Carnegie Focuses on Perth Wave Energy Project in Q1

Carnegie Wave Energy Limited (CWE) released its quarterly report, highlighting successful project and financial activities.

During the quarter Carnegie Wave Energy Limited focused primarily on its Perth Wave Energy Project (the Perth Project) with the completion of the foundation and pipeline installation, delivery of the buoyant actuators and other CETO Unit components, commencement of assembly and testing phase and delivery of the desalination plant.

Carnegie also progressed the CETO 6 Project including signing a $20 million debt facility and completing a $9.35 million equity capital raise to fund the Project.

Highlights from the quarter include:
– Completed offshore foundation;
– Completed offshore to onshore pipeline installation;
– Buoyant Actuators received and unveiled by the Australian Federal Energy Minister;
– CETO Unit assembly and onshore testing phase commenced;
– Desalination Plant delivered to Garden Island;
– Received grant funding payments of $2.7m for the Perth Project during the quarter and an additional $2.3m in government grant payments received in April;
– Received $1m cash royalty payment for Carnegie owned gold mining royalty;
– Revealed the CETO 6 1MW CETO Unit Design;
– Signed a $20m loan facility with the Clean Energy Finance Corporation (CEFC) for CETO 6;
– Completed $9.35m equity capital raise for the CETO 6 Project design and development;
– Awarded a CETO 6 site at the government funded WaveHub in the UK.

Press Release, May 01, 2014

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

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  3. ​Understanding HPHT well intervention (systems)
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  5. Best practice riserless well intervention
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For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

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