(for anyone who isnt vernonhardapple, this isnt meant for you!...

(for anyone who isnt vernonhardapple, this isnt meant for you! This is a spin off from a CFU thread post)

CNM is developing wave energy technology that is a big chance of getting a grant under the REDP. The UK angle is that Renewable Energy Holdings (REH) is on the London AIM exchange. I wont go into the convoluted history of the two companies, but basically, they have agreed (subject to due diligence and shareholder vote) that REH will take a 35% stake in CNM. REH has wind farm, methane capture and solar interests as well as this stake in CNM and only has a market cap value less than that 35% of CNM. So you could argue it is very underpriced and will do exceptionally well if CNM gets the REDP grant.

Anyway, there's too much background to go into, but check out these two websites if you are interested.

http://www.carnegiecorp.com.au/

http://www.reh-plc.com/