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Carnegie Clean Energy Ltd ( (AU:CCE) ) has shared an announcement.
Carnegie Clean Energy’s subsidiary, Carnegie Technologies Spain, has received a pre-financing payment for its participation in the COIN Project, a €4 million initiative funded by the European Commission. The project aims to enhance the reliability and sustainability of wave energy farms through innovations like AI-enhanced wave prediction and health monitoring systems, using Carnegie’s CETO technology as the testing platform. This initiative is expected to reduce the cost of wave energy significantly and provides a strategic advantage for Carnegie’s commercial unit design and commercialization pathway without requiring cash contributions from the company.
The most recent analyst rating on (AU:CCE) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Carnegie Clean Energy Ltd stock, see the AU:CCE Stock Forecast page.
More about Carnegie Clean Energy Ltd
Carnegie Clean Energy (ASX: CCE) is a technology developer focused on delivering ocean energy technologies to make the world more sustainable. It owns and develops the CETO® and MoorPower® technologies, which capture energy from ocean waves and convert it into electricity. The company utilizes advances in artificial intelligence and electric machines to optimize control and generate electricity efficiently, with a history of world-leading developments in ocean energy.
YTD Price Performance: 97.22%
Average Trading Volume: 625,349
Technical Sentiment Signal: Sell
Current Market Cap: A$28.95M
For a thorough assessment of CCE stock, go to TipRanks’ Stock Analysis page.