20 Jan 2009 07:00
Date: 20 January 2009
On behalf of: Renewable Energy Holdings plc ("REH" or "the Company")
Embargoed until: 0700hrs
CETO Update: Memorandum of Understanding with
Australian Department of Defence
Renewable Energy Holdings plc (AIM: REH), the investor and operator of proven and innovative renewable energy technologies, is pleased to announce that its CETO development partner, Carnegie Corporation Limited ("Carnegie"), has signed a Memorandum of Understanding ("MoU") with the Australian Government's Department of Defence ("DoD").
The MoU permits Carnegie and the DoD to investigate the feasibility of a wave energy facility at Garden Island, Western Australia, home of the Royal Australian Navy's largest fleet base.
Carnegie believes there is sufficient wave energy potential off the Garden Island coast to develop a CETO wave energy facility to generate electricity and/or desalinated water. The facility would initially be used for testing commercial scale CETO units as part of the commercial demonstration phase of development and could, in the future, provide the DoD's Garden Island naval base with a standalone, sustainable, clean source of electricity and/or fresh water.
Commenting on the agreement, Mike Proffitt, Chief Executive of REH said:
"The Board of REH is delighted with this agreement as it further demonstrates support and confidence in the CETO technology. There is a near infinite energy resource available off the coast of Garden Island and it makes perfect sense to explore its potential to power and supply water to the naval base. CETO's ability to produce electricity and desalinated water is particularly important in areas with limited fresh water supplies, such as Australia."
For further information please contact:
| Mike Proffitt, Chief Executive | |
| Renewable Energy Holdings plc | Tel: 01624 641199 |
| Richard Swindells/ Andrew Craig / Ben Wright | |
| Ambrian Partners - Nominated Adviser & Broker to REH | Tel: 020 7634 4700 |
| Samantha Robbins / Paul Dulieu / Anna Dunkin | reh@redleafpr.com |
| Redleaf Communications | Tel: 020 7566 6700 |
Notes to Editors
About Renewable Energy Holdings plc
Renewable Energy Holdings ("REH") is an international company established to be an investor in and operator of both proven and innovative renewable energy technologies.
REH owns two operational wind farm sites in Germany, Kesfeld (32.5MW) and Kirf (8MW). In addition, REH is at various stages of development of further wind farm sites in Poland and Wales.
REH owns a methane Landfill Gas Project in Powys, Wales which is at an early stage of gas collection, currently producing at 1MW and which is expected to increase as the landfill matures.
CETO is REH's innovative wave power technology. It is the first wave power converter to sit on the seabed, where it is invisible, safe from storms and ocean forces, and self contained. Unlike other wave energy technologies that require undersea grids and costly marine qualified plant, CETO requires only a small diameter pipe to carry high pressure seawater ashore to either a turbine to produce electricity, or to a reverse osmosis filter to produce fresh water. CETO is currently deployed off Fremantle, Western Australia undergoing commercial testing.
The Directors and executive team of REH have extensive experience in both the conventional and renewable energy sectors, both in the UK and overseas, and through their experience have built a broad international network of relationships with individuals, companies, governments and lobby groups.
The Company was incorporated in the Isle of Man on 8 October 2004 and listed on the London Stock Exchange's AIM in February 2005.
Further information can be found at www.reh-plc.com .
About Carnegie Corporation Ltd
Carnegie Corporation Ltd is an ASX-listed (CNM) company focused on developing and commercialising clean energy technologies. Carnegie is currently developing four clean energy technologies: CETO Wave Energy, Cleaner Coal Power, a solar thermal and a wind turbine aerofoil technology. Carnegie is focused on developing and investing in clean energy technologies that will lead to revenue generating projects globally.