the tech of the greek sea godess

CETO Overview

Named after a Greek sea goddess, CETO offers the potential to revolutionise power and water production globally. CETO harnesses the enormous renewable energy present in our ocean's waves and converts it into two of the most valuable commodities underpinning the sustainable growth of the planet; zero-emission electricity and zero-emission desalinated water.

Invented by Carnegie Chairman Alan Burns, CETO has been under development for nearly 10 years. Carnegie was one of the early backers of the CETO technology and in 2005 swapped its minority, direct interest in CETO for equity in UK-listed Renewable Energy Holdings (‘REH') plc which it continues to hold. The creation of REH ensured the continued funding of CETO during a time when market awareness of sustainable technologies was low.

In August 2007, Carnegie announced a collaboration agreement between Carnegie and REH that delivers Carnegie direct exposure to CETO once again. Upon commercialisation, it allows Carnegie to take up to 90% of every CETO project in the Southern Hemisphere in return for funding the balance of the development activities up to a maximum of AU$10 million (£4m).