CARNEGIE CLEAN ENERGY LIMITED Carnegie Wave Energy Limited announced that the CETO 5 Perth Project has completed 12 months of operations as required in its Government grant funding agreements. Additionally, payment has now been received for the concept design milestone of its CETO 6 Project. Carnegie Wave Energy Limited has completed the required 12 month operational phase of the Perth Project and has now submitted all grant milestone invoices to the Government of Western Australia's Low Emissions Energy Development (LEED) Fund and the Australian Government's Australian Renewable Energy Agency (ARENA).
Carnegie has received payment for all LEED milestones for the Perth Project including for the required operational period. Carnegie has now met all the requirements of its LEED funding agreement and received 100% of the grant payments from the Western Australian Government. In addition, Carnegie has received payment from ARENA for the first six months of operational milestones ($66,537) and has submitted the final milestone invoices ($955,043) associated with completing the full 12 months of operations.
Final detailed documentation regarding the Perth Project will be submitted shortly to ARENA. This will complete Carnegie's obligations under its funding agreement with ARENA for the Perth Project. Carnegie has also recently received a $200,000 CETO 6 milestone payment from ARENA for completion of the CETO 6 concept design milestone.
