traveller Posted April 21, 2005 Share Posted April 21, 2005 An IOM company called Renewable Energy Holdings plc listed on the AIM stockmarket recently. Its share floatation is supposed to have raised some £10 million pounds The Registry records show its authorised share capital is £1,500,000. This is divided into 150,000,000 ordinary shares of £0.01 of which ...wait for it.....only TWO are issued. So who has stumped up the £10 million quid? Are they expecting to be shareholders?? Why can't we see the names?? Who is the company secretary who should have all the answers? - a chap called C J Wilcox. Who CJ ( besides Reggie Perrin's old mate) ? CJ is the latest guy to say he's leaving the MEA Who authorised CJ whilst acting as an MEA employee to be, since 23/11/04, an officer of Renewable Energy Holdings plc ?? Answers on a large postcard.... Link to comment Share on other sites More sharing options...
Stavros Posted April 21, 2005 Share Posted April 21, 2005 The company behind Ceto, Seapower Pacific, is owned by Renewable EnergyHoldings, which is based in the Isle of Man and listed on the London Stock Exchange. Its CEO, Michael Proffitt, explained that there is some way still to go before the device is commercially viable. "We have set aside £1.5 million for what you see now, which is the commercial testing, so we'll be gathering data on the seabed for the next 12 months," he said. "That data will effectively design the commercial application, so this is more of a laboratory than the actual commercial unit." The trial unit will be sunk close to the shore in just 7m (23ft) of water during the testing process, and will have an access tower that will rise above the surface of the sea. Commercial units would be located further off the coast, in deeper water. Stav. Link to comment Share on other sites More sharing options...
Ripsaw Posted April 21, 2005 Share Posted April 21, 2005 Sounds like some sort of renewable energy, but I could be way off. Link to comment Share on other sites More sharing options...
Topaz Posted April 21, 2005 Share Posted April 21, 2005 Stav Must have read the following.... Deep water generator puts wave power to the test by John Roberson A new method of generating electricity from waves has gone on trial in Australia, and supporters say it could replace wind power as the renewable energy of choice It is not very often that dignitaries gather for the champagne launch of a vessel that they hope will sink without trace, but the Ceto wave energy converter launched near Fremantle, Australia is designed to plunge to the bottom of the ocean and stay there. Ceto is basically a steel box that sits on the sea bed and pumps seawater to the shore, where it can be used either to produce fresh water or to drive turbines for power generation. The converter measures about 20 metres by 4.5 metres and is capable of pumping water at a pressure of 1,000 psi. Each unit is expected to produce enough power for about a hundred homes. While renewable energy research has focused mainly on wind turbines, supporters of wave power say that the energy within the oceans is a hundred times denser than that contained in other forms of renewable energy, such as wind or solar power. It is also more consistent: as any experienced diver will tell you, even when the surface of the ocean appears motionless the seaweed and the sand on the bottom is constantly moving. According to the Australian inventor, Alan Burns, who has been working on wave energy development for a quarter of a century, Ceto's major advantage over rival wave energy prototypes will be its efficiency. Unlike other methods, which pipe water ashore before harnessing its power and lose substantial amounts of energy in the process, Ceto captures the power of the water in situ. As waves move over the top of the unit, they press down on a disc that transmits the force to pumps inside, which deliver pressurised water to the shore. Ceto’s other main advantage comes from its location on the seabed. Most other methods of wave powered electricity generation involve placing devices on the surface of the sea, where they are exposed to the damaging effects of stormy weather and could pose a threat to shipping. The fully submerged Ceto converters could also be used in areas of natural beauty, where offshore wind turbines or surface-level wave converters would be unwelcome. ... The company behind Ceto, Seapower Pacific, is owned by Renewable Energy Holdings, which is based in the Isle of Man and listed on the London Stock Exchange. Its CEO, Michael Proffitt, explained that there is some way still to go before the device is commercially viable. "We have set aside £1.5 million for what you see now, which is the commercial testing, so we'll be gathering data on the seabed for the next 12 months," he said. "That data will effectively design the commercial application, so this is more of a laboratory than the actual commercial unit." The trial unit will be sunk close to the shore in just 7m (23ft) of water during the testing process, and will have an access tower that will rise above the surface of the sea. Commercial units would be located further off the coast, in deeper water. Link to comment Share on other sites More sharing options...
