Carnegie Clean Energy launches a $3 million Share Purchase Plan at a 20% discount to fund its pioneering 6 MW CETO wave energy project in Spain and expand its global footprint.
- Share Purchase Plan priced at 5.7 cents per share, 20% below market
- Funds targeted for 6 MW CETO wave energy array development at BiMEP, Spain
- Support for MoorPower commercial pilot and ACHIEVE Programme operations
- Business development efforts in Europe, US, and Australia to accelerate growth
- Offer open from 15 August to 8 September 2025, with investment parcels from $1,000
Carnegie’s Strategic Capital Raise
Carnegie Clean Energy Limited (ASX – CCE) has announced a $3 million Share Purchase Plan (SPP) priced at 5.7 cents per share, representing a notable 20% discount to the recent market average. This capital raise is designed to accelerate the commercialisation of its wave energy technologies, with a particular focus on the development of a 6 MW CETO wave energy array at the Biscay Marine Energy Platform (BiMEP) in Spain.
The SPP opens on 15 August and closes on 8 September 2025, allowing existing shareholders to invest between $1,000 and $30,000. The company has also indicated capacity to accept oversubscriptions, signalling confidence in strong shareholder demand.
Funding Key Commercial Milestones
The proceeds will primarily support several pivotal initiatives – the deployment and operation of the ACHIEVE Programme’s first grid-connected CETO unit at BiMEP; advancing the 6 MW multi-megawatt CETO array project under a recent memorandum of understanding; and the MoorPower commercial pilot, which aims to deliver wave energy solutions for aquaculture feed barges.
Additionally, funds will bolster Carnegie’s business development activities across Europe, the United States, and Australia, as well as provide working capital to sustain ongoing operations. These efforts align with the company’s broader ambition to establish wave energy as a viable and scalable renewable energy source.
Market Context and Industry Outlook
Carnegie’s CEO Jonathan Fievez highlighted the growing interest in underwater wave energy as a complementary clean energy source, especially in regions like Europe where the EU targets 1 GW of ocean energy by 2030 and 40 GW by 2050. The recent investor roadshows in Germany, the US, and Europe have underscored the market’s appetite for innovative renewable technologies that operate out of sight yet offer significant energy potential.
Chairman Anthony Shields emphasized the company’s technological progress and the expanding addressable market, noting that ocean energy is attracting increasing private and government funding. Carnegie’s strategy to validate its technology through the ACHIEVE Programme and scale via the BiMEP array positions it well to capture emerging opportunities in the renewable energy sector.
Shareholder Participation and Next Steps
Eligible shareholders as of 5 – 00pm AWST on 11 August 2025 can participate in the SPP, with detailed offer documents to be distributed shortly. The company’s transparent approach to pricing and clear allocation of funds towards commercialisation milestones reflects a disciplined capital management strategy aimed at delivering shareholder value.
As Carnegie moves closer to deploying its wave energy technologies at scale, the market will be watching closely for subscription results and progress updates on the BiMEP project and MoorPower pilot, which could serve as important validation points for the company’s growth trajectory.
Bottom Line?
Carnegie’s $3 million capital raise sets the stage for a critical phase in wave energy commercialisation, with investor confidence hinging on successful project execution.
Questions in the middle?
- Will the SPP attract strong shareholder uptake and potential oversubscriptions?
- How soon can Carnegie demonstrate commercial viability from the BiMEP 6 MW array?
- What partnerships or contracts might emerge from expanded business development efforts?