REH.L Regulatory News (REH)

29 Oct 2007 07:01

Renewable Energy Holdings plc29 October 2007 29 October 2007 Renewable Energy Holdings plc ("REH" or "the Company") Renewable Energy Holdings plc (AIM: REH), the AIM quoted investor and operatorof proven and innovative renewable energy technologies, is pleased to announcethat on 26 October 2007, the Prime Minister of Australia awarded a A$5.0 millionRenewable Energy Development Initiative grant to Carnegie Corporation Limited ("Carnegie") of Perth, Australia, so that it can further develop the CETO wavetechnology to its planned commercial demonstration phase. This follows REH's announcement on 10 August 2007 that it had entered in to anexclusive collaboration agreement with Carnegie, an Australian Stock Exchange(ASX) listed clean energy technology developer, for the commercial roll-out ofCETO in the Southern Hemisphere. The directors of REH believe that this grantby the Australian Government to Carnegie is a further endorsement of the CETOwave power technology and that it leaves Carnegie well positioned to deliver onits commitments under its collaboration agreement with REH. Mike Proffitt, Chief Executive Officer of REH, commented: "We are very pleased with what we believe is a further significant endorsementof REH's CETO wave power technology. With its collaboration agreements to rollout the CETO technology in both the Northern and Southern Hemispheres, webelieve that REH is now well placed to complete the commercial development ofthe CETO technology ready for commercial-scale deployment scheduled to begin in2009". For further information please contact: Mike Proffitt, Chief ExecutiveRenewable Energy Holdings plc Tel: 01624 641199 Richard SwindellsNabarro Wells - Nominated Adviser to REH Tel: 020 7710 7400 Katherine Roe / Ashton ClanfieldPanmure Gordon - Broker to REH Tel: 020 7459 3600 Emma Kane / Samantha Robbins / Paul DulieuRedleaf Communications Tel: 020 7822 0200 Set out below is the full text of an announcement released by Carnegie Corporation Limited on 26 October 2007 (all $ references are to Australian Dollars): "Prime Minister Pledges $5M Renewable Energy Development Grant to Carnegie Australian clean energy technology developer, Carnegie Corporation Ltd (ASX:CNM) is pleased to announce that Prime Minister John Howard has today pledged a$5 million Renewable Energy Development Initiative grant to Carnegie for thefinal development phase of the unique CETO wave energy technology. The Prime Minister announced the $5 million Carnegie grant in addition to a new$75 million competitive grants program for emerging renewable energytechnologies at a press conference held at the CETO research & developmentfacility in Fremantle, Western Australia. "Wave energy, such as that being developed by Carnegie Corporation in Perth, isa leading innovative renewable energy technology. It is also exciting because ithas great potential for emissions-free desalination," Mr Howard said. Carnegie Chairman and CETO inventor Alan Burns said: "We are delighted to seerecognition of the potential of wave energy to contribute significantly toAustralia's future energy requirements and of Carnegie's role in delivering waveenergy through its unique CETO technology. "Today's grant will contribute to the completion of the final aspects of CETO'sdevelopment ahead of our first commercial-scale project. We expect to announcethe location of the first commercial-scale CETO facility before the end of 2007. "Recent results from in-sea CETO trials have confirmed its effectiveness anddesign and have cleared the way for deployment of the first commercial designunits off the coast of Fremantle. "We're on track for an array of commercial-design CETO units to be operating bythe end of 2008 in addition to deeper water, full-scale CETO III tests," Mr Burns said." Websites www.reh-plc.com www.ceto.com.au Notes to Editors About Renewable Energy Holdings • Renewable Energy Holdings is an international company established tobe an operator of, and undertake active investment in, both proven andinnovative renewable energy technologies. • REH owns two operational wind farm sites is Germany. Kesfeld(32.5MW) and Kirf (8MW). In addition, REH is at various stages of developmentof further wind farm sites in Poland and Wales. • REH owns a 1MW methane Landfill Gas Project in Powys, Wales. Thelong-term objective for this project is to increase production to 5-6MW. • CETO is REH's innovative wave power technology. It is the firstwave power converter to sit on the seabed, where it is invisible, safe fromstorms and ocean forces, and self contained. Unlike other wave energytechnologies that require undersea grids and costly marine qualified plant, CETOrequires only a small diameter pipe to carry high pressure seawater ashore toeither a turbine to produce electricity, or to a reverse osmosis filter toproduce fresh water. • The Directors and executive team of REH have extensive experience inboth the conventional and renewable energy sectors, both in the UK and overseas,and through their experience have built a broad international network ofrelationships with individuals, companies, governments and lobby groups. • The Company was incorporated in the Isle of Man on 8 October 2004and listed on the London Stock Exchange's AIM Market in February 2005. • Further information can be found at www.reh-plc.com This information is provided by RNS The company news service from the London Stock Exchange