News

June 18, 2008

Strategic Partnerships Underscore The Potential Of Renewable Energy Holdings’ Wave Technology

By Rue Swabey

Momentum is building at Aim-traded, Isle of Man-based Renewable Energy Holdings (REH). The company’s portfolio includes proven and cash generative wind and bio energy technologies as well as a proprietary wave power technology called CETO that is still relatively early stage. But not that early: in the last twelve months REH has agreed two strategic partnerships to develop and commercialise its CETO wave power technology.

Last year Australia-based Carnegie Corporation, a developer of clean energy technologies, purchased the rights to use CETO technology in the southern hemisphere for £4.7 million plus a license fee and an annual royalty of 2.5 per cent of net earnings. And in January, REH announced that EDF Energies Nouvelles (EDF) had agreed to pay £3 million for a collaboration agreement that gives it the right to joint venture the commercial roll-out of CETO in the northern hemisphere. Each joint venture will...