Carnegie Wave Energy Limited is the owner and developer of the patented CETO wave energy technology that converts ocean swell into zero-emission renewable power and desalinated freshwater.
CETO differs from other wave technologies under development globally by being fully submerged and being able to generate power both onshore and offshore. CETO has been proven at pilot scale and is now in its commercial demonstration phase.
Carnegie has raised over $45m to fund the development of the CETO technology and employs unique rapid prototyping utilising computational simulation, wave tank testing, scaled in-ocean testing at its private Wave Energy Research Facility and onshore/offshore test site and commercial scale in-ocean testing at Garden Island, Western Australia.
CEFC’s co-finance for the company helps harness Australia’s wave energy resources and create an industry of the future with global potential.