government grant

ASX Announcement
8th April 2009
Government Grant for Carnegie’s Clean Coal Technology
Wave Energy Developer Carnegie Corporation Limited (ASX: CNM) is pleased to
announce it has been awarded a $156,567 Climate Ready grant for its green
heat exchange technology. The Australian Federal Government grant is
provided on a $1 for $1 matched funding basis and will allow Carnegie to test the
feasibility of the system approximately over the next 12 months.
The project aims to develop an advanced tubeless heat recovery system for flue
gases which would be used to pre-heat incoming combustion air. The system
captures and transfers heat from the hot flue exhaust gases to preheat inflowing
cold air using an inert substance. If successful, the technology will be readily
employable for energy recovery in coal fired power stations as well as other fossil
fuel power generation (gas, biomass, etc..) and general gas heat transfer
applications, saving costs, improving system efficiency and reducing greenhouse
gas emissions.
Carnegie’s Managing Director, Dr Michael Ottaviano said:
“Carnegie’s major focus remains on commercialising the CETO Wave Energy
technology but this Australian Government grant is indicative of the promise of
one of our earlier stage clean technologies.”
The technology was previously part of Carnegie’s Cleaner Coal Power project
which was reviewed in 2008, with the tubeless heat recovery system emerging
as the most promising component and which will be the only component further
advanced.