Carnegie raising oversubscribed
Wednesday, 23 April, 2014 - 11:23
Carnegie Wave Energy has completed an oversubscribed $9 million capital raising as it continues development of its CETO 6 wave power technology.
Dr Michael Ottaviano was appointed managing director of Carnegie Wave Energy in March 2007 after joining the company's board in September 2006 as chief executive.
He has also been a board member of the Clean Energy Council, Australia’s clean energy peak industry group; and a member of the Australian Government’s Energy White Paper High Level Consultative Committee.
Rank | Company | # | |
---|---|---|---|
171st | Carnegie Clean Energy | $386.30k | |
173rd | 333D | $287.62k | |
174th | Ultima United | $285.88k | |
175th | Aurora Labs | $174.25k | |
176th | Blossomvale Holdings | $163.00k |
Rank | Company | 1 Yr | 5 Yr |
---|---|---|---|
1238th | Agrimin">Agrimin | -30.12% | -17.18% |
1239th | 1414 Degrees">1414 Degrees | -30.39% | -30.29% |
1240th | Carnegie Clean Energy">Carnegie Clean Energy | -30.77% | -6.11% |
1241st | Dalaroo Metals">Dalaroo Metals | -30.82% | 0% |
1242nd | ACDC Metals">ACDC Metals | -30.98% | 0% |
Carnegie Wave Energy has completed an oversubscribed $9 million capital raising as it continues development of its CETO 6 wave power technology.
Seventeen Western Australian business people have been nominated as finalists in the 2014 round of the EY Entrepreneur Of The Year award.
Fremantle-based firm Carnegie Wave Energy has been awarded an $11 million federal government grant to support its next CETO power wave project.
In the third part of our series featuring EY Entrepreneur of the Year nominees, Business News talks to three chief executives in the technology sector.
Carnegie Wave Energy chief executive officer Michael Ottaviano and Northern Star Resources boss Bill Beament were among the winners of the EY Entrepreneur of the Year western region awards.
Fremantle-based Carnegie Wave Energy has celebrated the installation of its first CETO 5 wave technology unit off Garden Island, marking the start of its $30 million wave energy project.
Carnegie Wave Energy has switched on its innovative CETO power plant, which will provide renewable electricity to the HMAS Stirling naval base on Garden Island.
A wearable technology company founded by Perth entrepreneur Justin Miller and an Israeli medical cannabis company are the latest businesses planning to join the rush of backdoor listings on the ASX, though the news is not all positive with Voyager Global Group becoming the seventh company forced to cancel an announced deal in the past 18 months.
WA has become a leader in wave energy, but commercial realities loom as a major constraint to rolling out the technology to the national electricity market.
Carnegie Wave Energy's international growth has been boosted after the Scottish government awarded the Perth-based company a $4.3 million grant to develop a wave energy power conversion system.
WA’s natural wave resources have made it home to three energy companies that have taken a collegial approach to developing the new technology.
Wave technology companies Stonehenge Metals and Carnegie Wave Energy have released details of their plans to raise up to a combined $7.5 million.
Perth-based wearable technology company Nuheara has enjoyed a bright start to trading on the ASX, with investors in its $3.5 million capital raising sitting on big gains today.
North Fremantle-based Carnegie Wave Energy has acquired a 35 per cent stake in solar power and lithium battery storage provider Energy Made Clean through a $4.5 million investment.
Perth-based renewable energy technology developer Carnegie Wave Energy has won a $2.5 million grant from the Australian Renewable Energy Agency for a wave and solar power microgrid it aims to develop on Garden Island.
Carnegie Wave Energy has wholly acquired solar power and lithium battery storage provider Energy Made Clean by purchasing the 65 per cent stake it didn’t already own.
North Fremantle-based Carnegie Wave Energy plans to change its name to Carnegie Clean Energy after its $13 million acquisition of solar and battery microgrid developer Energy Made Clean.
WA Labor has promised the state’s sixth-largest town, Albany, would become fully powered by renewable energy – if elected – under a $19.5 million funding commitment with Carnegie Clean Energy.
Shares in Carnegie Clean Energy jumped 23 per cent today, with the company likely to receive financial support for an Albany wave project from the newly elected state government, while environmental activists are already putting pressure on uranium miners.
