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CETO Technical Report
The board of directors (“Board”) of REH is pleased to announce that it has received a final version of an independent technical report on the CETO wave power device technology (“Report”) prepared by PB Power, part of Parsons Brinckerhoff, an independent consultancy firm company specialising in the global power industry.
The Report was commissioned by REH in order to provide an independent, expert, third party validation of the CETO wave power device technology and the Board is pleased to announce that the findings of PB Power’s report are favourable.
Key factors confirmed by the report are the estimated capital expenditure per MW, which positions CETO close to wind turbines, but with more than twice the operating load factor, and the estimated operating expenditure per Kwh which enables CETO to be economically competitive with fossil fuel-based generation.
Click here to download the executive summary.
Click here to download the full report.
Commenting on the findings of the PB Power report, Mike Proffitt, Chief Executive of REH, commented: “The findings of the PB Power report give the Board great satisfaction that the development expenses incurred to date in developing the CETO technology have been well invested. PB Power validated not only our technology but also our commercial assumptions. The Board is now fully confident to move forward to the commercialisation of the CETO wave power unit and will be seeking an appropriate partner to assist the Company with this.”
Renewable Energy Holdings plc
Mike Proffitt, Chief Executive Officer
Tel: 01624 641199
Nabarro Wells & Co. Limited
Richard Swindells
Tel: 020 7710 7400
Parkgreen Communications
Paul McManus
Tel: 020 7786 9600
END
21 December 2006
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