Australia’s Carnegie Wave Energy is planning to raise A$5 million (US$3.6 million) from a share purchase plan to help fund its wave and microgrid projects.
The SPP will allow all eligible Carnegie shareholders to purchase between A$3,000 and A$15,000 worth of shares in Carnegie at A4.2 cents per share. This equates to a 16% discount to the company’s last traded share price.
The fund will help fudn he development of Carnegie’s CETO 6 Project on Garden Island as well as its recently-announced Garden Island Microgrid project and international project developments.