Key highlights

  • Carnegie Clean Energy shares closed at 21 cents on 12 November 2026, up 10.53%, while the S&P/ASX 200 eased 0.07%.
  • The CETO Buoyant Actuator fabrication was completed, and the first stage of deployment under the ACHIEVE programme is due to commence in November 2026.
  • The company increased its Loan Facility to A$3.5 million and extended its Maturity to June 2027.

Shares in Carnegie Clean Energy Limited (ASX:CCE) closed at 21 cents on 12 November 2026, up 10.53% on the session. S&P/ASX 200 closed at 9,146.80, down 0.07%. Carnegie develops the CETO wave energy technology. Its latest update was its Quarterly Report to shareholders for the September 2026 quarter, issued on 30 October 2026.

Fabrication and deployment

Fabrication of the CETO Buoyant Actuator was completed ahead of the first stage of deployment under the ACHIEVE programme, with paint drying at a supplier facility in the Basque Country. The power take-off unit has been assembled at SKF before onshore testing, and fit testing inside the actuator was completed. Deployment is staged, with the subsea power systems to be integrated in a second stage in Spring 2027.

Funding and aquaculture

The company increased its existing loan facility to A$3.5 million and extended the maturity date to June 2027 to align with project milestone cash flows. A test plan for a US TEAMER aquaculture project has been approved, with activities scheduled to start in November.

Sector context

Wave and ocean energy developers remain at an early commercial stage, relying on demonstration projects and public programs to prove performance. The broader index was little changed on 12 November.

Risks and limitations

Offshore deployment carries technical, weather and Supply chain risk, and the company says it is staging the work to reduce these. The loan facility is a Debt commitment that must be serviced or refinanced by June 2027.

What to watch ahead

Investors will watch the November deployment, the Spring 2027 second stage and the start of the US TEAMER activities.