EuropeWave Contract Progress Payment Received

Source: www.gulfoilandgas.com 8/30/2024, Location: Europe

Carnegie Clean Energy Limited(“Carnegie” or the “Company”) is pleased to announce that its wholly owned subsidiary CETO Wave Energy Ireland has received a progress payment of €251,100 (approximately $411,500 AUD) under its EuropeWave Phase 3 Contract. The EuropeWave contract forms part of the Company’s ACHIEVE Programme, delivering the first deployment of CETO in Europe.

This contractual payment was received following the EuropeWave Buyers Group’s review and acceptance of a Project deliverable related to the award of over €1 million in procurement contracts for key CETO components. This represents the increasing depth of the supply chain engaged in the ACHIEVE Programme and marks ongoing progress being made towards the deployment CETO at the Biscay Marine Energy Platform (BiMEP) site in the Basque Country.

Initial ACHIEVE procurement contracts have been awarded for several key components of the CETO system to be deployed at BiMEP. This includes, for example, mooring connectors from Quoceant Ltd, inverters from SEI S.L and generators from Oswald Elektromotoren GmbH. Committing to the procurement and fabrication of CETO components is an exciting step towards the ACHIEVE deployment and has involved significant supply chain engagement.

This announcement has been authorised by the Chairman and CEO


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