By K.Steiner-Dicks on Feb 26, 2014

The agreement was signed in London outlining how the two companies will collaborate on technology and project development with the aim of lowering the cost of generation of both wave and tidal generation. According to Carnegie, work has already begun on the first collaboration activity package.

Carnegie’s Managing Director, Dr Michael Ottaviano, said “Collaboration between developers in the marine energy space is both essential for progress to be continued to be made and inevitable as marine energy technologies and markets mature. We are delighted to be working alongside Atlantis who a leader in the tidal energy sector."

Atlantis’ Chief Executive Officer, Mr Tim Cornelius, said “There are numerous synergies, both technical and commercial, that exist between wave and tidal power development and we look forward to working with Carnegie whose CETO technology is a truly unique approach in the wave energy space.”

The collaboration agreement anticipates a number of opportunities for collaboration. Both wave and tidal power involve in the design, development and manufacture of industrial scale

equipment and its deployment and operation into harsh ocean environments.

An initial study is underway focused on the electrical architecture of the commercial CETO project.

Carnegie Wave Energy is the ASX-listed inventor, owner and developer of the patented CETO wave energy technology that converts ocean swell into zero-emission renewable power and desalinated freshwater.

Carnegie has raised over $45m to fund the development of the CETO technology and has rapid prototyping with computational simulation, wave tank testing, scaled in-ocean testing at its private Wave Energy Research Facility and an onshore/offshore test site and commercial scale in-ocean testing at Garden Island, Western Australia.