Carnegie Clean Energy Advances CETO Deployment with Milestone Payment

Story Highlights
  • Carnegie Clean Energy focuses on ocean energy technologies for sustainability.
  • Carnegie received a milestone payment for its CETO project in Spain, advancing its commercialisation.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Carnegie Clean Energy Advances CETO Deployment with Milestone Payment

Carnegie Clean Energy Ltd ( (AU:CCE) ) just unveiled an announcement.

Carnegie Clean Energy Limited announced that its subsidiary, Carnegie Technologies Spain, has received a milestone payment of €317,945 from the Basque Energy Agency for its ACHIEVE+ Project. This project is part of Carnegie’s broader ACHIEVE Programme, which involves deploying the CETO technology at the Biscay Marine Energy Platform in Spain. The payment was facilitated by Export Finance Australia and marks the commencement of work under the ACHIEVE+ contract. This initiative is a significant step in the commercialisation of CETO technology, aiming to validate its performance over a two-year deployment.

More about Carnegie Clean Energy Ltd

Carnegie Clean Energy (ASX: CCE) is a technology developer focused on delivering ocean energy technologies to promote sustainability. The company owns and develops CETO® and MoorPower® technologies, which harness ocean wave energy to generate electricity. Carnegie leverages artificial intelligence and electric machines to optimize energy generation and has a strong history in ocean energy innovations.

YTD Price Performance: -16.00%

Average Trading Volume: 100,407

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: $8.29M

For a thorough assessment of CCE stock, go to TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App