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Carnegie Clean Energy Limited (ASX: CCE) (“Carnegie” or the “Company”) is pleased to announce an important partnership with global industrial leader, SKF, on the delivery of CETO’s Power Take-Off (PTO) system. SKF brings a wealth of expertise in bearings, seals, and related services. As a first step towards a long-term technical partnership on the commercialisation of Carnegie’s CETO wave energy technology, SKF and Carnegie are collaborating on the design and delivery of the Power Take-Off (PTO) units for the ACHIEVE Programme.

Having recognised Carnegie’s CETO technology as a leading wave energy solution, SKF provided early ACHIEVE PTO bearing and shaft design activities under a Development Agreement between the companies. Following completion of those design activities, SKF has subsequently been contracted to manufacture three PTO units for the ACHIEVE Programme’s CETO deployment at the Biscay Marine Energy Platform (BiMEP).

SKF is a leading rotating equipment provider that serves more than 40 industries with products, services and engineering solutions. With an expanding presence in the ocean energy, SKF solidified its commitment to the sector in March 2024 by becoming a Lead Partner of Ocean Energy Europe (OEE), where Carnegie is also an active member. SKF is the first major supply chain company to join the OEE board, signalling an increasing recognition of the industrial growth opportunity the ocean energy sector provides. Carnegie’s partnership with SKF builds on SKF’s involvement in numerous EU-funded ocean energy projects focused on tidal power commercialisation and aligns with their strategic expansion into wave energy applications.

“Carnegie is one of the leading wave energy device developers globally. Our existing partnership evolved over time from single rotating equipment components to a fully integrated power take-off system which we have been jointly developing with the Carnegie team. We are proud to be part of this journey and are looking forward to commercialising the technology going forward”, says Michael Baumann, Global Application Account Manager, Ocean Energy at SKF.

Carnegie welcomes this partnership with SKF and is excited to work together on the commercialisation of the CETO technology, contributing to the global transition towards clean and sustainable energy.

Carnegie CEO Jonathan Fievez commented: “The SKF partnership reinforces our supply chain with a globally recognised leader that is capable of adding value as we progress CETO’s commercialisation pathway. By leveraging SKF's established expertise and advanced technologies, we are ensuring CETO maintains its position as a leading wave energy solution for the long term. We are very pleased to collaborate with SKF, a global precision manufacturer with production capacity that can match the intended CETO scale-up.”