I'll just add IMO POW and CWE (soon to be CCE - Carnegie Clean Energy if approved by sh's) have never really been competitors - in the sense that Protean is a small scale wec whereas Ceto6 is a large scale wec.
So they serve different markets - e.g. if you looked at the Maldives, Ceto6 might possibly service the city of Male where the high capital expense in setup may be justified due to population density and demand, whereas Protean is ideal for all the small tourist islands (literally thousands of them) within the greater archipelago. (Note : this is purely speculation on my part to illustrate my point about scale differences etc)
We have seen iterative changes in Protean (to enhance output, resilience, positioning of the PTO's) whilst the iterative changes over at CWE have led to an even larger wec than before (was Ceto5) with an internalized power take off unit rather than transporting kinetic energy to the shoreline as both previously proposed (via air or fluids).
In my view, the challenging laws of energy conservation and physics are behind these changes, in the same way that solar PV and batteries have been evolving (silicon vs perovskite, lithium ion vs flow etc.).
In any event, putting wec's to one side, similar to POW, Carnegie are re-adjusting and expanding their reach into this enormous field of renewables and energy decentralization.
In particular, they have recently 100 % acquired EMC (Energy Made Clean) which makes them directly a micro-grid supplier of the future.
Thinking a little laterally here then, CWE might even become a potential client of POW and vice versa, as they are both embracing the same technological evolution in slightly different ways - i.e. micro-grids need batteries to accompany solar and other renewables, and a pure energy player like POW will need to partner with a micro-grid supplier to create networks - particularly in remote locations.
Overall, I view this ann. as positive - but understand other's frustration about pace etc.
Unquestionably though, there are fantastic opportunities here as we all have to tackle climate change and need smart technological solutions.
Cheers BC
(disclosure - only hold POW in this space, but follow CWE, RFX, SLX and other related listings on ASX closely)
POW Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
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