Carnegie Clean Energy (ASX: CCE) secures grant to design commercial MoorPower pilot for offshore aquaculture barges

Carnegie Clean Energy Limited (ASX: CCE), the wave energy technology developer headquartered in North Fremantle, Western Australia, announced on June 26, 2025, that it has received AUD 335,020 in cash funding from the Blue Economy Cooperative Research Centre to support the design of its first MoorPower commercial pilot system. The project aims to prepare the wave-powered energy platform for full-scale deployment on aquaculture feeding barges, offering an alternative to conventional diesel generation in remote offshore operations.

Backed by collaborations with Huon Aquaculture, Advanced Composite Structures Australia, and the University of Tasmania, this funding award marks a critical step toward commercializing Carnegie Clean Energy’s flagship MoorPower system. The ASX-listed clean energy firm closed June 26 with a share price of AUD 0.053, maintaining a 32.5% gain over the past 12 months and a market capitalization of AUD 19.41 million. The grant follows the company’s successful deployment of its MoorPower Scaled Demonstrator in 2024, which served as a technical validation milestone.

What specific design enhancements are planned under this preliminary MoorPower pilot project grant?

The funding from the Blue Economy Cooperative Research Centre will be used to conduct in-depth technical activities required for commercial adaptation of the MoorPower platform. This includes scaling and optimizing the system’s mechanical and control components for integration with full-size feeding barges used in offshore fish farming. Project work will incorporate site-specific variables such as vessel mooring dynamics, operational load profiles, and regulatory compliance assessments related to marine energy generation.

The upcoming pilot design phase aims to incorporate lessons from Carnegie Clean Energy’s Scaled Demonstrator, which was deployed and tested in 2024 under real-world conditions. The company intends to refine MoorPower for compatibility with barge-mounted aquaculture infrastructure, enabling stable power delivery for onboard electrical systems such as pumps, sensors, lighting, and feeding equipment.

The new phase will also analyze the operational environment of commercial fish farms to ensure technical robustness. According to institutional stakeholders familiar with the project, these refinements are essential before securing additional capital to build and operate a full-scale version of the MoorPower system at sea.

Why is clean wave-generated power critical for offshore aquaculture operations?

As aquaculture operations increasingly shift to deeper offshore zones, the industry is confronting an urgent need to replace diesel-powered generators with more sustainable and logistically feasible solutions. Transporting and storing diesel on remote barges poses environmental, economic, and operational challenges. Diesel fuel is not only a significant cost driver for offshore farms but also a major contributor to emissions and regulatory risk, especially as sustainability expectations from consumers and global seafood certification bodies intensify.

Carnegie Clean Energy’s MoorPower solution is engineered to address these pain points by harvesting kinetic energy from ocean waves and converting it into stable electrical output. Its platform is a spin-off from the company’s proprietary CETO wave energy converter but has been modified for fixed-site, vessel-mounted applications. Designed to be tethered to stationary offshore platforms, MoorPower can autonomously provide reliable renewable energy while minimizing maintenance needs and human intervention.

Institutional investors have taken increasing interest in the clean energy transition within aquaculture, with several global fish farming operators piloting hybrid or renewable energy systems. However, few technologies have reached the commercial readiness level that Carnegie Clean Energy is now targeting with this design phase.

What role do project partners and in-kind contributions play in enabling this pilot development?

In addition to the AUD 335,020 in direct funding from the Blue Economy Cooperative Research Centre, Carnegie Clean Energy and its collaborators will contribute approximately AUD 417,000 in in-kind support for the design phase. Partners include Huon Aquaculture, one of Australia’s largest salmon farming companies, as well as Advanced Composite Structures Australia and the University of Tasmania. These groups will provide technical expertise, operational data, materials engineering, and site readiness assessments throughout the project timeline.

The direct involvement of Huon Aquaculture signals a strong market validation pathway for Carnegie Clean Energy’s technology. A successful deployment on Huon’s operating feeding barge could lead to scaled procurement across the broader aquaculture sector in Australia and potentially overseas. It also opens up the possibility of exporting MoorPower as a packaged marine energy solution to markets such as Norway, Canada, and Chile, where deep-sea aquaculture is already well established.

Institutional stakeholders see these partnerships as de-risking the technology’s commercial pathway by embedding end-user feedback directly into the development cycle. They also note that this form of grant-and-collaborate model aligns with Australia’s blue economy and net-zero transition policies, which prioritize applied research and emissions mitigation in marine industries.

How does this project align with Carnegie Clean Energy’s broader wave energy technology roadmap?

Carnegie Clean Energy is the sole developer and intellectual property holder of both the CETO and MoorPower platforms. Its business model is anchored in commercializing ocean energy technologies using advanced machine learning, predictive control systems, and high-efficiency power electronics. The company’s strategy has shifted in recent years from large-scale grid-connected wave farms to modular applications that offer clearer pathways to commercialization, such as aquaculture and maritime defense.

Through its subsidiaries, Carnegie Technologies Spain and CETO Wave Energy Ireland, the company is also exploring opportunities to localize its technology offerings for EU-based sustainability programs and research alliances. However, the MoorPower initiative remains its most near-term commercial opportunity due to the relatively low barriers to entry, defined customer segments, and growing regulatory pressures around decarbonization in offshore food production.

With the preliminary design phase now fully funded and operational, Carnegie Clean Energy is positioning itself to raise capital for a full-scale build-and-deploy effort, which would represent its first commercial wave energy deployment. Market observers view this milestone as pivotal not just for the Australian clean tech firm, but for the viability of wave energy as a mainstream renewable source in marine industries.

What are analysts and institutional investors saying about Carnegie Clean Energy’s current positioning?

While Carnegie Clean Energy remains a micro-cap stock with a relatively modest trading volume—14,117 shares on June 26, 2025—the company’s recent activity has sparked cautious optimism among long-term clean tech investors. With a 52-week trading range of AUD 0.033 to AUD 0.063 and a PE ratio of zero due to its pre-revenue stage, the stock continues to be speculative. However, its 32.5% return over the past year indicates growing market confidence in its execution.

Sector sentiment also reflects a supportive environment for energy transition technologies in Australia, especially those with direct industrial applications. Institutional investors note that successful commercial validation of MoorPower could help Carnegie Clean Energy secure further grants, strategic partnerships, or even licensing deals with marine energy developers outside Australia.

Current ASX rankings show Carnegie Clean Energy at 1,517 out of 2,327 listed companies and 22nd out of 30 in the utilities sector. These positions reflect the early-stage nature of its business but also underscore its potential upside if MoorPower becomes a commercially viable solution for offshore aquaculture operations and beyond.

What is the future outlook for MoorPower’s commercialization and deployment timeline?

Following the successful completion of the preliminary design phase, Carnegie Clean Energy and the Blue Economy Cooperative Research Centre plan to secure capital to fund the build and deployment of the first full-scale MoorPower unit. The target is to install the system on an operational Huon Aquaculture feeding barge, with deployment anticipated in the latter half of 2026, subject to permitting and financing.

If that pilot proves successful in delivering consistent and cost-effective renewable energy, Carnegie Clean Energy may scale production through OEM partnerships or public-private sector procurement programs. Future use cases could include autonomous ocean monitoring stations, island microgrids, and naval platforms where grid connectivity is not feasible.

Institutional sentiment remains cautiously bullish, with analysts indicating that a working commercial deployment could substantially derisk Carnegie Clean Energy’s core technology proposition and enhance its ability to attract long-term investment. The clean energy developer’s ability to pair engineering validation with strong customer partnerships will be the determining factor in whether MoorPower becomes a niche innovation or a transformative energy platform for the maritime sector.