MoorPower’s Commercial Future Hinges on Unlocking Investment After Design Phase

Funding Secures Next Step for MoorPower

Carnegie Clean Energy (ASX, CCE) has taken a significant stride toward commercializing its wave energy technology with a $335,020 grant from the Blue Economy Cooperative Research Centre (CRC). This funding will support the preliminary design phase of the MoorPower Commercial Pilot Project, which aims to deploy wave-generated power systems on offshore aquaculture feeding barges.

The MoorPower system, derived from Carnegie’s established CETO wave energy technology, is designed to replace diesel generators currently used in offshore aquaculture operations. This shift promises to reduce operational costs, carbon emissions, and environmental risks associated with diesel fuel use in the expanding aquaculture sector.

Collaborative Effort Across Industry and Academia

Carnegie is collaborating with key partners including Huon Aquaculture, Advanced Composite Systems Australia, and the University of Tasmania. These partnerships bring together expertise in aquaculture operations, composite materials, and marine engineering to refine the MoorPower design for commercial-scale applications. The project also benefits from the contributions of specialist subcontractors, with an additional in-kind support valued at approximately $417,000.

The design work will focus on scaling and optimizing the MoorPower system to meet the specific operational parameters of feeding barges, including mooring configurations and compliance requirements. This detailed engineering phase follows the successful 2024 MoorPower Scaled Demonstrator Project, which validated the technology’s potential in real-world conditions.

Unlocking Investment and Commercial Deployment

Beyond design, the project aims to unlock further investment to enable the construction and operation of the first commercial MoorPower system. The collaboration with the Blue Economy CRC is crucial in bridging the gap between demonstration and commercial deployment, signaling growing confidence in wave energy’s role within the Blue Economy.

As the aquaculture industry continues to move offshore, the demand for clean, reliable, and cost-effective energy solutions is intensifying. MoorPower’s wave energy approach offers a promising alternative to diesel, aligning with broader sustainability goals and regulatory pressures to reduce carbon footprints.

Carnegie’s progress with MoorPower highlights the evolving landscape of marine renewable energy technologies and their integration into commercial industries. The coming months will be critical as the company advances design milestones and seeks to secure the capital necessary for pilot deployment.