Catching Waves and Turning Them Into Electricity
Off the coast of Western Australia, three big buoys floating beneath the ocean's surface look like giant jellyfish tethered to the seafloor. The steel machines, 36 feet wide, are buffeted by the powerful waves of the Indian Ocean. By harnessing the constant motion of the waves, the buoys generate about 5 percent of the electricity used at a nearby military base on Garden Island.
Waves ahead in green energy
Amid falling iron ore prices and a fiery GST debate, visionaries such as Carnegie Wave Energy boss Michael Ottaviano are getting on with ensuring WA becomes a world leader in renewable energy through the ocean's waves.
Share Tips - Buy
Russel Research's Peter Russell puts a buy call on Carnegie.
Buy Call - Sam Fimis, Patersons
Patersons' Sam Fimis puts a buy call on Carnegie (CWE)
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Swell Time: Navy taps power of ocean
The navy's Perth base, HMAS Stirling is now being powered by the ocean after a decade of developing technology to convert swells into electricty.
Wave Power Plant Starts
Federal Minister for Industry and Science, the Hon Ian Macfarlane has opened the world's only grid-connected wave power project off Garden Island in Western Australia
Carnegie Number 4 in Top 100 Stock Tips for 2015
Carnegie shares have been firming in the wake of the commissioning of the wave power group unit off Garden Island near Perth. A second unit is due on stream within weeks, to deliver power to the nearby naval base in the New Year.