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Following on from the additional tests at Strathclyde University carried out earlier this year, Black and Veatch have now delivered their independent report. This report confirms our initial and preliminary assessment that a further significant reduction in the cost of energy is achievable.

The results are now being fed into the consolidated business plan and financial model, the completion of which will pave the way for the launch of the previously heralded equity participation round.

Risk Warning

This communication is issued in the UK by Checkmate Seaenergy Ltd. (“the Company”). This communication is for information purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any shares in Company. No such offer or solicitation will be made except pursuant to a prospectus or information memorandum or other offering document if and when issued by the Company.