Carnegie Clean Energy

Carnegie Clean Energy Limited is an Australian-based, publicly traded company (ASX: CCE) focused on the development and commercialization of ocean energy technologies. Incorporated in 1987, the firm has evolved to become a specialist in capturing energy from ocean waves to produce zero-emission electricity.

The company's history spans over a decade of dedicated development, including extensive tank testing and both small-scale and commercial-scale in-ocean prototype deployments. A significant milestone was the connection of its CETO 5 production installation to the grid in Fremantle, Western Australia, in early 2015. The company is led by CEO Jonathan Fiévez, a mechatronic engineer who has been with Carnegie since 2008. Initially the Chief Technology Officer, Fiévez was instrumental in scaling the CETO technology and is a named inventor on several of its patents. His background in engineering, including developing structural monitoring technology for the aerospace industry, and his personal passion for ocean sports, align with his role in commercializing marine energy.

Carnegie's core business revolves around its proprietary CETO technology, named after a Greek sea goddess. CETO is a fully submerged, point-absorber wave energy converter; a buoy placed below the ocean's surface moves with the waves, driving a power take-off (PTO) system to generate electricity. This submerged design offers the benefit of having no visual impact from the shore and provides survivability in storm conditions. The company is advancing its technology by integrating artificial intelligence and machine learning to optimize control and enhance efficiency. A derivative product, MoorPower, applies the core CETO technology to provide power for offshore moored vessels, such as those in the aquaculture industry, aiming to reduce their reliance on diesel generators.

Carnegie's business model focuses on project development and technology deployment, often through strategic collaborations and government-backed initiatives. The company operates internationally, with subsidiaries in Ireland, Spain, and the US, targeting key renewable energy markets. A major focus is the EuropeWave programme, which involves deploying a CETO prototype at the Biscay Marine Energy Platform (BiMEP) in Spain, with deployment scheduled for 2025. This project is supported by substantial EU funding and aims to help meet Europe's ambitious ocean energy targets. The company also explores opportunities in the United States and has formed partnerships with entities like SKF for manufacturing and Huon Aquaculture for its MoorPower technology.

Keywords: wave energy, CETO technology, renewable energy, ocean power, submerged wave energy converter, MoorPower, power take-off system, marine energy, clean technology, decarbonization, project development, utility-scale, offshore energy, Jonathan Fiévez, Australian renewable energy, EuropeWave, Biscay Marine Energy Platform, point absorber, grid integration, sustainable energy, aquaculture power