Carnegie Clean Energy

About

Carnegie Wave Energy operates CETO wave-energy systems using submerged, seabed‑tethered buoys to convert ocean swell into grid-connected electricity and desalinated freshwater, deploying larger CETO 6 units for offshore deep-water sites.

Mission

Carnegie Wave Energy (ASX:CWE) is the inventor, owner and developer of the patented CETO technology that converts ocean swell into zero-emission renewable power and desalinated freshwater. Its CETO units are large, fully submerged buoys tethered to the ocean floor; the CETO 6 design increases unit size and is expected to produce up to 1MW per unit—about four times the capacity of CETO 5. The CETO 6 project will deploy three units off Garden Island, WA to generate up to 3MW of grid-connected power for the HMAS Stirling Navy base under an existing power supply agreement. CETO 6 is designed for offshore/deep-water operation and is expected to deliver energy at approximately half the cost of CETO 5, improving competitiveness with fossil fuels in certain markets when deployed at scale. ARENA announced $11 million in funding to support the CETO 6 project and Carnegie also has a five-year, $20 million loan facility from the Clean Energy Finance Corporation to back the $46 million project. Carnegie has raised approximately $70 million over 10 years to fund development and uses rapid prototyping, computational simulation, wave tank testing and in-ocean trials at its research and test facilities.

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