Carnegie Wave Energy (ASX: CWE) should firm in trade today after two successful funding applications in the U.K. to support technology development of commercial wave-to-energy CETO projects.
Carnegie recently won European Union funding from the MARINETs Transnational Access initiative to support wave tank testing and validation of its next generation CETO 6 technology.
Through its U.K. subsidiary, CETO 6 will be tested at the University of Edinburgh’s All-Waters Combined Current and Wave Test Facility.
The facility is capable of producing wave and current conditions in a controlled environment that are similar to open oceans with 28 metre waves and currents up to 6 metres per second.
This allows Carnegie to simulate, in hours or days, conditions that would take years at sea, thereby accelerating CETO6 technology development whilst ensuring high standards of engineering.
Carnegie has also partnered with the Scottish Association for Marine Science to undertake a project to better understand environmental risks and benefits of deploying renewable energy arrays in the marine environment.
The project will leverage off Carnegie's Perth Wave Energy Project, a world first grid connected CETO array currently under construction in Western Australia and due for commissioning in mid-2014.
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