Carnegie Clean Energy’s ACHIEVE Project Passes EuropeWave ATP Milestone

Carnegie Clean Energy Ltd (Carnegie) is pleased to share that its wholly owned subsidiary, CETO Wave Energy Ireland (CWEI), has successfully passed the EuropeWave Authorization to Proceed (ATP) milestone as part of its EuropeWave ACHIEVE Contract.

As part of the ATP milestone, CWEI submitted detailed documents covering financial, technical, safety, regulatory, and testing aspects. These have been reviewed by the EuropeWave Buyers Group to determine whether it was ready to proceed to the next stage of contract delivery and marks another successful step towards the deployment of CETO at BiMEP as part of the ACHIEVE Program.

The successful achievement of the ATP milestone marks the start of a transition over the coming months from planning and design into procurement. With the EuropeWave Authorization to Proceed granted, the team will begin awarding contracts for the fabrication and procurement of long lead items. Passing the ATP milestone also unlocks a EuropeWave milestone payment of approximately €168,000 which can now be invoiced.

Miguel Santos Herrán, the ACHIEVE Project Manager said, “Passing the Authorization to Proceed milestone of the EuropeWave contract is a testament to the team’s hard work and vision for the ACHIEVE Program, which will be a key strategic step in CETO’s commercialization journey. For us, his is an exciting green light. We keep taking important steps towards being grid connected and generating renewable electricity from waves in the Basque Country.”

Carnegie Clean Energy CEO, Jonathan Fievez added, “We’re grateful to EuropeWave and our Spanish and Basque funders for their critical support for the CETO technology and our mission to bring wave energy to the world. This is an exciting time for our people and the partners that have supported us along the way and a great opportunity for strategic partners who would like to join us on the journey.”