Carnegie Clean Energy’s wholly owned subsidiary, CETO Wave Energy Ireland, has received two EuropeWave payments totalling €350,643, unlocked by completing several manufacturing deliverables for the ACHIEVE Programme.
The payments were received under the EuropeWave Phase 3 Contract, which supports the first deployment of Carnegie’s CETO wave energy converter (WEC) technology in Europe at the Biscay Marine Energy Platform (BiMEP) site, located in the Basque Country.
This follows the completion of deliverables related to fabrication of the buoyant actuator, mooring connectors and foundation structures.
Following receipt of this payment, CETO Wave Energy Ireland has drawn down 57% of its EuropeWave Phase 3 contract, having received €2.15 million of the €3.75 million contracted.
CETO is a fully submerged, point absorber-type wave energy technology device. A submerged buoy sits a few meters below the surface and moves with the ocean’s waves. This orbital motion drives a PTO system that converts this motion into electricity.
The unit will operate at BiMEP for two years, gathering data to validate CETO technology and advance commercialization.