New Engineering Premises in Plymouth

Click on, or paste the following link into your web browser to view the associated PDF document:

http://www.rns-pdf.londonstockexchange.com/rns/7872N_-2014-7-30.pdf

Rame Energy / Index: AIM / Epic: RAME / ISIN: JE00BBD8GG53 / Sector: Energy

31 July 2014

Rame Energy plc ('Rame' or the 'Company')

New Engineering Premises in Plymouth

Rame Energy plc, the international energy consultant, engineer and power generator, is pleased to announce that its wholly owned subsidiary, Rame Marine Services Limited (previously Seawind Marine Limited) ('Rame Marine'), has opened its new waterside marine engineering premises at Turnchapel in Plymouth. Rame Marine is a key component of the Company's Engineering Services Division, which also supplies bespoke power generation solutions to the industrial, mining and utility sectors. 

The 3,000 square foot workshop and associated yard storage space benefits from slipways and deep water berthing at the site, enabling Rame Marine to undertake mechanical servicing and repairs on vessels both afloat and ashore. The workshop provides for the full range of diagnostic and engineering services for all types of marine propulsion systems as well as being a base for a fast response breakdown service catering for engine failures on vessels at sea.

Tim Adams, CEO, commented, "The opening of this new facility at Turnchapel marks a major step forward for Rame Marine and will enable us to produce valuable earnings whilst developing a technical skill base that is highly complementary and relevant to our Engineering Services Division as a whole. Building all areas of our Engineering Services capabilities will be a key area of growth for the Company in the coming months, in tandem with the ongoing construction of our first 15MW of wind projects being built as part of our Large Scale Power Generation Division. The new premises will allow us to pursue our strategy to grow our presence once more in the marine engineering sector having previously operated ship repair facilities in North Devon. From this facility Rame Marine will be approaching a range of new clients including government agencies and we look forward to announcing new contracts in the near future."

**ENDS**

Enquiries

Notes

Rame is an established revenue generative global supplier of cost effective, technically optimised and reliable power generation solutions including wind, solar and diesel to blue chip clients such as Akzo Nobel, Anglo American, Barrick Gold and Codelco. Operating since 2002, the Company's Engineering Services Division applies its broad in-house expertise to produce technology optimised, cost effective energy solutions for private customers, in particular power intensive heavy industries such as mining, as well as providing general marine engineering services. This division's capabilities were recently bolstered through the acquisition of the UK's longest established solar businesses.

The Company joined AIM in Q2 2014 to give it access to the capital markets in order to accelerate its objective of becoming an Independent Power Producer ('IPP'). Rame is targeting an operational portfolio of 300MW in Latin America within three years. The Company plans to build on its proven track record of delivering power in South America where it has been involved in the development of approximately 23% of Chile's installed wind power capacity (as at 31 December 2013). Accordingly, Rame has executed its first joint venture agreement with Santander Investment Chile Limitada to co-finance its first two wind projects totalling 15 MW, in which Rame has a 20% equity participation. The debt package for the two projects is being provided by Chilean bank, Banco BICE.

The Company also has a Small Scale Generation Division, which builds 500k - 9MW wind/ solar/ diesel projects for on and off grid private power sales.