1. Carnegie has been around since at least 1993. Their latest name change was from Carnegie Wave Engery (ASX: CWE) to Carnegie Clean Energy (ASX: CCE) when they aquired EMC in early 2017.
2. Around the time of Ceto 5 deployment in 2015 Carnegie used to use the "$100 million over 10 years" for the to-date investment in Ceto (shareholders money plus WA state and federal Australian government grants). Since then there's been 3 (I think, 4 maybe?) CRs plus who knows what additional government money. The $15.8 million or whatever number it morphed into from the WA govt for Albany is not in hand yet.
3. Carnegie's crowning achievement during the whole development of Ceto to date was the deployment of Ceto 5 at Garden Island. 3 units were in the water for about a year. However the giant, giant, GIANT problem was that during the whole year it was deployed and in the time since they were (initially without announcement) decommissioned Carnegie has never released any performance data. Instead we learned, first by accident and then as a grudging admission, that performace was not great, about 18 months after decommissioning.
4. Not really. Ceto 5 was grid connected, and supposedly generated income, but it was either not enough to be reported by Carnegie or they just didn't bother reporting it. It was a essentially a developmental prototype, not really meant to generate income. Ceto 6 is supposed to be different, as it has been claimed for years to be the "commercial" product.
CCE Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
