Renewable Power from the Ocean's Waves

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 5 Buoyant Actuators Unveiled

Hon Ian Macfarlane MP, Dr Michael Ottaviano, Mr Grant Mooney and Mr Ivor Frishknecht on top of the CETO 5 Buoyant Actuators

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.


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Announcements
  • CSIRO secures $1.3m ARENA funding for a national wave resource modelling, mapping and impact assessment
  • Novel research to be applied to Carnegie's Perth Wave Energy Project
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  • $11m Australian Government grant awarded to Carnegie for $31m CETO Project
  • Carnegie's first CETO 6 Project to be located at Garden Island, Western Australia
  • $11m grant is additional to Clean Energy Finance Corporation $20m loan facility
  • Power from Project to be bought by the Australian Department of Defence
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  • CWE at tipping point with the imminent commissioning of CETO 5
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  • $7.6 million raised from Share Purchase Plan
  • Funds to be used for CETO 6 project design and development
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