Isle of Man-based REH was admitted to London’s Alternative Investment Market on 11 February 2005 with an initial capital raise of 10 million pounds. They will proceed to make renewable energy investments in Europe while continuing research into Pacific Hydro’s CETO wave energy technology at their Fremantle facilities.
Pacific Hydro has reserved first right of refusal to any involvement in REH’s future renewable energy projects and will have further input into policy through the appointment of managing director Jeff Harding to the REH board, alongside CEO Michael Proffitt, chairman John Baker, Alan Burns and Roger Lane-Nott.
