Carnegie Corporation Obtains Southern Hemisphere CETO Wave Energy Operation License
Thursday August 9, 2007, 9:16 am
Original Announcement:
Southern Hemisphere CETO Wave Energy Operation License
Carnegie Corporation announced it has agreed upon terms with AIM-listed Renewable Energy Holdings Plc (REH) for an exclusive license to operate the CETO wave energy technology throughout the Southern Hemisphere. Under the terms of the binding Letter of Agreement, Carnegie will be able to own up to 90% of any CETO wave energy power and water project in the Southern Hemisphere (excluding Reunion Island) in return for funding the remaining CETO development. The company is expected to contribute funding of $6-8m towards the final stages of the CETO technology development.
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