Company Overview

Carnegie Clean Energy Limited is an Australian renewable energy company focused on the development and commercialization of ocean energy and integrated clean energy solutions. The company operates primarily within the renewable energy and clean technology industries, with a strategic emphasis on wave energy, hybrid microgrids, and energy storage systems. Its core mission is to provide reliable, low-emission energy solutions for remote, island, and grid-constrained markets.

The company’s primary revenue drivers are its wave energy technology development activities and its delivery of microgrid and energy storage projects through its engineering and services capabilities. Carnegie Clean Energy is best known for its proprietary CETO® wave energy technology, which is designed to generate zero-emission electricity by converting ocean wave motion into power. Founded in 2004 and originally focused exclusively on wave energy research, the company broadened its business model over time to include near-term commercial clean energy solutions, particularly after acquiring an established microgrid engineering business to support revenue diversification.

Business Operations

Carnegie Clean Energy operates through two principal business activities: Wave Energy Technology development and Microgrids and Energy Storage Solutions. The wave energy business centers on the research, design, and demonstration of the CETO® wave energy system, which is intended for utility-scale deployment pending further technical and commercial validation. This segment is largely development-stage and supported by grants, pilot projects, and strategic partnerships.

The company’s commercial operations are primarily conducted through its wholly owned subsidiary Energy Made Clean, which designs and delivers integrated microgrid systems combining solar, wind, battery storage, and control software. These systems are deployed across remote communities, island grids, and industrial sites. Operations span domestic Australian projects and international contracts, particularly in island nations, with revenue generated from engineering, procurement, construction, and ongoing operational services.

Strategic Position & Investments

Carnegie Clean Energy’s strategic direction is centered on maintaining long-term optionality in wave energy while generating near- to medium-term revenue through proven clean energy infrastructure solutions. The company continues to invest in advancing the CETO® wave energy platform, including digital control systems, survivability engineering, and offshore deployment methodologies, often supported by government and research funding.

A key strategic investment was the acquisition of Energy Made Clean, which repositioned the company toward commercially deployable renewable solutions and reduced reliance on a single emerging technology. Carnegie has also participated in collaborative projects with utilities, research institutions, and government agencies to validate new energy technologies. Its emerging focus areas include grid-forming inverters, hybrid renewable systems, and energy security solutions for remote and island markets.

Geographic Footprint

Carnegie Clean Energy is headquartered in Australia, where it maintains its corporate base, engineering teams, and the majority of its operational assets. The company has a strong presence in Western Australia, particularly in renewable engineering and project execution, and has historically conducted wave energy testing along the Australian coastline.

Internationally, the company has undertaken projects and technology development activities in Europe, including Spain, and across Pacific Island nations, where demand for resilient, low-emission microgrids is high. While international operations are project-based rather than supported by extensive permanent infrastructure, Carnegie maintains a global development and partnership footprint aligned with its clean energy deployment strategy.

Leadership & Governance

Carnegie Clean Energy was founded by Dr. Tim Finnigan, who played a central role in the invention and early development of the CETO® wave energy technology. The company is led by an executive team with experience in renewable energy engineering, project delivery, and technology commercialization, with governance oversight provided by an independent board.

Key executives include:

• Jonathan Fiévez – Chief Executive Officer
• Michael Baumann – Chief Financial Officer
• Alex Maton – Chief Technology Officer
• Jeremy Duke – Executive General Manager, Growth & Commercial

The leadership team emphasizes disciplined capital allocation, technical validation, and a dual-track strategy that balances long-term innovation with commercially viable clean energy solutions.