Category: News

Carnegie Clean Energy Ltd (ASX: CCE) is pleased to announce the successful award of €45,238 in funding to its wholly owned subsidiary, CETO Wave Energy Ireland (CWEI), for its integral role as an industry partner in the WECHULL+ Project. This initiative, led by the Research Institute of Sweden (RISE), is dedicated to the investigation and testing of an innovative concrete material specifically tailored for application in wave energy converters (WECs).

The project, funded by the Sustainable Energy Authority Ireland (SEAI) under the European Clean Energy Transition Partnership (CETP), brings together a consortium of European entities, including Delft University of Technology (Netherlands), Ocean Harvesting Technologies (Sweden), Gdansk University of Technology (Poland), SolarDuck (Netherlands), Plataforma Oceánica de Canarias (Spain), Pekebex (Poland), and CWEI. The collaboration seeks to minimize the environmental impact of materials, enhance WEC hull manufacturing, scale up production, and reduce costs.

RISE will lead the consortium, which will leverage the technical and research expertise of all partners, with CWEI offering both funded and in-kind support. CWEI has signed the Funding Agreement with SEAI and the Consortium Agreement with the WECHULL+ Consortium, marking the official commencement of the project.

CWEI’s funding will empower the subsidiary to provide technical advice based on the application of the novel concrete material to CETO technology. The project will be instrumental in developing alternative materials for future deployments of CETO, Carnegie’s proprietary wave energy converter.

“A CETO buoy made of concrete rather than steel has the potential to be cheaper, easier to manufacture in remote locations, require zero maintenance and last longer than the life of the project. We are excited about the opportunity to contribute to the WECHULL+ Project which will work toward these outcomes with a novel, sustainable concrete”  – Jonathan Fiévez, CEO

This strategic initiative aligns with Carnegie Clean Energy’s commitment to advancing ocean energy technologies and underscores its position as a leader in sustainable energy solutions.

To view the full ASX announcement click the following link: https://www.carnegiece.com/wp-content/uploads/2023/12/231214-ASX-CCE-WECHULL-Award.pdf

Carnegie, via its wholly owned subsidiary, CETO Wave Energy Ireland Limited, has been selected as 1 of 3 contractors to deliver Phase 3 of the EuropeWave Pre-Commercial Procurement (PCP) Programme. The Phase 3 EuropeWave contract, subject to final execution, engages CWEI to build and operate a CETO wave energy prototype at a European wave energy test site. The EuropeWave PCP Programme is a competitive programme designed to advance promising wave energy converter systems and prove technical and commercial viability for large scale deployment.

Projects were judged against main technical challenges of performance, reliability, availability and survivability. Out of all participants, CETO Wave Energy Ireland was ranked number 1, judged against these key criteria. Having been ranked first, CWEI received first choice of deployment site. The team has selected a berth best suited to the CETO project at the open-water facilities of the Biscay Marine Energy Platform (BiMEP) in the Basque Country, Spain. The project, known as ACHIEVE, will run from September 2023 to May 2026 with CETO deployed from 2025.

About EuropeWave

EuropeWave PCP is an innovative and competitive stage-gate programme designed to advance promising wave energy converter systems to a point from which they can be developed for commercial exploitation through other national/regional programmes and/or private investment.

With almost €20 million in funding for the 3 phases of the programme, the EuropeWave PCP is a collaboration between Wave Energy Scotland (WES), a subsidiary of the Scottish Government’s Highlands and Islands Enterprise, and the Basque Energy Agency (EVE).

Carnegie’s CEO Jonathan Fievez has featured in the ausbiz small caps segment with host David Koch to talk about the company’s recent contract award for Phase 2 of the EuropeWave program.

Tune in from just after 12 minutes for the segment. Click here to watch.

Carnegie, via its wholly owned subsidiary, CETO Wave Energy Ireland Limited, has been selected as 1 of 5 contractors to deliver Phase 2 of the €20m EuropeWave Pre-Commercial Procurement (PCP) Programme, a competitive programme to advance wave energy.

This follows the competitive selection and successful performance of CETO in Phase 1 of the programme.

CETO Wave Energy Ireland Limited was selected alongside four other companies, out of the initial seven that delivered Phase 1, to deliver Phase 2 of the programme.

Phase 2 includes Front End Engineering Design (FEED), wave tank testing, power take off component testing and related certification and commercialisation activities. Phase 2 will run from the end of September 2022 to June 2023.

