Carnegie Clean Energy Limited (ASX:CCE) Secures Bond Facility
Facility Details
Carnegie Clean Energy Limited (ASX: CCE) has successfully secured an Export Growth Bond Facility with Export Finance Australia (EFA). This facility enables Carnegie Technologies Spain to access advanced payment guarantees for grant payments related to the ACHIEVE Programme’s CETO deployment at the Biscay Marine Energy Platform (BiMEP) in Spain. The total bond facility limit is €2,497,314.89, with an establishment fee set at $41,000.
Carnegie has also signed an Offer Letter and General Security Deed for this facility, with plans to sign an Intercreditor Deed alongside Ballamena Pty Ltd, which provided a $2.5 million loan for the programme.
Executive Comments
CEO Jonathan Fievez expressed excitement about EFA’s involvement, stating, “It is exciting to have Export Finance Australia on board and standing behind our CETO wave energy technology on its first European deployment.” He highlighted that this deployment would demonstrate CETO’s electricity generation capacity in Europe. He acknowledged EFA’s thorough due diligence and support for the bond facility, which reflects confidence in Carnegie’s technology and team.
Project Overview
The ACHIEVE Programme aims to deploy and operate a CETO prototype in Europe, marking a significant step towards commercialisation. The deployment is set to begin in 2025, with data collected over a two-year period to validate CETO’s performance. This initiative is part of broader European efforts to advance ocean energy technologies under collaborative funding frameworks.
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