Carnegie Granted Milestone Payments by Australian Government

Wave energy developer Carnegie Wave Energy Limited completed the final foundation milestone and a progress milestone for the onshore plant component of the Perth Wave Energy Project with the receipt of $ 739,862 from the Western Australian State Government and $ 1,165,921 in payment claims submitted to the Australian Government.

Carnegie received $739,862 for completion of two milestones from the Western Australian State Government under its LEED Grant. The milestone payments were awarded for Carnegie’s progress on the onshore plant and the completion of the foundations for the Perth Project.

Carnegie has submitted milestone payment claims worth $1,165,921 for the completion of these milestones to the Australian Government under its grant from the Australian Renewable Energy Agency (ARENA) Emerging Renewables Program.

Carnegie Wave Energy is an Australian wave energy technology developer. Carnegie is the 100% owner and developer of the CETO Wave Energy Technology intellectual property.

Press Release, March 31, 2014

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