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Isle of Man-based renewable energy group’s £1.1m profit – Isle of Man Today

Isle of Man-based renewable energy group’s £1.1m profit

iomtoday.co.im 10 September 2008 A RENEWABLE energy group run by the former chief executive of the Manx Electricity Authority has posted profits of £1.1million.

Mike Proffitt is in charge of the day-to-day operation and development of Isle of Man-based Renewable Energy Holdings plc (REH), which was listed on AIM in February 2005. The group’s stated aim is to reduce carbon emissions and greenhouse gases by ‘innovative technologies’ in renewables.
Announcing interim results for the six months ending June 30, 2008, Renewable Energy is reporting a profit before tax of £1.1million, an increase in revenue by 149 per cent to £4.6million and revenue of £2million from the sale of rights to use CETO technology in the southern hemisphere.

Isle of Man-based renewable energy group’s £1.1m profit – Isle of Man Today

Tags: renewables, renewableenergy, energy efficiency

September 12, 2008 - Posted by Christina Macpherson | ENERGY