agreement with synergy, page-3

http://www.energycurrent.com/index.php?id=3&storyid=15697

Synergy to buy wave-generated electricity from Carnegie2/2/2009 8:22:16 PM GMT





PERTH, WESTERN AUSTRALIA: Australian wave energy developer Carnegie Corp. (ASX: CNM) has signed a memorandum of understanding with energy retailer Synergy. Synergy has agreed to purchase electricity from the first stage of wave energy project off the south west coast of Western Australia.



Carnegie believes that there is enough wave energy potential off the coast of Western Australia to develop a number of projects using its CETO wave energy technology.



The CETO system uses an array of submerged buoys tethered to seabed pump units anchored to the ocean floor. The buoys move with passing waves, driving the pumps which pressurize seawater and deliver it to the shore via a pipeline. The pressurized water is used to drive turbines, generating electricity.



The CETO technology is owned by Renewable Energy Holdings, which has a joint venture license relationship to develop CETO technology with EDF EN in the northern hemisphere and Carnegie in the southern hemisphere.