CCE - Carnegie Clean Energy

[Smurf1976]

The technology involved is very different but for reference there has been a tidal (not wave but it's still in the sea....) power plant in operation in France since the 1960's.

Capacity is 240MW and it's located near St Malo, a small coastal city in north-western France.

It's not the only one in existence but was the first and until a few years ago was the largest. The economics were improved by the fact that the main civil structure serves a dual purpose as both a power station and a road bridge so it was a "kill two birds with the one stone" sort of project.

 

[qldfrog]

And from memory it uses a river fed bay so:
Like an hydro barrage but the water goes upstream too with the huge tide present there
Usine marémotrice de la Rance
https://www.google.com/url?sa=t&sou...FjAAegQIBBAB&usg=AOvVaw1G_2HP7e-jHcbGmR0-IO5U

 

[BlindSquirrel]

Voluntary Administration announced today. I lost a fair bit but managed to get out around 2.3c.
I'd gotten tired of the MD's lucrative pay packet and lack of results.

 

[sptrawler]

Voluntary Administration announced today. I lost a fair bit but managed to get out around 2.3c.
I'd gotten tired of the MD's lucrative pay packet and lack of results.

This is the down side of 'free money', at least the W.A Government pulled the pin on it. You need R & D but it does need to be monitored and milestones set. Otherwise money is not directed where it should be.

 

[RexxarLoh]

Is there still hope for this company.

 

[BlindSquirrel]

There's always hope! I promptly ignored their last two request for capital though.
Hope is irrational, but pleasant in its own way.

 

[qldfrog]

Even if the GW fanatics probably consider me a CC denier, i i ha a deep interest in environmental issue.
I recently watched a few docos on Netflix on environmentally friendly island power systems.
Many included wave energy.
As a global lesson from the experience these places gave, i i wou say there is not much hope for this technology
Salt corrosive environment, extreme weather events, marine life and maintenance extra cost...not that easy and much easier to use a land based wind turbine

 

[peter2]

What's going with this "phoenix"? I thought it was dead in the water.

 

[qldfrog]

What's going with this "phoenix"? I thought it was dead in the water.

As long as there is a GW narrative and some grants, there is hope.
A pro bono consulting advice: cce technology could be used as a battery if using an enclosed seaside bay.even better multiple installations can leverage tidal time differences and provide smooth in peak production.
Send the cheque directly to The ?

 

[Sean K]

How is this thing still listed and operating?

 

[divs4ever]

As long as there is a GW narrative and some grants, there is hope.
A pro bono consulting advice: cce technology could be used as a battery if using an enclosed seaside bay.even better multiple installations can leverage tidal time differences and provide smooth in peak production.
Send the cheque directly to The ?

yep !
looks like a grant magnet to me also

sadly i already hold CCE

DYOR

 

[Belli]

Yale penned an article (2014) canvassing some of the issues with wave energy. It mentions Carnegie and I understand Lockheed pumped $60m into it but blew the lot - small change for them probably.

Why Wave Power Has Lagged Far Behind as Energy Source

Researchers have long contended that power from ocean waves could make a major contribution as a renewable energy source. But a host of challenges, including the difficulty of designing a device to capture the energy of waves, have stymied efforts to generate electricity from the sea.

e360.yale.edu

One person I spoke to, who is involved in similar studies, expressed an opinion that a problem is confused seas which creates destructive energy. A technological challenge for sure.

I believe there is a pilot program underway or at least being considered at King Island.

It'd be funny if it some organisation ascertained a great position is 1,000 meters off Bondi. The locals would be chuffed.

 

[divs4ever]

Yale penned an article (2014) canvassing some of the issues with wave energy. It mentions Carnegie and I understand Lockheed pumped $60m into it but blew the lot - small change for them probably.

Why Wave Power Has Lagged Far Behind as Energy Source

Researchers have long contended that power from ocean waves could make a major contribution as a renewable energy source. But a host of challenges, including the difficulty of designing a device to capture the energy of waves, have stymied efforts to generate electricity from the sea.

e360.yale.edu

One person I spoke to, who is involved in similar studies, expressed an opinion that a problem is confused seas which creates destructive energy. A technological challenge for sure.

I believe there is a pilot program underway or at least being considered at King Island.

