31st Mar 2005 16:16
Renewable Energy Holdings plc31 March 2005 31 March 2005 Renewable Energy Holdings plc INTERIM TRADING UPDATE Renewable Energy Holdings plc ('REH'), the AIM listed investor in proven andinnovative renewable energy technologies, announces the following trading updatewhich outlines the progress made since its flotation on AIM on 11 February 2005: CETO Device launch On 21 March REH successfully launched its CETO Device, a unique wave energyextraction device. The unit is now being ballasted and prepared for subseadeployment and it is anticipated within the next two and a half months thedevice will be towed to deeper water, sunk into position on the sea bed, and besubject to further testing. The CETO Device has been designed to efficiently capture energy from the fullwater column generated by the passing of a wave and transmit such energy by wayof pumping high pressure seawater to shore using proprietary seawater pumpswhere electricity, using existing technology, is produced. The CETO Device ison time and in accordance with the dates set out in the Company's AIM AdmissionDocument. Investments REH stated in its Admission Document that it would invest in proven renewableenergy technology and operations, and anticipated that first investments wouldbe in wind projects. REH is now in advanced discussions regarding investment ina wind farm project in Ireland with an output of 13.5MW. In further development of our renewable energy activities, REH is in advanceddiscussions to invest in a landfill gas project and a biogas project, both ofwhich are currently operational. The landfill gas plant currently produces anoutput of 1MW which, with investment, has a potential output of 4MW. The Biogasplant currently produces an output of 2MW, with the potential to grow to 6MW. These investments will be made from existing funds and it is expected that REHwill be able to give investors further details at the end of May. Outlook and Prospects REH's objective, which it believes is realistically attainable, is to ownrenewable energy assets with a combined output of 100MW, subject to progressingsuitable financing, by the end of 2005 Renewable Energy Holdings 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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