Carnegie Clean Energy

Carnegie Clean Energy Overview

Company Headquarters: Fremantle, Australia

Founded: 1987

Workforce: ~200

Company Working: Carnegie Clean Energy is engaged in harnessing renewable energy from various sources including solar and wave. Additionally, it offers battery storage solutions to the global market. The company is the primary developer of CETO wave energy technology. The firm operates through two business segments, which are CETO wave technology and solar & battery engineering. It offers wave energy harnessing system through its CETO wave technology segment. Some of the other products offered by the company include solar, battery solutions, and microgrids.

Carnegie Clean Energy has sales offices located in Australia, Chile, Ireland, and the UK. It operates in these countries through completely owned subsidiaries. Ocean Power Technologies Inc., Yam Pro Energy, and AW Energy OY are some of the company’s major competitors.

Strategy

Carnegie Clean Energy successfully commissioned and operated the grid-connected Path Wave Energy Project (PWEP), in line with its aim to commercially produce electricity. It is focusing on capturing value by applying the strategy of ‘build-own-operate’ projects.’ With this strategy, the company is engaged in providing end to end services for the project including equipment manufacturing, installation, commissioning, operation, and maintenance. It also focuses on site development, supply, and licensing of its CETO technology. The company is continually seeking opportunities to obtain grants, which can be utilized for product development.

Company Snapshot

$1.72M

Revenue

200

Employees

1987

Founded

Fremantle, Australia

Headquarters

SWOT Analysis

Strengths

Development of its patented technology, CETO
Offers a range of products in the renewable energy market
Highly supportive Australian government

Weaknesses

Lower sales of the company’s CETO wave technology in the global market

Opportunities

Intense competition from other players

Threats

Intense competition from other players

Key Developments

Date	Approach	Development
July 2018	Contract	Carnegie Clean Energy signed a contract with Enel SPA (Italy), where the latter will be investing USD 1.6 million in the R&D of its CETO technology. This is expected to enhance the feasibility of CETO being installed in the global market.
October 2017	Agreement	Carnegie Clean Energy signed a USD 15.8 million contract with the Australian Government for the development of CETO wave technology at Albany. This has improved the capabilities of the product.

Product Offering

Carnegie Clean Energy
- Wave Energy-CETO

Financial Performance

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