Carnegie Clean Energy Ltd
0.14
AUD
-0.01
(-10.00%)
Carnegie Clean Energy Ltd
ASX:CCE
(Australian Securities Exchange)
Recent
price
0.14
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ratio
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div
yld
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ROIC.AI
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- Carnegie Clean Energy Limited develops and commercializes ocean wave energy technologies that convert ocean waves into zero-emission electricity; core offerings include the CETO technology, a fully submerged point absorber wave energy converter utilizing artificial intelligence and advanced electric machines for optimal power generation, and the MoorPower technology, a wave-powered system designed for offshore applications such as aquaculture barges to replace diesel generation with clean energy. The company operates in the renewable energy sector, targeting utility-scale wave energy conversion and offshore power solutions for global markets including Europe, Australia, the UK, Ireland, and Spain; it maintains subsidiaries such as CETO Wave Energy Ireland, Carnegie Technologies Spain, and others to support international projects. Founded in 1987 and headquartered in North Fremantle, Western Australia, the company, listed on the ASX under ticker CCE, focuses on advancing wave energy through tank testing, prototyping, and commercial deployments. Recent developments include securing an Export Growth Bond Facility with Export Finance Australia worth approximately €2.5 million to support advance payment guarantees for the ACHIEVE Programme, a key EuropeWave Pre-Commercial Procurement initiative led by its Irish subsidiary CETO Wave Energy Ireland, which successfully passed the Architecture and Technology Planning milestone and received €203,437 in funding; the company also obtained a $2.5 million loan from Ballanema Pty Ltd to bridge cashflow during ACHIEVE construction and deployment, and raised over $2.1 million from shareholders primarily to fund Europe's first CETO deployment. Carnegie extended its collaboration agreement with Hewlett Packard Enterprise to further develop reinforcement learning controllers for CETO using AI and high-performance computing, enhancing device efficiency. In 2025, the company announced plans to raise AU$3 million via a Share Purchase Plan to advance CETO and MoorPower commercialization, reported full-year earnings for the period ended June 30, 2025, and scheduled its Annual General Meeting for November 18 alongside key governance dates.