News

May 25, 2007

Renewable Energy Holdings’Unique Wave Power Technology Progressing Well

By Rue Swabey

Is the energy of the future ocean power or geothermal? How does one pick the right renewable energy technology? Diversification is crucial and AIM listed Renewable Energy Holdings is following the rules by the book. Its portfolio includes renewable energy technologies which are proven and cash generative and others which are early stage and speculative. Renewable Energy’s investments include wind and landfill gas and a proprietary wave energy device called CETO. Its investment philosophy is to acquire cash-generative assets in countries where there is government support for the technology in question as is the case with wind in Germany and landfill gas generation in the UK.

CETO is a seabed pump which was developed by Seapower Pacific and acquired by Renewable Energy in February 2005 for £5million. At the time of the acquisition CETO was 75 per cent of the way through its R&D programme. CETO is a unique technology as it is the only wave power converter to sit on the seabed where it is safe from storms and invisible. Unlike other systems that require expensive sub-sea electrical cables, CETO only needs a small pipe to carry high pressure seawater ashore to either a...