“ASX-listed Carnegie Wave Energy has successfully completed 12 months of operations of its ground-breaking CETO 5 Perth Project, thus ticking off the final milestone required for its various government grant funding agreements with both state and federal governments.”
“This is seriously transformational, because it allows island, off grid and fringe grid communities to tap into the biggest advantage of wave energy, which is its consistency,” says chief executive Michael Ottaviano. “This is going to allow very high penetration of renewable energy into island networks. Up until now that has not been possible. Cheaper battery storage and solar helps, but the combination of wave with other renewables makes it easier to take higher penetration renewables into places it hasn’t been before, comfortably and cost effectively.”
“This is a model for islands to move away from diesel-power generation into a combination of renewables,” Dr Ottaviano said.
Carnegie to feature in National Geographic’s “Breakthrough” series, premiering in the US on Sunday, November 1st, 2015. The series features “cutting edge innovations and advancements that feature the real world of tomorrow…today.”
WA’s natural wave resources have made it home to three energy companies that have taken a collegial approach to developing new technology
Carnegie Wave Energy’s role in two out of these three [ARENA] projects is an acknowledgement of the company’s commitment to the development of ocean energy. It is the largest employer in the Australian wave energy industry, and has raised over $80 million to fund the development of the CETO wave energy technology.
These wave farms help to power an Australian naval base – and they’re coming to Cornwall
A group of WA engineers have created a wave power plant that the Federal Government believes may be the Holy Grail of base-load renewable energy.
When Carnegie Wave Energy managing director Michael Ottaviano founded the business, he was up against 12 established global players all racing to commercialise similar technology designed to harness the ocean’s power and turn it into electricity.
During the bleak weather, Carnegie’s inaugural project – which powers HMAS Stirling, Australia’s biggest naval facility – faced a foaming reliability test. “We generated power all the way through it,” Ottaviano says. “It was beautiful to see.”