Carnegie Plans to Raise US$3.6 Million for Projects

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.

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