CETO Technology

During 2009, REH sold the IP of their CETO Wave Energy technology to ASX listed Carnegie Wave Energy Limited (CWE) for a 30% shareholding in their company.  This transaction crystallises significant value for REH Shareholders.

This transaction has freed REH of any further funding obligations towards the development of CETO, however, REH remains fully committed to achieving the successful deployment of CETO during 2012, allowing REH shareholders the additional value of continuing to participate in the future revenues generated by its world wide rollout.

This shareholding makes REH the largest shareholder in CWE and entitles REH to two seats on the Board of Directors.

For further information on CETO please visit www.carnegiecorp.com.au