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WRITTEN BY Maddison Elliott

Carnegie subsidiary receives milestone payments

Carnegie Clean Energy’s (ASX:CCE) wholly owned subsidiary CETO Wave Energy Ireland has received two milestone payments from EuropeWave. 

The two payments total €350,643 ($612,188), received on the completion of deliverables for the buoyant actuator, mooring connectors, and foundation structures. 

This contract with EuropeWave supports the first deployment of Carnegie’s CETO technology in Europe at the Biscay Marine Energy Platform site in Basque Country.

CETO Wave Energy has now drawn down 46% of its phase three contract with EuropeWave.

The total contract is valued at €3.75 million, with CETO Wave Energy having received €1.74 million to date. 

Carnegie Clean Energy is a technology developer focused on delivering ocean energy technologies to make the world more sustainable.

Write to Maddison Elliott at Mining.com.au   

Images: Carnegie Clean Energy
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Written By Maddison Elliott
Maddison holds a Bachelor of Communication and Journalism, a Bachelor of Business, and a Master of Writing, Editing and Publishing. She enjoys transforming complex information into clear, engaging stories that inform, educate, and connect with readers. Outside of the newsroom, Maddison spends her time reading, exploring new places, catching a game, or spending time with friends and family.

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