Ripsaw Posted April 21, 2005 Share Posted April 21, 2005 An Isle of Man company that spends millions on a ship that sinks.... Hmmmmmm, original concept Link to comment Share on other sites More sharing options...
Slim Posted April 21, 2005 Share Posted April 21, 2005 Sounds like a fab idea to me, renewable energy is something the entire human race must develop very quickly or we're in for a tough time. As for the MEA employee that appears on another board, whats wrong with that? It's not that unusual to have two jobs. I've got several, cleared by my employer. Link to comment Share on other sites More sharing options...
Tempus Fugit Posted April 22, 2005 Share Posted April 22, 2005 is there 23ft of water just off Poyll Vaaish Link to comment Share on other sites More sharing options...
Mr Splitter Posted April 22, 2005 Share Posted April 22, 2005 Hmmmm. I wonder if this is part of the reason why the new MEA boss threw a wobbler over that guy's wind generator in Port Erin! Could well be, we know what the IOM is like for fair competition. Maybe Hasbro should think about a special Monopoly IOM edition! Not that anyone else would be able to join in and play! We seriously need to look at renewable energy. It's our future and our childrens. In year's to come when we're all six foot under what do you think our decendents are going to do? Look back at all of us with affection as they inherit a knackered planet! It's certainly food for thought!!!!! Link to comment Share on other sites More sharing options...
happy camper Posted April 22, 2005 Share Posted April 22, 2005 Two birds with one stone Rubbish 'could power 2m houses' Link to comment Share on other sites More sharing options...
Slim Posted April 22, 2005 Share Posted April 22, 2005 The problem with rubbish is dealing with it in an environmentally friendly way. Burning it's not so hot, if you get my meaning. Link to comment Share on other sites More sharing options...
simon Posted April 22, 2005 Share Posted April 22, 2005 Sounds like a fab idea to me, renewable energy is something the entire human race must develop very quickly or we're in for a tough time. Ever read Stark? I wonder what they're really up to. Link to comment Share on other sites More sharing options...
BigDave Posted April 22, 2005 Share Posted April 22, 2005 Two birds with one stone Rubbish 'could power 2m houses' We've already got an energy from waste plant on the Island. A lot of people seem to be missing the fact that our incinerator also generates electricity. Link to comment Share on other sites More sharing options...
crumlin Posted April 22, 2005 Share Posted April 22, 2005 Two birds with one stone Rubbish 'could power 2m houses' We've already got an energy from waste plant on the Island. A lot of people seem to be missing the fact that our incinerator also generates electricity. <{POST_SNAPBACK}> Correct but the incinerator needs to have a regular supply of waste to generate electricity, and it is not getting it, Why do you think the Government are paying out compensation to the company that run it Link to comment Share on other sites More sharing options...
traveller Posted April 23, 2005 Author Share Posted April 23, 2005 As for the MEA employee that appears on another board, whats wrong with that? It's not that unusual to have two jobs. I've got several, cleared by my employer. <{POST_SNAPBACK}> "Cleared by my employer" - so who cleared CJ to do the Co Secretary job of a public co thats traded on the stock market ? Would that have been his former boss before he left ?? How can the Manx tax payer be certain that intellectual property knowledge that CJ and his former boss will have gained whilst working for the MEA isn't now going to be used in their new jobs?? Link to comment Share on other sites More sharing options...
Rog Posted April 23, 2005 Share Posted April 23, 2005 Correct but the incinerator needs to have a regular supply of waste to generate electricity, and it is not getting it, Why do you think the Government are paying out compensation to the company that run it <{POST_SNAPBACK}> How long before you see waste being imported. Any bets? Link to comment Share on other sites More sharing options...
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