Carnegie Clean Energy Awarded €2.1 M for CETO Wave Energy Converter Deployment

Carnegie Clean Energy Awarded €2.1 M for CETO Wave Energy Converter Deployment
CETO Wave Energy Converter (Image credit: Carnegie Clean Energy Ltd)

Carnegie Clean Energy Ltd (Carnegie) is pleased to announce that its wholly owned subsidiary, Carnegie Technologies Spain, has been awarded €2.1 m for the ACHIEVE+ project by the Ente Vasco de la Energia (EVE), the Basque Energy Agency. This award complements the contract awarded by the EuropeWave Project (€3.75 m) and RENMARINAS DEMOS funding (€1.2 m) creating a total funding pool of €7.05 m for the deployment of CETO at the Biscay Marine Energy Platform (BiMEP) in the Basque Country. 

The EVE funding awarded provides targeted support for elements of the CETO deployment such as the Buoyant Actuator (BA), Mooring System, Power Take-Off (PTO), and Reinforcement Learning (RL) Controller.

In addition, this support from EVE promotes more local content in the Basque Country, enables reduced technical and financial risks associated with the ACHIEVE CETO deployment, and unlocks and accelerates commercial project opportunities by fostering investor confidence and expanding the global footprint of CETO technology.

Carnegie CEO Jonathan Fiévezstated: “We extend our gratitude to EVE for their support for the ACHIEVE+ Project, which further enhances our deployment of CETO at BiMEP. This support accelerates our technological progress and highlights the Basque Country’s dedication to renewable energy innovation and local economic prosperity. We are privileged to be able to utilize this funding to advance our CETO deployment and contribute to the EU's ambitious goals for ocean energy solutions to aid in achieving energy independence and meeting clean energy targets.”


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