Carnegie Wave Energy Limited
(ASX:CWE) has announced it will partner with the University of Western Australia on a $1 million wave energy research project.
The key aim of the project is to find ways to reduce the cost of wave energy converters.
Carnegie Chief Technology Officer, Jonathan Fievez, has indicated outcomes of the project will be applied to the development of the company’s CETO 6 technology.
The project is also supported by $994,000 in funding from the Australian Renewable Energy Council.
Carnegie Wave Energy reported a net loss of $12 million for the six months to the end of December 2015.
