Carnegie wins award for its Perth Wave Energy Project

29 March 2010

Re: Carnegie wins award for its Perth Wave Energy Project
Please find below a Perth Wave Energy Project Award announcementreleased on 26 March 2010 by Carnegie Wave Energy Limited, in which REH holds 232,600,000 fully paid ordinary shares:
“Carnegie wins award for its Perth Wave Energy Project
Australian Wave Energy developer, Carnegie Wave Energy Limited (ASX: CWE), is pleased to announce that it is the winner of the inaugural Sustainable Energy Industry Excellence and Innovation Developer Award for its Perth Wave Energy Project.  At the award dinner held on Wednesday night (24 March 2010), as part of the WASEA’s inaugural Energising WA Conference, awards were presented by the Minister for Energy, Hon. Peter Collier.
The judges commented, “Carnegie’s nomination stood out as it clearly demonstrated that the project is truly innovative and sustainable. Wave technology is attractive as it creates a reliable and predictable power source which operates without water consumption and the use of the novel fully submersible technology means the project has little visual impact. Of particular note is the potential second application of this technology to provide desalinated freshwater.”
The Sustainable Energy Industry Excellence and Innovation Developer Award, sponsored by the Forest Products Commission, is for innovative development plans for a new renewable energy project, process or plant which is well advanced through the design and construction process, but not yet in operation.
Carnegie was please to accept the award and appreciative of the support the WASEA and of the Western Australian Government.
About CETO
The CETO system distinguishes itself from other wave energy devices by operating out of sight and being anchored to the ocean floor. An array of submerged buoys is tethered to seabed pump units. The buoys move in harmony with the motion of the passing waves, driving the pumps which in turn pressurise water that is delivered ashore via a pipeline.
High-pressure water is used to drive hydroelectric turbines, generating zero-emission electricity. The high-pressure water can also be used to supply a reverse osmosis desalination plant, replacing greenhouse gas emitting electrically driven pumps usually required for such plants.
CETO Technology characteristics include:
  • CETO converts wave energy into zero-emission electricity and desalinated water
  • CETO is environmentally friendly, has no visual impact and attracts marine life
  • CETO is fully submerged in deep water away from popular surf breaks”
For further information, please contact:
Renewable Energy Holdings plc
Mike Proffitt, Chief Executive
Tel: +44 (0) 16 2464 1199      
Strand Hanson Limited
Rory Murphy / James Spinney
Tel: +44 (0) 20 7409 3494
Novus Capital Markets Ltd
Charles Goodfellow / Paul Dudley
Tel: +44 (0) 20 7107 1872
Financial Dynamics
Billy Clegg / Ed Westropp / Alex Beagley
Tel: +44 (0) 20 7831 3113