Carnegie Clean Energy (ASX: $CCE) contract update

Carnegie Clean Energy (ASX: $CCE) has provided an update on the progress of the €3.75m EuropeWave Phase 3 Contract awarded to its subsidiary CETO Wave Energy Ireland for the ACHIEVE Project. The contract supports the deployment of CETO at BiMEP in the Basque Country, Spain, and marks the completion of Project Milestone 1, unlocking the submission of the first invoice for 262,257 ($436,890 AUD).

Executive commentary on ACHIEVE project progress

The ACHIEVE team has made significant progress in finalizing the design basis, load case, and commencing procurement processes. We are pleased to have signed the PCP Call-off Contract for Phase 3 of EuropeWave, and we look forward to the next set of deliverables that will further advance the ACHIEVE Project. The growth of the ACHIEVE team in Bilbao reflects our commitment to this exciting project and the opportunities it presents for the future of ocean energy technology.

Summary of EuropeWave contract update and outlook

Carnegie Clean Energy (ASX: $CCE) has achieved a significant milestone with the progress of the EuropeWave Phase 3 Contract for the ACHIEVE Project. The completion of Project Milestone 1 and the signing of the PCP Call-off Contract demonstrate the company's commitment to advancing its ocean energy technologies. With the next set of deliverables and the continued growth of the ACHIEVE team, Carnegie is well-positioned to validate the performance of the CETO technology at BiMEP in Spain, marking a key step on CETO's commercialization pathway. The collaboration with EuropeWave and the support of the Spanish Government further reinforce Carnegie's ambitions to make the world more sustainable through innovative ocean energy solutions.