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Market: AIM
Sector: Cleantech and Renewable Energy
EPIC: REH
Latest Price: 10.50p  (0,00%)
52-week High: 15.50p
52-week Low: 8.50p
Market Cap: 7.31M
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Renewable Energy Holdings
www.reh-plc.com

Renewable Energy Holdings plc owns and operates the Kesfeld and Kirf Windparks in Germany and the Gwynt Cymru Landfill Gas site in Wales. Through its subsidiary, Seapower Pacific Pty Ltd, the Company is engaged in research and development for the purposes of developing technology to capture energy produced by ocean waves to generate electricity and produce as a by-product, desalinated water.

Full Renewable Energy Holdings profile here
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Renewable Energy Holdings subsidiary receives A$1.3 million milestone payment

1st Jul 2011, 9:47 am by Jon Mainwaring Carnegie has now drawn down approximately A$2.7 million of the A$12.5 million grant

Wind and wave power firm Renewable Energy Holdings (LON:REH) announced today that its subsidiary, Australian Securities Exchange-listed Carnegie Wave Energy (ASX:CWE), has received its third milestone payment from the government of Western Australia.

Carnegie, in which Renewable Energy has a 25.8 percent stake, has drawn down a further A$1,257,452 under the A$12.5 million grant that it has with the state following successful installation and operation of its commercial-scale CETO wave energy technology, as well as completion of conceptual plant design for the grid-connected Perth Wave Energy Project.

Carnegie has now drawn down approximately A$2.7 million of the A$12.5 million grant over the last 18 months and it has stated that it is currently meeting all development milestones.

CETO is a fully submerged technology that is capable of producing renewable power and directly desalinated freshwater from the ocean’s wave.

The Perth Wave Energy Project is located in the open ocean off Western Australia at a depth of 25 metres. Upon completion, it will be Australia’s first commercial-scale wave energy project.

The primary aim of the project is to demonstrate the CETO technology in generating wave power on a commercial basis, but the project site could also be a base for a desalination pilot project using the technology.

At 9:17am this morning Renewable Energy Holdings’ share price was unchanged at 15.25 pence.

 

 

 

 

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