REH says it has entered into a heads of agreement to sell its wave energy patent portfolio, known as CETO, to ASX-listed Carnegie which will conclude the deal by issuing 252 million of its shares to the UK company.
The transaction will make REH the biggest shareholder in Carnegie with a 35% stake.
Carnegie has a joint venture licence relationship with REH in the Southern Hemisphere to develop the CETO Wave Energy technology.
REH
