They will work it out

"One that has survived — but is yet to thrive share price-wise — is the Fremantle-based Carnegie Wave Energy (CWE, 4.5c), which proposes to change its name to Carnegie Clean Energy after moving into the stored energy space.

The only ASX listed wave energy play, the $90m market cap Carnegie last month paid $13m in cash and scrip for the private solar and battery microgrid business Energy Made Clean.

Carnegie chief Mike Ottaviano says the company has been at the “bleeding edge” of wave technology with its know-how, based on below-surface buoys. Under a pilot program, Carnegie is supplying power to the navy’s Garden Island base in Perth.

“This deal takes us from a pure-pay technology with no real revenue to a business with more than $20m in annual revenue.’’

The enlarged Carnegie will target remote and island communities where the high cost of diesel enhances the economics.

“At the moment the term micro-grid is still pretty new,’’ Ottaviano says. “As soon as investors see the new projects, they will work it out.’’

http://www.theaustralian.com.au/bus...n/news-story/a4091041fba25b8ce5e9baf0aef0a152