Thanks crazydave for getting back to me, I should have figured you would have moved on by now. My last job in the navy back in 1986 was when I was a Chief in sailors postings in Navy Office so I know how it works.
As for CWE they are no more they are now known as Carnegie Clean Energy (CCE). They bought a private solar energy and battery storage company from WA called Energy Made Clean. The company has been built up by John Davison over the last ten years. It has managed to get quite a few projects up and going in WA. The most notable being the CSIRO Square Kilometre Array at Murchison.
The reason given for the purchase was to open up revenue creating opportunities. As you would know, that was a long way off for wave energy.
The market seemed to like the move as the sp has trebled from it's lows before the acquisition.
As for Ceto 6, that is still well and truly alive, it is just such a slow process as you would know. If it all goes as planned, there should be a unit off Garden Island this year and one or more over in Cornwall in the U.K in 2018. That one has EU funding.
Personally, I will not get excited about Wave Energy until they deploy a few of the new ones and prove they are viable.
As for the solar energy and battery storage microgrid technology side of the business, I am much more bullish about that. Read up on what Energy Made Clean has done and where they are headed and you will see what I mean.
Thanks again for getting back crazydave, happy investing.
Cheers Mega
CWE Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
