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Renewable Energy (REH)

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Wednesday 27 July, 2011

Renewable Energy

Re: Carnegie New Director Appointment

RNS Number : 1588L
Renewable Energy Holdings plc
27 July 2011
 



27 July 2011

 

Renewable Energy Holdings plc

("REH" or the "Company")

 

Re: Carnegie New Director Appointment

 

Renewable Energy Holdings plc (AIM: REH), the AIM quoted investor in, and operator of, European wind power, notes an announcement released on 27 July 2011 by Carnegie Wave Energy Limited, in which REH holds 232,600,000 fully paid ordinary shares, representing 25.8% of the entire issued share capital.

 

"27th July 2011

 

New Director Appointment

 

Carnegie Wave Energy Limited (ASX: CWE) is pleased to announce the appointment of Mr John Leggate, CBE, FREng to its Board of Directors as a non-executive director.

 

Scottish-born and London-based, Mr Leggate is a highly experienced oil and gas and venture capital industry executive. He worked for over twenty seven years for BP, most recently as the Group Chief Information Officer and member of the BP Group Senior Leadership Team, before joining $4.5 billion venture capital firm VantagePoint Capital Partners in 2008 where he is currently a Venture Partner and Senior Advisor to their CleanTech Advisory Council.

 

At BP Mr Leggate was closely involved in the development of corporate policy on technology foresight, and corporate venturing during the dotcom era. He has spent 20 years in the exploration and production business; running various projects, construction, commissioning and production operations with a focus on the North Sea, Azerbaijan and the Caspian Region. Mr Leggate's early career was spent in marine consultancy at Yarrows Admiralty Research in Glasgow and after that he was engaged in the design and construction of coal, oil and nuclear power stations with South of Scotland Electricity Board (now Scottish Power).

 

Mr Leggate said:

"I've followed Carnegie's progress with great interest over the past few years and am delighted to be joining the Board at such an exciting time. I'm impressed by the CETO wave technology and with the Carnegie team. The wave sector has enormous potential and I'm looking forward to help drive Carnegie to capitalise on this potential."

 

Carnegie's Chairman Mr Grant Mooney said:

"We are delighted to welcome John onto the Carnegie Board. His unique combination of offshore engineering experience, clean technology venturing and corporate power and energy experience will be a great asset for us".

 

John currently serves on the Main Board and Audit Committee of FloDesign Wind Turbines, a venture backed Boston based wind turbine company. He is also on the Board of Solar Century where he also is Chairman of the Audit

 

Committee and of the Nominations and Governance Committee. John also served as a director on the Main Board and Audit Committee of London listed ParkMead Group. He has also served on the UK DTI Far Eastern Trade Advisory Board for four years and was advisor to the US House Science Committee on the potential threat from cyber security on critical national infrastructure and global trade.

 

John was honored as Commander, The Most Excellent Order of the British Empire by the Queen in the 2004 New Year's Honours List in recognition of outstanding contribution and leadership to the international digital technology agenda. John is a graduate of Glasgow University and is a Fellow of the Institute of Electrical Engineering and Fellow of the Royal Academy of Engineering.

 

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

 

About Carnegie

Carnegie Wave Energy Limited is an Australian, ASX-listed (CWE) wave energy technology developer. Carnegie is the owner and developer of the CETO Wave Energy Technology intellectual property."

 

Ends

 

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

Nicholas Lee

 

Tel: +44 (0)20 7107 1881

Financial Dynamics

Billy Clegg / Ed Westropp / Alex Beagley

Tel: +44 (0) 20 7831 3113

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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