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Subscribe to RSS feedBoard Appointment
03 September 2007
Wayne is appointed to the Board of REH as a nominee of Triandra Limited (“Triandra”) which recently, under advice from its investment adviser Consensus Business Group Limited ("Consensus"), exercised warrants to subscribe for 4,000,000 new ordinary shares of 1 pence each in the capital of the Company at a price of 50 pence per share. This warrant exercise was announced on 13 August 2007.
Wayne Bruce Keast, aged 37, is Chief Executive of Consensus Environment, the £250m CleanTech and Environmental private equity and strategic investment arm of Consensus. Wayne is also an investment director for the US$250m Masdar CleanTech Fund and the US$150m Inspired Evolution Environmental Fund. He is on the advisory boards / strategic committees for Aloe Environment Fund II, Chrysalix Energy II LP and Expansion Capital Clean Tech Fund II. Wayne is also a non-executive director of a number of public and private companies operating in the bio-fuel, clean energy / technology, carbon and waste recycling sectors.
Prior to joining Consensus, Wayne spent several years in corporate finance, venture capital and private equity positions, including a number of years as chief financial officer at ePartners and eVentures, the $1.2 billion global private equity and business incubation group.
Wayne is a qualified Chartered Accountant with a Bachelors and Honours degree in Commerce & Finance.
Commenting on the investment by Triandra and Wayne Keast’s appointment, Mike Proffitt, Chief Executive of REH said:
“We are delighted at Triandra’s investment in the Company and feel that having a Board seat will enable Triandra Limited, via its investment adviser Consensus, to bring their considerable reach and financial experience to the Company’s benefit as it builds momentum in growing its asset base. Having Wayne Keast as Consensus’ nominee is particularly pleasing as Wayne is already well known to the Company and current Board.”
Vincent Tchenguiz, Chairman of Consensus added:
“We are pleased to have recommended the acquisition of a strategic interest in REH and are looking forward to helping it grow its business in this very exciting Renewables Sector.”
Wayne Keast currently holds the following directorships:
Inspired Evolution Investment Managers (Pty) Limited
Dynamotive Energy Systems Corporation
Econergy International plc
Re-Energy Group plc
Green Gas International Limited
Bowman Power Limited
Dynamotive Biomass Research Company
Dynamotive Europe Limited
Virtual Fund Administration Limited
9c Avenue Road (Pty) Limited
Wayne Keast has held the following directorships during the past five years:
8 Werter Road Limited
There are no further disclosures required under schedule 2(g) of the AIM Rules for Companies.
For further information please contact:
Mike Proffitt, Chief Executive
Renewable Energy Holdings plc
Tel: 01624 641199
Katherine Roe
Panmure Gordon, Broker to REH
Tel: 020 7459 3600
Richard Swindells
Nabarro Wells, Nominated Adviser to REH
Tel: 020 7710 7400
Emma Kane / Samantha Robbins / Paul Dulieu
Redleaf Communications
Tel: 020 7822 0200
Notes to Editors
About Renewable Energy Holdings
Renewable Energy Holdings is an international company established to be an operator of, and undertake active investment in, both proven and innovative renewable energy technologies.
REH owns two wind farm sites in Germany: Kesfeld, a 32.5MW wind farm, and Kirf, a 8MW wind farm. In addition, REH is at various stages of development of further wind farm sites in Poland, Hungary and Wales.
REH owns a 1MW methane Landfill Gas Project in Powys, Wales. The long-term objective for this project is to increase production to 5-6MW.
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.
In April 2007, REH secured a credit facility with Standard Chartered Bank of up to €135,000,000 (c. £91.8m).
In July 2007, REH entered into a binding Memorandum of Understanding with EDF Energies Nouvelles SA (EDF EN) regarding a Collaboration Agreement which will exclusively permit EDF EN to develop offshore wave power projects in the Northern Hemisphere and at Reunion Island in the Indian Ocean using REH’s proprietary CETO wave power technology.
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 Market in February 2005.
Further information can be found at www.reh-plc.com