Australian outfit Carnegie Clean Energy is continuing to progress with the development of its Ceto wave energy technology, following the company’s emergence from administration in October last year.
Carnegie said it has been completing a range of corporate activities associated with the reinstatement of the business, delivering on the Ceto technology development pathway and operating its Garden Island Microgrid asset.
Funds raised through a recapitalisation plan are supporting the development of the core Ceto technology and intellectual property, the company said.
Carnegie said it has made “notable progress on its machine learning activities, a core stream of the development pathway” and will provide a “status update on the development of the machine learning Wave Predictor in the coming weeks”.
The company will carry out tank testing in April or May at the Cantabria Coastal and Ocean Basin in Spain, after receiving funding from the Marinet2 program.
As well as Ceto, Carnegie said it is also developing non-core technology through a range of collaborative projects.
These include technologies such as novel foundation and construction solutions, quick-connect moorings and connectors and offshore cables.
It added that the Garden Island Microgrid achieved the milestone of delivering over 1000 megawatt-hours of electricity to Department of Defence on Garden Island during the final quarter of 2019.