It'd be funny if it some organisation ascertained a great position is 1,000 meters off Bondi. The locals would be chuffed.

sounds like a channel that isn't navigable by medium size ( or bigger ) ships , might be a partial answer , will cut down site possibilities but MIGHT get some generators into full commercial production

am only down 92% on this , so any claims of 'sour grapes ' sound reasonable to me

 

[divs4ever]

REQUEST FOR TRADING HALT

Carnegie Clean Energy Limited (Company) (ASX code: CCE) requests a trading halt of its securities, pending the Company making an announcement regarding the Phase 3 results of the EuropeWave Program. In accordance with Listing Rule 17.1, the Company provides the following information regarding this request: 1. The Company requests that the trading halt continue until the earlier of the commencement of trading on Wednesday 6 September 2023 and the release of an announcement regarding the results of the EuropeWave Program. 2. The event that the Company expects will end the trading halt is the announcement referred to in paragraph 1 above. 3. The Company is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt.

By authorisation of the Board of Directors

i hold CCE ( and deeply underwater )

since it is currently trading at 0.1 cents ( can't go lower without a consolidation first ) they must be expecting a 'blip'

please take care this has become a research black hole ( the tech equivalent of a pocket miner aka junior explorer )

 

[divs4ever]

Letter from Chairman regarding proposed share consolidation

Dear Shareholder,
I write to you towards the end of what has been a transformational year for Carnegie Clean Energy.
Together, we have achieved major milestones and formed global strategic partnerships that will accelerate our progress toward achieving commercial scale. Last month, we announced CETO Wave Energy Ireland had been awarded a €3.7m ($6.3m) contract to deliver and operate our wave energy technology in Europe.
Through the ACHIEVE Programme, our CETO wave energy converter will be deployed and generating in waters off the Basque Country by 2025. These activities will be further enhanced with support from the Spanish Government who awarded €1.2m ($1.9m) to Carnegie’s wholly-owned subsidiary Carnegie Technologies Spain.
It is now important to write to you about another potential turning point which pertains to consolidation of capital as outlined in Resolution 3 of the Notice of Meeting you received today. As outlined in Resolution 3, the consolidation is designed to take place as follows:
• Every 50 Shares to be consolidated into 1 Share
• The Options currently on issue to be consolidated in accordance with Listing Rule 7.22.1
• The Shares to transition to a post-consolidation basis on 16 November 2023 Should this consolidation result in a fractional ownership of a Share or Option, the Company will be authorised to round that fraction up to the nearest whole number, as of the Consolidation Effective Date, and in accordance with the terms and conditions described in the Explanatory Statement. The Board of Directors believe that now is the right time to consolidate our shares to amplify our success and enable future growth.
It is critical that we streamline our capital structure and prepare for growth as we approach commercial scale.
This share consolidation is a strategic step to ensure we are prepared for the journey ahead. We believe that consolidating shares will also improve market perception. It's a demonstration of our dedication to maximising returns for investors. The proposed consolidation is designed to optimise our capital structure, making it more manageable and aligned with industry standards.
The move intends to increase the attractiveness of our shares in the market, enhance liquidity and reduce administrative complexities, all of which can contribute to creating long-term value. Since listing on the ASX in 1993, Carnegie has not consolidated its shares. This is quite an achievement.
Over the past several years, the Company’s objectives have been reset and the Company has embarked on a defined pathway towards commercialisation. We’ve made significant strides and now feel that the time is right to consolidate.
Carnegie currently has more than 15 billion shares on issue which makes it difficult for the share price to move in tradeable increments over the short to medium term. A consolidation will reduce the 21 North Mole Drive, North Fremantle WA 6159 | PO Box 39, North Fremantle WA 6159 Phone: +61 8 6168 8400 | www.carnegiece.com | ABN 69 009 237 736 2 number of shares on issue and in turn, the volume required to be traded to move through a share price increment. Therefore, trading in the shares should increase as a result of the consolidation and provide a more liquid market for Carnegie shares. The Board of Directors, after thorough evaluation and consideration of the potential benefits and implications of this consolidation, unanimously recommends voting in favour of Resolution 3.
As a shareholder, your vote matters and your participation in the decision-making process is highly valued. We invite you to attend the upcoming Annual General Meeting where Resolution 3 will be presented for your vote.
If you are unable to attend in person, you may appoint a proxy to represent you and cast your vote on your behalf. In closing,

I want to express my gratitude for your support. We look forward to your participation in the Annual General Meeting and to your continued support in making the best decisions for the future of our company

i hold CCE

and that is how a flea-bitten dog gets infested with tapeworms

the only like thing this mob is likely to commercialize , is R&D gouging ,

5 billion shares .. well BOO-HOO who issued them ( i sure as hell wasn't printing any

BTW the overwhelming trend in consolidations if for the share price to return to the pre-consolidation level ( so in time 0.2 or 0.1c looks like the trend

the main exception i remember is the BSL consolidation ( that actually worked positively )

now a good business person might have resisted the expenditure entailed in completing this consolidation ( after all they aren't rolling in profits are they )