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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:

 

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.

 

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:

 

Ends

 

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