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Australia : $6MILLION to be raised by CARNEGIE Wave Energy.

$6 Million has been raised up by Carnegie Wave Energy for the progress commercialization of the CETO wave energy technology, consisting the delivery of Carnegie's first "wave to wire" commercial demonstration project- the Perth Wave Energy Project- and for general working capital.

With the Share Purchase Plan, funds will be increased, that provides shareholders up to $15,000 worth of shares priced at A$0.032 each, a discount of 20% to the 5-day average share price.

In Western Australia, Carnegie is developing the Garden Island sit for commercial demonstration project as well as Australian Department of Defense as a key stakeholder and will be the power purchaser and it has also received an approval for environmental and maritime safety.

When completed, the PWEP will be the country's first commercial scale CETO grid nexus wave energy project and aided by $7.76 million from the government of Western Australia's Lowe Emissions Energy Development fund, which s part of a larger $10.45 million LEED grand.

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Publication:Mena Report
Date:Feb 11, 2013
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