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Carnegie takes first step to wave energy

A Preliminary review into the feasibility of a wave energy farm in Albany has concluded there is unlikely to be “fatal flaws” in the proposed development, Carnegie Corporation Ltd said. The Perth-based company said while it was a positive result, it was only the first step in a wider, detailed environmental assessment of the project. The Preliminary Environmental Constraints Review studied Carnegie’s 30,000 hectares of offshore wave resource and an adjacent shore area, located 15 kilometres south-west of Albany. Environment consultants RPS Environment carried out the study. “The report concluded that based on the available information, ‘it appears unlikely there would be any fatal flaws in the proposed development due to environmental considerations,” Carnegie said in a statement. “Some aspects of the project design may need to incorporate environmental considerations and further studies are necessary to determine the nature and extent of these requirements.” Carnegie plans to develop the farm using CETO technology, which uses an array of submerged buoys tied to seabed pump units. The buoys use wave motions to drive the pumps that pressurise seawater, which is delivered ashore via a pipeline that then drives hydro turbines used to generate electricity. Early last month, Carnegie was issued a five-year exclusive licence to identify suitable areas for a wave energy facility off Albany’s coastline

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Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/01/18

1 year TSR5 year TSR
11thAdvance NanoTek1538%99%
293rdRefresh Group27%20%
475thAdvanced Share Registry-0%45%
552ndMobilarm-16%-19%
767thCarnegie Clean Energy-57%-2%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

25/10/17
$372k Sold
24/04/17
$5k Bought
24/04/17
$10k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

94th↓Refresh Group$6.2m
95th↓Advanced Share Registry$6.0m
96th↑Carnegie Clean Energy$5.3m
97th↓Advance NanoTek$5.1m
98th↓Mobilarm$5.0m
234 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Carnegie Clean Energy

114thMichael Ottaviano$728k
375thGrant Mooney$159k
869thKieran O'Brien$138k
Ranked by total remuneration from all listed WA companies

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