Carnegie Clean Energy has made significant strides in its wave energy technology, progressing the ACHIEVE Programme and launching a €4 million EU-funded project to reduce costs, while securing a prestigious Defence innovation award.
- ACHIEVE Programme CETO unit nears deployment at Basque Marine Energy Platform
- €4 million EU-funded COIN Project begins to cut wave energy costs by 30%
- Power and Energy Innovation Award won at Australian Defence ASCA Pitch Day
- MoorPower commercial pilot design advances for aquaculture decarbonisation
- Cash reserves stand at AUD 3.955 million with milestone payments supporting operations
Progress on ACHIEVE Programme and CETO Technology
Carnegie Clean Energy has reported steady progress in the final quarter of 2025, particularly with its ACHIEVE Programme, which focuses on deploying the company’s proprietary CETO wave energy converter at the Biscay Marine Energy Platform (BiMEP) in Spain. The project has moved from component fabrication to integrated assembly and onshore testing, with key elements like electrical modules and dynamic cables nearing completion. The partnership with SKF, a precision manufacturing leader, is pivotal for assembling the power take-off system, which will undergo rigorous testing before offshore installation.
Launching the COIN Project to Drive Cost Reduction
In a major boost for wave energy commercialisation, Carnegie has commenced the €4 million COIN (Control Oriented Innovations) Project, funded by the European Union. This initiative aims to reduce the cost of energy from wave farms by 30%, leveraging advanced control systems, quick-connector technology, and digital twin health monitoring. The consortium includes prominent partners such as Hewlett Packard Enterprise and Politecnico di Torino, reflecting a collaborative approach to overcoming technical and economic barriers in wave energy deployment.
Recognition from Australian Defence Sector
Carnegie’s wave energy technology has garnered significant recognition, winning the Power and Energy Innovation Award at the Australian Department of Defence’s ASCA Pitch Day 2025. The company’s 'Energy Autonomy at Sea' solution demonstrated how wave energy can provide reliable, renewable power for offshore defence applications, addressing the Australian Defence Force’s need for agile and sovereign energy sources. This accolade not only highlights Carnegie’s technological capabilities but also opens doors to strategic defence market opportunities.
Advancing MoorPower for Blue Economy Applications
Alongside CETO, Carnegie is advancing its MoorPower technology, designed to decarbonise offshore operations such as aquaculture. The company is completing preliminary designs for a commercial-scale MoorPower unit, building on successful scaled demonstrator tests. Real-world data from aquaculture feed barges in Tasmania has enhanced performance modelling, positioning MoorPower as a practical solution to replace diesel generators and reduce carbon emissions in marine industries.
Financial Position and Strategic Partnerships
Financially, Carnegie ended the quarter with approximately AUD 3.955 million in cash reserves, supported by milestone payments from the EuropeWave Programme and the sale of Basque R&D tax credits. The company continues to strengthen its European partnerships, engaging with regional governments and industry clusters to support its technology deployment. These collaborations are critical as Carnegie navigates the path from prototype testing to commercial-scale wave energy solutions.
Bottom Line?
With technology milestones and strategic awards secured, Carnegie is poised to deepen its market impact, but the journey to commercial viability remains closely watched.
Questions in the middle?
- How will the COIN Project’s innovations translate into commercial-scale cost savings?
- What timelines are expected for full offshore deployment and grid integration of the ACHIEVE CETO unit?
- How significant could the defence sector become as a market for Carnegie’s wave energy technologies?