Prioritising markets for Carnegie's Wave Predictor

September 23, 2022
By Andrew Outhwaite

Fremantle-based Carnegie Clean Energy has developed CETO, a novel technology that harnesses the enormous untapped energy present in ocean waves and converts it into grid-ready electricity.

A submerged buoy sits a few metres below the surface of the ocean and moves with the ocean’s waves.

Carnegie has also recently launched MoorPower, a CETO derived wave energy vessel designed to solve the problem of securing clean and reliable energy for offshore activities, thus reducing reliance on diesel generation.

Offshore vessels, such as feeding barges for the aquaculture sector, are being targeted as a first market, with the long- term vision to capture a majority of marine operations that require untethered energy.

However, to maximise efficiency and reliability, both applications require accurate prediction of waves and hydrodynamic forces in real time.

Therefore, the ASX listed company has also developed the Machine Learning (ML) Wave Predictor, which can make calculation within a fraction of a second. Accurate physics-based solvers would take hours or days.

Accurate wave prediction has many other potential applications including: piloting autonomous marine vehicles, enhancing safety in aquaculture operations, predicting waves for surfing competitions or reducing the lives lost to rock-fishing.

With Carnegie’s clean technologies offering exciting commercial scope in several global markets, the challenge for the company was where to prioritise.

Carnegie worked with For Blue to identify and prioritise markets and potential customers or partners based on technology fit, market maturity and growth potential.

The outcome was an overarching business model and product strategy document to assist the board in key decision making.

Carnegie rated us five stars for our one-to-one support and benefited “from a structured way to assess spin-off opportunity which mapped out the applications and customers”.

This project was delivered in partnership with City of Fremantle, Australian Government Department of Innovation, Science, Energy and Resources, WA Government Department of Primary Industries and Regional Development, the Australian Small Business Advisory Service and Business Station.

For further information on growing your marine innovation, check out our Blue Gravity program or contact us.

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