26th Jul 2005 10:12
Renewable Energy Holdings plc26 July 2005 26 July 2005 Renewable Energy Holdings plc CETO wave energy technology device update successful test results Renewable Energy Holdings plc ("REH"), the AIM quoted investor in, and operatorof, existing and innovative renewable energy production, is pleased to announcethat its CETO Device prototype, which is designed to capture wave energy,convert such energy into high pressure seawater leading to onshore generation ofelectricity from existing technology, has in initial operational testingsuccessfully transmitted high pressure seawater to shore at in excess of 500psi. This pressure is within the design parameters required to generateelectricity on-shore using conventional hydro electric power turbines. Although testing will be ongoing, the Directors now consider the underlyingprinciples of the technology as proven and are considering how best to take theprocess of design for commercialisation and production engineering forward. REHwill also now be actively looking for a first commercial development siteoffshore in the UK or Ireland. As previously announced the CETO Device, details of which were contained in theAdmission document dated 4 February 2005, has been undergoing sea trials sinceMarch 2005 in preparation for operational testing. The CETO Device is installed on the sea bed below the level of turbulence and isdesigned to efficiently capture energy from the full water column generated bythe passing of a wave. This energy is then transmitted to shore as high pressureseawater, using proprietary seawater pumps. Electricity will be generated onland using existing proven technology, with the sea water returned to the ocean. REH floated on AIM on 11 February 2005 raising £10.0m (before expenses) by wayof a placing with institutional and other investors Renewable Energy Holdings plc Binns & Co PR Ltd Corporate Synergy PlcMike Proffitt, Chief Executive Paul McManus John Prior Tel: 020 7153 1485Tel: 01624 64 11 99 Mob: 07980 541 893 Tel: 020 7626 2244 . This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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