Rigorous evaluations were carried out to progressively select the best of the competing solutions. This selection shows the potential for the CETO technology to be a frontrunner in the European wave energy space. Positive feedback was received in areas such as the techno-economic optimisation, approach to system performance, advanced control, levelised cost of energy (LCOE) mod modelling and forecasts, proposed activities, risk management and a strong and capable project team.

Phase 2 follows Concept Development in Phase 1, which delivered substantial progress in advancing the CETO prototype design and validation work through tank testing in Spain.

Following the completion of Phase 2, three of the five companies will be selected on competitive basis to continue to the final Phase 3, which includes deployment in open sea conditions at the Biscay Marine Energy Platform (BiMEP) in the Basque Country or the European Marine Energy Centre (EMEC) in Scotland. The final phase is expected to start in September 2023 and conclude in May 2026.

About Phase 2

Under the Phase 2 contract, the team will complete various development and testing activities which progress CETO towards a potential European prototype deployment in Phase 3. This includes activities such as: Front End Engineering Design (FEED), Numerical Modelling, Power Take-Off Testing, Tank Testing, Operational Planning, Commercial Analysis and progressing the Certification Pathway with DNV.

A wave tank testing campaign will be undertaken at the Cantabria Coastal and Ocean Basin (CCOB) in Spain in early 2023. The tests will build on previous tank testing undertaken during Phase 1 and will validate the performance of CETO’s advanced controllers and confirm a novel survival strategy, key advantages of the CETO technology.

A Power Take-Off (PTO) bench testing campaign will occur in early 2023 and will validate the fatigue life of the belt and characterise the efficiency and reliability of the PTO drive train, controller and electrical system. This work will be done in collaboration with the IMPACT project, which is developing test rigs that will be utilised by the team. Carnegie will retain ownership of the intellectual property rights (IPRs) generated during the PCP Programme and will be able to use the IP to exploit the full market potential of the developed solutions.

About EuropeWave

EuropeWave PCP is an innovative and competitive stage-gate programme designed to advance promising wave energy converter systems to a point from which they can be developed for commercial exploitation through other national/regional programmes and/or private investment.

With almost €20 million in funding for the 3 phases of the programme, the EuropeWave PCP is a collaboration between Wave Energy Scotland (WES), a subsidiary of the Scottish Government’s Highlands and Islands Enterprise, and the Basque Energy Agency (EVE).

Carnegie was up on the big screen at HPE Discover 2022 this week, one of the biggest conferences in the technology calendar.

Click here to watch HPE’s Paolo Faraboschi talk about the work we are doing to revolutionise wave power with AI.

The three-day conference was held in Las Vegas, Nevada 28-30 June.

Carnegie held a place on the conference floor, showcasing the work being done under its collaboration agreement with Hewlett Packard Enterprises on Reinforcement Learning-based controllers.

CETO was on display in the interactive HPE wave tank, demonstrating its ability to adapt and operate in different wave conditions.

Carnegie also featured in a technical break-out session: ‘Carnegie Clean Energy and Hewlett Packard Labs Revolutionizing Wave Power with Trustworthy AI’.

Hewlett Packard Enterprises recognises that the complex nature of waves and the extremes of an ocean environment make designing an optimum energy-capture device a complex challenge.

Ocean waves carry enormous supplies of consistent clean energy and with reinforcement learning-based AI, CETO can optimally extract energy from each and every wave.

Together with HPE, we are using their supercomputers to study the rhythms of nature, and how they could unlock unlimited supplies of clean energy.

Carnegie is pleased to announce that its Digital Development Pathway has achieved its commercial target, through the cost and performance improvements of CETO.

These improvements have reduced CETO’s timeframe to commercialisation, making its pathway comparable to the historical progression of solar PV and offshore wind.

The completion of the Digital Development Pathway signals the escalation of commercialisation activities.

This is a key milestone and showcases how, with deployment, wave energy can become a commercially competitive and widely adopted technology.

The work undertaken has delivered a step change improvement in cost and performance which will place CETO in a strong position on the industry pathway to provide commercially attractive offerings to customers. Carnegie has been able to deliver up to a 30% increase in simulated energy capture performance with its industry partners, alongside projected improvements in reliability and operational efficiency.

The work conducted is expected to accelerate the uptake of CETO over the coming years by bringing the technology down the cost curve sooner, making it increasingly attractive to global markets.

As the technology progresses along its commercialisation pathway, and the cost of energy decreases further, Carnegie envisages the addressable market for wave energy to expand, creating a growing adoption curve previously seen in the solar PV and offshore wind market expansions.

Read the full ASX Announcement for more information.