Carnegie Wave Energy Limited is an Australian company focused on the global commercialisation of its 100% owned CETO Wave Energy Technology. Named after the Greek sea goddess, CETO is a unique, fully submerged wave power system capable of producing renewable power and directly desalinated freshwater from the oceans waves. It harnesses the oceans consistent energy to produce zero-emission power and desalinated water onshore. Developed over ten years at a cost of $35 million, it has been successfully proven at a 1/3 pilot scale. The technology is now in the commercial scale demonstration phase at Garden Island, Western Australia.

Carnegie’s first international project is a joint venture with EDF Energies Nouvelles on Reunion Island. It will receive a €220/MWh feed in tariff, and Stage 1 is already 70% funded by the French Government. Carnegie’s commercial team has developed a strategic project pipeline and has been awarded over $20 million in funding.