Carnegie Clean Energy (Formerly Carnegie Wave Energy)
Carnegie is largely focussed on improving and commercialising its wholly-owned patented CETO wave-energy technology (See below). At the beginning of December 2016 Carnegie Wave Energy changed its name to Carnegie Clean Energy and acquired Energy Made Clean, another Australian company specialising in microgrids. This acquisition enhanced Carnegie’s ability to provide comprehensive solutions to the energy problems of remote islands and initial agreements have been signed with Mauritius, Sri Lanka, and the Seychelles.
In 2015, with the aid of government grants totalling AUD $ 17.7m, Carnegie commissioned an array of three CETO-5 to provide electricity for HMAS Stirling, an Australian naval base on Garden Island, in Perth Harbour. In November 2016, CETO Wave Energy UK was granted £9.6 m by the European Regional Development Fund (ERDF) to carry forward the first phase of a 1 MWpre-commercial CETO project at Wave Hub, ten miles off the north Cornwall coast at Hayle. If successful this would be followed by a commercial phase,(10-15 MW) In April 2017 Carnegie raised AUS$18m in an over-subscribed offering, partly to fund the 10MW Northam Solar project in Western Australia, scheduled to be operational by the end of 2017.
Exchange: Australian ASX (CCE)
Financial data from Exchange Website: ASX summary
Recent Financial Report: Results for year to 30 June 2016
The Cylindrical Energy Transfer Oscillator (CETO) system distinguishes itself from other wave systems in sending ashore water-not electricity. An array of fully submerged buoys is tethered to seabed pump units. The buoys move in harmony with the motion of the passing waves, driving the pumps which in turn pressurise water that is delivered ashore via a pipeline. On shore, this high pressure water is used to drive hydroelectric turbines, generating zero-emission electricity. The water can also be used to supply a reverse osmosis desalination plant, replacing the greenhouse gas-emitting, electrically-driven pumps usually required for such plants. The diameter of the buoyant actuator has the most influence on power output.
Carnegie Clean Energy
Suite 1, 124 Stirling Highway
Western Australia 6159
Tel +61 8 9486 4466
Chairman: Jeffrey Harding
Managing Director: Michael Edward Ottaviano