ocean energy

ACHIEVE passes EuropeWave Authorization to Proceed

Carnegie Clean Energy announced that its wholly owned subsidiary, CETO Wave Energy Ireland (CWEI), has successfully passed the EuropeWave Authorization to Proceed milestone as part of its EuropeWave ACHIEVE Contract.
ACHIEVE passes EuropeWave Authorization to Proceed
Courtesy of CETO Wave Energy

The ACHIEVE Project deploys a CETO prototype which integrates new innovative technologies with a focus on optimizing performance. Work to date provides step change improvements while retaining compelling features such as fully submerged operation which minimizes visual impact and offers inherent protection from breaking waves and extreme storms.

The CETO prototype will capture nearly twice as much energy as the previously deployed design. With three taught connections to seabed, CETO captures energy from all primary wave forces. Advanced control, including AI, further optimizes capture and survivability through dynamic adjustment of CETO's position and angle in the water column.

Converting the linear motion of the CETO buoy into electricity is the new electric rotary Power Take-Off. Operating like a futuristic winch, this system resists the motion of the buoy and in doing so, generates clean, renewable electricity at higher efficiencies than ever before.

ACHIEVE unlocks commercial opportunities for CETO in Europe and globally where wave energy can contribute to the renewable energy mix required to achieve a just transition to a climate neutral economy.

As part of the ATP milestone, CWEI submitted detailed documents covering financial, technical, safety, regulatory, and testing aspects. These have been reviewed by the EuropeWave Buyers Group to determine whether it was ready to proceed to the next stage of contract delivery and marks another successful step towards the deployment of CETO at BiMEP as part of the ACHIEVE Program.

The successful achievement of the ATP milestone marks the start of a transition over the coming months from planning and design into procurement. With the EuropeWave Authorization to Proceed granted, the team will begin awarding contracts for the fabrication and procurement of long lead items. Passing the ATP milestone also unlocks a EuropeWave milestone payment of approximately €168k which can now be invoiced.

Miguel Santos Herrán,the ACHIEVE Project Manager, said,"Passing the Authorization to Proceed milestone of the EuropeWave contract is a testament to the team's hard work and vision for the ACHIEVE Program, which will be a key strategic step in CETO's commercialization journey. For us, this is an exciting green light. We keep taking important stepstowardsbeing grid connected and generating renewableelectricity from waves inthe Basque Country."

Carnegie Clean Energy CEO, Jonathan Fievez added that "We're grateful to EuropeWave and our Spanish and Basque fundersfor their critical support for the CETOtechnology and our mission to bring wave energy to the world.This is an exciting time for our people and the partners that have supported us along thewayand a great opportunity for strategic partners whowould like to join us on the journey."

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