Carnegie Gets Funds for Two Progress Milestones

Wave energy developer Carnegie Wave Energy Limited announces the completion of two progress milestones for the foundation and pipeline components of the Perth Wave Energy Project with the receipt of $637,199 from the Western Australian State Government and $867,165 in payment claims submitted to the Australian Government.

Carnegie received $637,199 for completion of two milestones from the Western Australian State Government under its LEED Grant. The milestone payments were awarded for Carnegie’s progress on the mobilisation of the foundation installation vessel and progress on the pipeline components.

Carnegie has submitted milestone payment claims worth $867,165 for the completion of these milestones to the Australian Government under its grant from the Australian Renewable Energy Agency (ARENA) Emerging Renewables Program.

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Press Release, December 20, 2013