SKF Partnership Boosts Carnegie’s Commercialisation Hopes Amid Ocean Energy Challenges

A Strategic Industrial Partnership

Carnegie Clean Energy (ASX: CCE), a pioneer in ocean wave energy technology, has announced a significant partnership with SKF, a global leader in bearings and rotating equipment. This collaboration focuses on the design and manufacture of the Power Take-Off (PTO) system integral to Carnegie’s CETO wave energy technology, a key component in converting ocean wave motion into usable electricity.

SKF’s involvement began under a development agreement, contributing early design expertise for PTO bearings and shafts. This foundation has now evolved into a contract for SKF to manufacture three PTO units destined for deployment under the ACHIEVE Programme at the Biscay Marine Energy Platform (BiMEP) in Spain, scheduled to commence operations in 2025.

Driving Commercialisation of Wave Energy

The partnership represents a critical milestone in Carnegie’s commercialisation pathway for CETO technology. By integrating SKF’s advanced manufacturing capabilities and global industrial experience, Carnegie aims to scale its wave energy solutions with greater efficiency and reliability. SKF’s commitment to ocean energy, underscored by its role as a Lead Partner of Ocean Energy Europe, aligns well with Carnegie’s ambitions to establish CETO as a leading renewable energy technology.

Carnegie CEO Jonathan Fievez highlighted the strategic value of this alliance, noting that SKF’s precision manufacturing and production capacity are well suited to support the anticipated scale-up of CETO deployments. This collaboration not only strengthens Carnegie’s supply chain but also signals growing industrial confidence in the ocean energy sector.

European Support and Broader Implications

The ACHIEVE Programme, supported by European and regional funding initiatives including the Spanish RENMARINAS Demos and the Basque Government’s Ente Vasco de la Energia, provides a robust framework for testing and validating CETO technology in real ocean conditions. The two-year deployment at BiMEP will generate critical performance data to propel CETO towards commercial viability.

This partnership also reflects the broader momentum in Europe’s ocean energy sector, where collaborative R&D efforts like EuropeWave are driving innovation and industrialisation. SKF’s active role on the Ocean Energy Europe board and its expanding footprint in marine renewables underscore the sector’s growing appeal to established industrial players.

Looking Ahead

As Carnegie and SKF move from design to manufacturing and deployment, the success of these initial PTO units will be closely watched by investors and industry stakeholders. The collaboration exemplifies how strategic partnerships between technology developers and industrial manufacturers can accelerate the commercialisation of emerging renewable energy technologies.