Carnegie Wins Clean Energy Council's Innovation Award

Wave energy developer Carnegie Wave Energy Limited (ASX: CWE) is pleased to announce it was named the winner in the Innovation category at the Clean Energy Council's (CEC) industry awards night.

Carnegie was selected as the winner amongst a competitve field for its ground breaking work in the wave energy industry with the world's only currently operating, grid connected wave energy project - the Perth Wave Energy Project.

Carnegie's Commercial Manager, Rebecca Cutter, said:
"It is a great honour to receive this award against such strong competition. It is a reflection of the continuing hard work and innovative thinking from Carnegie and its partners."
The awards dinner was held last night (7/15) in Sydney as part of the Australian Clean Energy Summit.

About Carnegie

Carnegie Wave Energy Limited is an Australian, ASX-listed (ASX:CWE) wave energy technology developer. Carnegie is the 100% owner and developer of the CETO Wave Energy Technology intellectual property. Carnegie has subsidiaries established in the UK, Chile and Ireland focussed on commercial exploitation opportunities in key target markets.

About the Clean Energy Council

The Clean Energy Council (CEC) is the peak body for the clean energy industry in Australia, who help to promote awareness of the industry, through leadership and clean energy business opportunities through events, meetings, newsletters, directorates and the media. The CEC is aiming to accelerate the development and deployment of renewable energy and energy efficiency (clean energy) and to ensure at least 20 per cent of Australia's electricity is generated by renewable energy by 2020.

About CETO

The CETO system is different from other wave energy devices as it operates under water where it is safer from large storms and invisible from the shore. The technology is capable of generating power onshore or offshore depending upon the specific characteristics of a project site.

CETO technology characteristics include:

• Converts ocean wave energy into zero-emission electricity and desalinated water.
• Environmentally friendly, minimal visual impact.
• Fully-submerged in deep water, away from breaking waves and beachgoers, and unaffected by storms.

Perth Wave Energy Project ( PWEP') Fact File

PWEP is the first commercial-scale CETO grid and desalinated water connected wave energy project and currently the only operating grid connected wave project in the world.

The Perth Wave Energy Project is supported by $13.1m in Australian Government funding through the Australian Renewable Energy Agency's Emerging Renewables Program.

PWEP is supported by $7.3 million from the Government of Western Australia's Low Emissions Energy Development (LEED) Fund. This is part of a larger $10 million LEED grant, awarded to Carnegie by the Western Australian Government, to support the development of the CETO technology from concept through to completion of PWEP.

The Desalination Pilot is supported by a $1.27m AusIndustry grant from the Clean Technology Innovation Program.

Providing clean, renewable energy and potable desalinated water to Australia's largest naval base, HMAS Stirling, on Garden Island in Western Australia.