“Of the eight leading wave companies four have gone bankrupt, one was folded by its owner, one has scaled back its activities drastically, one has had serious setbacks and one (Carnegie Clean Energy) has made considerable progress with its technology.”
– Bloomberg New Energy Finance, 2016
To date, over $140m has been invested to fund the development of the CETO technology. Carnegie employs a combination of rapid prototyping, computational simulation, wave tank testing and, in-ocean testing in developing CETO.
CETO is designed to be the simplest and most robust wave technology globally and, after more than 10 years of continuous development, and tens of thousands of in-ocean operational hours of testing is now nearing the end of its commercialisation phase with the development and delivery of its CETO 6.