Carnegie hosts Cornwall’s inward investment arm in WA

Australian wave energy developer, Carnegie Wave Energy has welcomed Invest in Cornwall, the inward investment arm of the Cornwall Council, with the aim of encouraging further investment opportunities between Australia and the UK.

Representatives from Invest in Cornwall spent time this week visiting several Western Australian organizations including Carnegie, local solar/battery microgrid developer and Carnegie’s partner, Energy Made Clean, the University of Western Australia, AusTrade and the Chamber of Commerce & Industry of Western Australia.

Tim Sawyer, Carnegie Wave Energy UK’s CEO, said: “We’re pleased to have had the opportunity to host Invest in Cornwall in Western Australia as it allows us to demonstrate what we’ve achieved to date with the development of our CETO wave technology and enabling microgrids, and to explore further opportunities for expansion of our business into Cornwall.”

Carnegie established its UK subsidiary, Carnegie Wave Energy (CWE) UK, in 2013 and secured a berth at Wave Hub in 2014. Cornwall Council has assisted Carnegie as an inward investor into Cornwall, to establish its business in the county, secure project financing and to forge local relationships with its industrial and academic base.

Nicola Lloyd, Head of Inward Investment for the Council, said: “Being in Western Australia has enabled us to see firsthand what Carnegie as a world leading wave energy and microgrid developer has achieved and to discuss their plans to expand their investment into Cornwall.

“We have also met with a number of organisations focused on smart specialization areas including marine & renewable tech, agritech & food sustainability, health tech and smart homes, all of which show promising inward investment opportunities as a result of future smart grid and Internet of a Things projects in Cornwall.”

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