Carnegie Wave Energy Limited is the ASX-listed inventor, owner and developer of the patented CETO wave energy technology that converts ocean swell into zero-emission renewable power and desalinated freshwater. 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. Carnegie operates two ocean test sites – a “nursery site” at its Private Wave Energy Research Facility in Fremantle, Western Australia and an open ocean site at its Perth Wave Energy Project site off HMAS Stirling, Australia’s largest naval base, at Garden Island, Western Australia.
Carnegie owns a 35% stake in leading Australian solar and battery company Energy Made Clean (EMC). The parties have a Strategic Alliance Agreement to deliver microgrid initiatives, a new strategy designed to aid in island market entry for CETO. Carnegie’s CEO, Dr Michael Ottaviano, is also a Director of EMC.
CETO is designed to be the simplest and most robust wave technology globally and, after 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 product generation.
The CETO technology has been independently verified by EDF – Energies Nouvelles (EDF EN), who is the first licensee of the CETO technology, as well as independent engineering and assurance firms such as Frazer Nash and DNV GL.
Carnegie is focused on the global commercialisation of its CETO technology and as such, has 100% owned subsidiaries in the United Kingdom, Ireland and Chile.
Carnegie has developed strong relationships with credible partners to assist the development and commercialisation of its CETO technology.
the French Government power giant is the first CETO Power technology licensee and JV partner.
Australian Federal Government
$25m in grant funding for the Perth Wave Energy Project (CETO 5) desalination plant and the CETO 6 Project at Garden Island.
Western Australian Government
$10m grant for the Perth Wave Energy Project at Garden Island.
Australian Department of Defence & Defence Support Group
Power supply and grid connection agreements for Perth Wave Energy Project. Licence for tenure over onshore site at Garden Island.
Energy Made Clean (EMC)
Carnegie owns a 35% stake in leading Australian solar and battery company EMC. Carnegie’s CEO, Dr Michael Ottaviano, is also a Director of EMC
Sustainable Energy Authority of Ireland
Collaboration agreement & concept funding for an Irish CETO power project.
UK Natural Environmental Research Council
Partial funding of environmental research project with the Scottish Association for Marine Science.
Funding for testing and validation at University of Edinburgh’s state of the art All-Waters Combined Current and Wave Test Tank.
MAK Industrial Water Solutions
Agency agreement to act as an exclusive agent for MAK Water’s products in the South American market.
Water Corporation (Western Australia)
Desalination cooperation agreement signed, support provided for Carnegie’s wave powered seawater desalination pilot plant, co-located at the Perth Project onshore site.
Wave Energy Scotland
$4m grant to fund the development of a universal wave power take off system.
Commitment Agreement awarding CWE UK a berth for a 3+7MW CETO project at the world leading facility in Cornwall, UK.
MoU to support the development of wave and renewable microgrids
Carnegie’s strategy is to create value for its shareholders by commercialising its CETO Wave Energy Technology.
Carnegie is the global owner and technology developer of the CETO Wave Energy Technology intellectual property.
Due to its 100% ownership and control of the CETO technology, Carnegie is able to commercialise the CETO technology through a flexible combination of Build Own Operate (BOO) projects, Joint Venture (JV) projects, Original Equipment Manufacturer (OEM), Technology Licensing Agreements and Operations and Maintenance (O&M) contracts. For example Carnegie has a Joint Venture & Licence Agreement with French Government power giant EDF Energies Nouvelles.
Carnegie’s executive team and directors have considerable international experience in technology commercialisation, renewable energy and offshore engineering, providing a strong platform for future growth.
Carnegie is the largest employer in the Australian wave energy industry. Carnegie’s management, engineering and technical teams, have considerable experience in the development and commercialisation of technology across a range of research and development, technical, power utility and commercial-based industries.
Carnegie has developed a world-class competency in advancing new technological concepts, developing and testing them, initially virtually, through advanced computational analysis systems, and then via real in-sea prototyping to validate the predicted performance. Through its work at its private onshore/offshore Fremantle Wave Energy Research Facility and its Perth Wave Energy Project site of Garden Island, Western Australia, Carnegie has demonstrated the benefits of accelerated design development techniques and has built a core team of business, engineering and scientific personnel to direct and manage the development and commercialisation of CETO.
Carnegie’s unique innovation competencies include:
- idea generation and assessment;
- intellectual property management;
- design and engineering;
- computational analysis and simulation;
- prototype manufacturing and testing and;
- project development,management, approvals, construction and operation.