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- $1.3m milestone payment received from the Australian Renewable Energy Agency - Milestone payment received for completion of onshore power plant at the Perth Wave Energy Project
- Collaboration Agreement signed with Fundación Chile to develop wave energy in Chile and Peru - Carnegie is also now a partner in a Local Government Innovation Fund for the Development of Marine Energy in the coastal communities of the
Region of Valparaiso
- Full array of three CETO 5 units now operating at Perth Project site - CETO 5 units combined total of 4,000 operating hours - Power now being supplied to Department of Defence
- Financial close reached on the $20m CEFC facility for CETO 6 - Investigative site licence issued for CETO 6 Project - Site characterisation activties underway
- Receipt of $3.9m from the Australian Tax Office
- Tax rebate to support Australian companies to undertake Australian research and development
Off the coast of Western Australia, three big buoys floating beneath the ocean's surface look like giant jellyfish tethered to the seafloor. The steel machines, 36 feet wide, are buffeted by the powerful waves of the Indian Ocean. By harnessing the constant motion of the waves, the buoys generate about 5 percent of the electricity used at a nearby military base on Garden Island.
Amid falling iron ore prices and a fiery GST debate, visionaries such as Carnegie Wave Energy boss Michael Ottaviano are getting on with ensuring WA becomes a world leader in renewable energy through the ocean's waves.
The current version, CETO 5, has a capacity of 240kW per buoy. Three of these beasts are now tethered to the sea bed 3km from HMAS Stirling, on Garden Island. They also help run a desalination plant on the base, for fresh water is a valuable commodity in Western Australia's arid climate.
Russel Research's Peter Russell puts a buy call on Carnegie.
Patersons' Sam Fimis puts a buy call on Carnegie (CWE)
Carnegie Wave Energy Limited (ASX:CWE) is focused on developing and commercialising its 100% owned CETO wave energy technology which is capable of producing zero-emission power and direct desalinated water.
CETO differs from other wave technologies under development globally by being fully submerged and being able to generate power both onshore and offshore. CETO has been proven at pilot scale and is now in its commercial demonstration phase.
Our team are a vital part of our business and Carnegie is committed to finding talented and innovative professionals who are dedicated to the development of the CETO Wave Energy technology. Carnegie is an industry leader in the wave energy sector and has strong engineering and analysis capabilities, unique development and test facilities, and is recognised globally for its innovation in the clean energy sector.
At Carnegie, we encourage our staff to develop both personally and professionally. We are committed to investing in our employees' continued professional development and their personal career progression.
If you're looking for a workplace with a difference and you are someone with a passion for renewable energy and innovation then Carnegie is the place for you.