REH.L Regulatory News (REH)

3 Mar 2008 07:00

Renewable Energy Holdings plc03 March 2008 Date: 3 March 2008On behalf of: Renewable Energy Holdings plc ("REH" or "the Company")Embargoed until: 0700hrs Renewable Energy Holdings plc • Second CETO II Wave Energy Unit deployed • Sites under review in EDF EN collaboration Renewable Energy Holdings plc (AIM: REH), the AIM quoted investor and operatorof proven and innovative renewable energy technologies, is pleased to announcethe successful deployment of the second CETO II Wave Energy prototype off theCETO test site at Fremantle in Western Australia. This follows the deployment of the first CETO II prototype unit in January 2008and both units are performing as expected in the existing wave conditions. Thethird unit will be deployed during the next week, which will complete this stageof the test project. The performance monitoring and design development isscheduled to be completed by mid-April 2008, in advance of the deployment of afull-scale CETO III unit test, which will complete the CETO developmentprogramme by 2009. Following the agreement of the terms of a collaboration agreement with EDFEnergies Nouvelles SA ("EDF EN"), announced in January 2008, the two companiesare actively reviewing sites and planning for the roll-out of offshore wavepower projects in the Northern Hemisphere, commencing 2009. Mike Proffitt, CEO of REH commented: "Since the collaboration with EDF EN became effective in January we have beenworking closely to identify and evaluate sites for CETO projects in the NorthernHemisphere. To date we have found three potential sites that meet our criteriafor site suitability, as well as being subject to a preferential remunerativeregime, and we are investigating these opportunities further. "The CETO II test project is progressing on target and continues to meet ourperformance expectations, which increases our confidence that CETO will be readyfor commercial roll-out in 2009." For further information please contact: Mike Proffitt, Chief Executive Renewable Energy Holdings plc Tel: 01624 641199 Richard Swindells Nabarro Wells - Nominated Adviser to REH Tel: 020 7710 7400 Katherine Roe Panmure Gordon - Broker to REH Tel: 020 7459 3600 Emma Kane / Samantha Robbins / Paul Dulieu Redleaf Communications Tel: 020 7822 0200 Notes to Editors About Renewable Energy Holdings Renewable Energy Holdings is an international company established to be anoperator of, and undertake active investment in, both proven and innovativerenewable 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 development of further wind farmsites in Poland and Wales. REH owns a 1MW methane Landfill Gas Project in Powys, Wales. CETO is REH's innovative wave power technology. It is the first wave powerconverter to sit on the seabed, where it is invisible, safe from storms andocean forces, and self contained. Unlike other wave energy technologies thatrequire undersea grids and costly marine qualified plant, CETO requires only asmall diameter pipe to carry high pressure seawater ashore to either a turbineto produce electricity, or to a reverse osmosis filter to produce fresh water. The Directors and executive team of REH have extensive experience in both theconventional and renewable energy sectors, both in the UK and overseas, andthrough 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 2004 and listed onthe London Stock Exchange's AIM Market in February 2005. Further information can be found at www.reh-plc.com About Wave Energy & CETO Named after the Greek ocean goddess, the CETO technology distinguishes itselffrom other wave energy devices by resting out of sight on the ocean floor. Anarray of submerged buoys is tethered to seabed pump units. The buoys move inharmony with the motion of the passing waves, driving the pumps which in turnpressurises seawater and delivers it ashore via a pipeline. The high-pressureseawater can be used to supply a reverse osmosis desalination plant, replacinggreenhouse gas emitting pumps usually required for such plants. The highpressure seawater can also be used to drive hydro turbines, generatingzero-emission electricity. Other wave energy and CETO characteristics • Wave energy is a renewable, zero-emission source of power • 60% of the world lives within 60km of a coast, removing transmission issues • As water is about 800 times denser than air, the energy density of waves exceeds that of wind many times over dramatically increasing the amount of energy available for harvesting • Waves are predictable days in advance making it easy to match supply and demand • CETO sits under water, moored to the sea floor, meaning there is no aesthetic impact • CETO units operate in deep water, away from breaking waves. The waves regenerate, once they pass the CETO units, meaning there is no impact on popular surfing sites • CETO units are designed to operate in harmony with the waves rather than attempting to resist them. This means there is no need for massive steel and concrete structures • CETO is the only wave energy technology that produces fresh water directly from seawater • Any combination of power and water can be achieved from 100% power through to 100% water • CETO contains no oils, lubricants, or offshore electrical components. CETO is built from components with a known subsea life of over 30 years • CETO units act like artificial reefs in the way they attract marine life. This information is provided by RNS The company news service from the London Stock Exchange