REH.L Regulatory News (REH)

21 Dec 2006 07:01

Renewable Energy Holdings plc21 December 2006 21 December 2006 Renewable Energy Holdings plc ("REH" or "the Company") CETO Technical Report The board of directors ("Board") of REH is pleased to announce that it hasreceived a final version of an independent technical report on the CETO wavepower device technology ("Report") prepared by PB Power, part of ParsonsBrinckerhoff, an independent consultancy firm company specialising in the globalpower industry. The Report was commissioned by REH in order to provide an independent, expert,third party validation of the CETO wave power device technology and the Board ispleased to announce that the findings of PB Power's report are favourable. Key factors confirmed by the report are the estimated capital expenditure perMW, which positions CETO close to wind turbines, but with more than twice theoperating load factor, and the estimated operating expenditure per Kwh whichenables CETO to be economically competitive with fossil fuel-based generation. The report will be available for download from REH's website at www.reh-plc.comin the New Year. Commenting on the findings of the PB Power report, Mike Proffitt, ChiefExecutive of REH, commented: "The findings of the PB Power report give theBoard great satisfaction that the development expenses incurred to date indeveloping the CETO technology have been well invested. PB Power validated notonly our technology but also our commercial assumptions. The Board is now fullyconfident to move forward to the commercialisation of the CETO wave power unitand will be seeking an appropriate partner to assist the Company with this." Renewable Energy Holdings plcMike Proffitt, Chief Executive OfficerTel: 01624 641199 Nabarro Wells & Co. LimitedRichard SwindellsTel: 020 7710 7400 Parkgreen CommunicationsPaul McManusTel: 020 7786 9600 This information is provided by RNS The company news service from the London Stock Exchange