Category: News

Carnegie Clean Energy Ltd pleased to share that its wholly owned subsidiary, CETO Wave Energy Ireland (CWEI), has successfully passed the EuropeWave Authorisation to Proceed (ATP) milestone as part of its EuropeWave ACHIEVE Contract.

As part of the ATP milestone, CWEI submitted detailed documents covering financial, technical, safety, regulatory, and testing aspects. These have been reviewed by the EuropeWave Buyers Group to determine whether it was ready to proceed to the next stage of contract delivery and marks another successful step towards the deployment of CETO at BiMEP as part of the ACHIEVE Programme.

The successful achievement of the ATP milestone marks the start of a transition over the coming months from planning and design into procurement. With the EuropeWave Authorisation to Proceed granted, the team will begin awarding contracts for the fabrication and procurement of long lead items. Passing the ATP milestone also unlocks a EuropeWave milestone payment of approximately €168k ($276k AUD) which can now be invoiced.

Carnegie Clean Energy today announced a major milestone on the path to commercialising its world-leading CETO wave energy technology. Carnegie’s wholly owned subsidiary, CETO Wave Energy Ireland has signed an Assignment Agreement related to the Berth Reservation Agreement between the Biscay Marine Energy Platform S.A. and Wave Energy Scotland Limited.

The new Assignment Agreement assigns the rights secured by Wave Energy Scotland, on behalf of the EuropeWave Buyers Group, to CETO Wave Energy Ireland as one of the successful Phase 3 Contractors.

The 2025 deployment of CETO at BiMEP marks a significant step forward for wave energy as a part of our future renewable energy systems.  BiMEP is known for its challenging sea conditions, making it the ideal environment to demonstrate CETO’s unique ability to generate consistent, reliable energy while withstanding powerful ocean forces.

Carnegie earned the preferential choice of berth reservation by achieving the highest rating for its bid in Phase 3 of EuropeWave PCP Programme. BiMEP’s state-of-the-art infrastructure, including subsea cables and grid connectivity, ensures Carnegie can validate its technology and contribute to the Basque Country’s decarbonisation targets.

“Our berth access at BiMEP provides an exciting opportunity for CETO to demonstrate its performance and reliability in a wide variety of sea states,” said Carnegie CEO Jonathan Fievez. “The coast at Armintza in the Basque Country where the BiMEP test site is located is notorious for its intense conditions. While BiMEP’s challenging sea states present a rigorous test, they are precisely the reason we chose this location. Our CETO technology is uniquely designed to continue to generate electricity in powerful ocean conditions by operating at a safe depth, strategies critical to generating reliable energy for the grid.

Successfully demonstrating our technology’s performance in a challenging environment is key to validating its robustness and storm survival strategies, positioning CETO as a leading solution for clean energy generation in even the most demanding marine locations. The facilities at BiMEP are world class and we are excited about working with the BiMEP team.”

Read the full ASX: Here

Take a virtual tour of the BiMEP test site: HERE

We’re honoured to have our CEO, Jonathan Fievez, deliver a keynote address at the upcoming #ICOE2024 conference in Melbourne, Australia. Jonathan will share insights on Carnegie Clean Energy’s ground-breaking work harnessing the power of the ocean to decarbonise  energy generation.

Jonathan’s leadership has been instrumental in securing over AUD$11 million contract to deploy our #CETO wave energy converter in The Basque Country – Spain, highlighting the growing global recognition of wave energy potential. Carnegie is grateful for this opportunity to showcase our hard work on the international stage at ICOE, for the first time in our own backyard, Australia!

The International Conference on Ocean Energy (ICOE) is a premier global event dedicated to accelerating the development and implementation of technologies that harness the ocean’s power for clean energy generation. From capturing the energy of waves and tides to utilising temperature and salinity differences, ICOE brings together experts, innovators, and policymakers to explore solutions for a sustainable energy future.

Key elements include keynote addresses by industry leaders, presentations on the latest advancements, exhibitor showcases, and networking opportunities. Held in Melbourne, Australia this year (September 17-19, 2024), ICOE represents a crucial platform for showcasing Carnegie Clean Energy’s ground-breaking work in wave energy and its potential to contribute to a decarbonised global energy grid.

Carnegie Clean Energys wholly owned subsidiary, Carnegie Technologies Spain, has been awarded €2.1m for the ACHIEVE+ project by the Ente Vasco de la Energia (EVE), the Basque Energy Agency. This award complements the contract awarded by the EuropeWave Project (€3.75m) and RENMARINAS DEMOS funding (€1.2m) creating a total funding pool of €7.05m ($11.66m AUD) for the deployment of CETO at the Biscay Marine Energy Platform (BiMEP) in the Basque Country.

The EVE funding awarded provides targeted support for elements of the CETO deployment such as the Buoyant Actuator (BA), Mooring System, Power Take-Off (PTO), and Reinforcement Learning (RL) Controller.

In addition, this support from EVE promotes more local content in the Basque Country, enables reduced technical and financial risks associated with the ACHIEVE CETO deployment, and unlocks and accelerates commercial project opportunities by fostering investor confidence and expanding the global footprint of CETO technology.

To view the full ASX announcement please click HERE

Click HERE to view information on the deployment of CETO at BiMEP, including all funding associated to the project.

Carnegie Clean Energy CEO Jonathan Fievez outlined the company’s strategic path forward at the recent OTC Markets Virtual Investor Conference focused on Clean/Renewable Energy. Virtual Investor Conferences is the premier investor conference series, facilitating direct communication and presentations between publicly traded companies and investors. The participation inspired by Carnegies recent dual listing on the US Over-the-Counter Quotation Bureau (OTCQB) under the ticker [CWGYF].

Mr. Fievez provided valuable insights into Carnegie Clean Energy’s recent progress, specifically focusing on the preparations for the deployment of CETO at the Biscay Marine Energy Platform (BiMEP) and successful award of financial support towards the ACHIEVE Programme through the EuropeWave PCP Programme and RenMarinas Demos Program.

The Recent deployment of MoorPower was also featured, demonstrating the applications of the innovative technology to the offshore aquaculture industry. Jonathan highlighting the trajectory of wave energy technologies in alignment with previously commercialised renewable energy technologies and the vast opportunity both CETO and MoorPower technologies provide to the global energy mix.

Investors were provided the opportunity to participate in a live Q&A session following the presentation, which led to some engaging conversation  conversation about a variety of topics including revenue models, what maintenance regimes are planned and about issues concerning consenting.

Click HERE to view the presentation recording.

To view the full ASX announcement, including presentation slides, please click HERE

Yesterday, we welcomed Matthew Whittle and Hannah Gray from Huon Aquaculture to Carnegie HQ. They saw the recently deployed MoorPower technology up close at our offshore testing site, met with our technical team, and explored how this solution could significantly reduce reliance on diesel generators in offshore aquaculture operations.

The Blue Economy CRC-funded MoorPower project is an example of harnessing wave power for cleaner, sustainable electricity generation. By partnering with industry leaders like Huon Aquaculture, we ensure MoorPower aligns perfectly with real-world customer needs, setting the stage for successful commercialisation. We are grateful to Huon for their ongoing support of the MoorPower Project and their dedication to decarbonisation of their offshore operations.