Australian Vanadium has joined fellow Perth company Carnegie Clean Energy in hoping to help solve South Australia’s energy crisis, today committing to tender to build a battery storage facility in that state.
Renewable-focused Carnegie Clean Energy has announced it is developing a $20 million, 10-megawatt solar power station in Northam, which it says will generate enough electricity to power 4,000 homes for 25 years.
Carnegie Clean Energy has announced plans to raise up to $6 million to fund its share of the development costs of the $20 million Northam solar power project.
SPECIAL REPORT: A small group of ministers and backroom advisers close to Mark McGowan will set the agenda for the new state government.
Carnegie Clean Energy has tripled the size of its capital raising to $18 million after accepting oversubscriptions from a share purchase plan and undertaking an additional placement.
The South Australian government has awarded Elon Musk’s Tesla the contract to build the world's largest lithium ion battery to supply the state with renewable energy, outbidding local company Carnegie Clean Energy.
ASX-listed Carnegie Clean Energy is evaluating three sites for the initial deployment of its CETO 6 wave power technology, including Albany and Cornwall, after it was confirmed today its Garden Island microgrid project will initially not include wave power.
ScreenWest has appointed its inaugural board as an independent not-for-profit organisation, having now completed its transition from a government agency.
Carnegie Clean Energy has secured $16 million of state government funding for a wave energy project at Albany while also gaining conditional approval from the federal government to transfer nearly $12 million earmarked for its Garden Island project to Albany.
Former Orbital Corporation boss Terry Stinson will join the board of Carnegie Wave Energy next month and succeed Jeff Harding as chairman, while Mark Woodall will also join the board of the renewables company.
The first stage of Carnegie Clean Energy’s wave energy farm off the coast of Albany is under way, with the installation of a wave data buoy last week.
A joint venture between a subsidiary of Carnegie Clean Energy and contractor Lendlease has won $6.8 million of work to install and operate a renewable powered microgrid in the Mid West town of Kalbarri.
Carnegie Clean Energy’s joint venture with contractor Lendlease has won its second contract in a week, with the partnership to design, construct and operate a $7 million solar project in NSW.
SPECIAL REPORT: The rollout of next generation energy infrastructure such as batteries and microgrids is kicking off in WA, adding to the opportunities available for contractors in this space.
Carnegie Clean Energy has agreed to sell its battery storage and microgrid business to ASX-listed Tag Pacific as part of an all-scrip merger deal.
Leonard Math has resigned as company secretary and chief financial officer of Gulf Manganese Corporation. Mr Math has extensive experience in public company responsibilities including extensive liaison with ASX and ASIC. The company has appointed Ian Gregory as company secretary.
Perth-founded Bombora Wave Power has secured an $18.7 million grant from the European Regional Development Fund, days after Carnegie Clean Energy announced funding delays for its wave energy project in Albany.
Carnegie Clean Energy’s long-serving managing director Michael Ottaviano has resigned, with the company also announcing major updates on three projects and plans to renegotiate its asset sale deal with Tag Pacific.
Ian Hobson has been appointed company secretary of White Cliff Minerals. Mr Hobson is a fellow chartered accountant and chartered secretary with more than 30 years of professional accounting experience, including commercial experience in Australia, UK and Canada.
Carnegie Clean Energy will take a reduced stake in ASX-listed Tag Pacific in exchange for the Perth company’s battery storage and microgrid business, after the parties agreed to remove a $2.2 million cash component from their original deal.
Carnegie Clean Energy has been forced to abandon plans to sell its battery storage and microgrid business, while chairman Terry Stinson has detailed the renewable energy outfit’s recent struggles in an address at today’s annual meeting.
Position | Company | Year | Company's current rank |
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Board Member
|
2017 - 2022 | 8 | |
Managing Director, Chief Executive
|
2007 - 2018 | 171 | |
Non-Executive Director
|
2016 - 2018 | 124 |
Announced | Bidder | Target | Transaction Type | Total Value | |
---|---|---|---|---|---|
Carnegie Clean Energy | Asset acquisition | $4.10m | >> |