for the development of a proprietary wave energy turbine currently in the final design stages in Israel.

Says Jack Dhaliwal, Seakinetics' Chief Technology Officer, "The Israeli invention is by far totally unique in the industry. If successful, I firmly believe that by reducing the conventional costs of generating power through marine energy, it will allow wave energy farms to rival wind or solar. Ocean energy power is where wind power was a half a century ago. With tens of thousands of kilometers of potential wave power now available from the world's ocean surfaces, I am confident that by deploying leading edge technologies on wave farms around the world, the benefits to both the investor and consumer will be very gratifying".

Adds Mr. Dhaliwal,' Wave energy will be big business over the short to medium term. Our research is telling us that ocean energy can supply at least 10% of the world's electricity needs. And for Seakinetics, that truly represents an opportunity of unusual scope and dimension."

Seakinetics Corp. ( is a public Corporation established in 2008 for the purpose of designing, developing, and marketing ground breaking technologies in the renewable energy field. Shares of Sea kinetics Corp are traded on the Open Market Segment of the Frankfurt Exchange. A public offering of Sea kinetics shares was not made in connection with their inclusion on the Open Market Frankfurt.

RE-TECH Project Finance is a privately held developer and financier of new processes and methodologies used to harness power in the most cost effective and efficient way possible.

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This press release contains "FORWARD-LOOKING STATEMENTS" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release are forward-looking statements based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward looking statements.

Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to the actual results or changes in the company's expectations.

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