Interim results for the six months ended 30 June 2008

Renewable Energy Holdings plc (AIM: REH), the AIM quoted investor and operator of proven and innovative renewable energy technologies, is pleased to announce its interim results for the six months ended 30 June 2008.

Financial Highlights

• Company moves into profit, reporting a profit before tax of £1.1 million
• Revenue increased by 149% to £4.6 million (1H 2007: £1.8 million)
• Project finance facility with Standard Chartered Bank increased from €135 million to approximately €183 million to finance the expansion of REH’s wind farm portfolio
• Revenue of £2.0 million from the sale of rights to use the CETO technology in the Southern Hemisphere recognised during the period to 30 June 2008

Operational Highlights
• Management team strengthened with recruitment of Business Development Director, Senior Project Engineer and a Science & Intellectual Property Manager
• Potential sites identified for CETO wave farms
• Upgraded power purchase agreement for Wales landfill gas plant
• Wind asset expansion in Germany and new projects in Poland and Wales making encouraging progress


Commenting on the results, Mike Proffitt, Chief Executive of REH, said:
“We have created a platform for the growth of REH’s asset portfolio, both in terms of our financial and human resources. We continue to make good progress on the expansion of our proven technology assets and are moving towards the commercialisation of CETO, our proprietary wave energy technology.

“There is growing interest in sound renewable energy technologies and REH is well positioned to take advantage of the increasing opportunities.”

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