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Investor Update

Cetus Energy Test Results Give Confidence

Melbourne: January 20th 2009.  Cetus Energy today announced that an independent review and assessment of the Cetus Blade system by Melbourne based engineering and renewable energy consultancy Enhar has now been completed. The report provides independent and objective support that the Cetus technology can provide a scalable power generation solution.

Simon Marriott Cetus MD said, “The Enhar report provides us with some very hard and objective evidence that the blade technology Cetus has developed has real commercial application. It gives us the confidence to now proceed on a solid commercialisation strategy”.

The Enhar report modelled the potential of a full scale Cetus in a tidal stream resource and would indicate that a 20 meter twin shaft unit would be capable generating between 764 and 1,500MWh/year (equivalent to a saving of over 2000 tons of greenhouse gas emissions from brown-coal Power station).

David Dipnall, Cetus CSO said “The report validates the R & D work we have been conducting over the last 8 years. It leads us to a confident and successful conclusion of that phase of the Cetus Project, knowing that our technology delivers significant power, and will become established as a benchmark in viable renewable energy technology."

Cetus has also announced that as a result they have appointed Marand Precision Engineering as Manufacturing engineers responsible for scoping out a full pre pilot plant that will be tested in a tidal location in Victoria. Simon Marriott commented, “We are excited to be partnering with Marand on this new important step. They are leaders in developing new energy technologies and a great strategic fit with Cetus” 

Cogentum have been engaged to act as advisors on the commercialisation strategy. Cogentum Director Michael Johnson commented: “We believe Cetus represents a truly paradigm shifting energy technology with potential across a range of applications. It is world leading technology and we are excited to be playing a role in the development of what is a rapidly growing arena”.

For Further information contact: Simon Marriott.  Email: simon.marriott@cetusenergy.com.au Mobile: 0419 362 874