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ASX Announcement 12th April 2013
Global Marine Renewable Energy Conference Presentation
Presentation from Carnegie Wave Energy Limited (ASX: CWE) Dr Michael Ottaviano delivered yesterday in Washington DC at Global Marine Renewable Energy Conference. Dr Ottaviano delivered the attached presentation in the Wave Technology Developers session and sat on the Utility & Developer panel alongside EDF, Atlantis Resources and Snohomish PUD.
For more information: Dr Michael Ottaviano Managing Director Carnegie Wave Energy Limited (08) 9486 4466 [email protected] Website: www.carnegiewave.com
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Global Marine Renewable Energy Conference
Michael Ottaviano
© Copyright Carnegie Wave Energy Limited 2013 1
Michael Ottaviano
Chief Executive Officer
11 April 2013
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Carnegie Wave Energy Limited - snapshot
• Inventor, owner and developer of proprietary wave energy technology ("CETO")
• 25 engineering, commercial, and administration staff
• ASX-listed, headquartered in Fremantle, Western Australia
• CETO developed and proven over 10 years and $60m
• 117 patents or patents pending globally
© Copyright Carnegie Wave Energy Limited 2013 2
Australian Stock Exchange (ASX) - CWE
Share price (20 day VWAP) 3.5c
12-month share price range 3c – 5.5c
Average daily volume 1,115,000 shares
Market capitalization $50m
Debt Nil
Cash $15m
Grants (remaining draw down) $17mFor
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Australian Technology on the World Stage
© Copyright Carnegie Wave Energy Limited 2013 3
General Martin Dempsey, Chairman of the Joints Chiefs of Staff, the highest ranking military office in USA and principal military adviser to the US
President, inspecting the CETO wave power system in November 2012
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CETO – basic configuration
© Copyright Carnegie Wave Energy Limited 2013 4
• Omni-directional swell harnessing
• Fully submerged
• Modular design utilising proven componentry
• Onshore Power and Water Generation
• Nearshore Location
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Offshore generation configuration – maximum market potential
• Omni-directional swell harnessing
• Fully submerged
• Modular design utilising proven componentry
• Onshore or Offshore Power Generation
• Nearshore and Deep Water Location
© Copyright Carnegie Wave Energy Limited 2013 5
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Technology Development Process
Focus on accurate description of load cases and on driving peak and operating
load convergence.
This requires a detailed and accurate understanding of the system
hydrodynamics and development of complex numerical models
Validated models used as basis of design for next generation scale up
Confidential – Commercial in Confidence © Copyright Carnegie Wave Energy Limited 2012 6
Next generation then ocean tested and data collected to validate models
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Computational Modelling Process
Standards Recommendation (DNV-RP-H103 Modelling and Analysis of Marine Operation)
“time-domain analysis methods are usually used for prediction of extreme load effects”
“full 3 hour simulation period for each load case is recommended in the analyses”
Modelling Tools
• WAMIT hydrodynamic database of the buoyant actuator
• Matlab/Simulink time domain model of the unit
• CFD studies as required
• Wave to generator plant model
• Includes system control algorithm and fluid & pipeline
• compliance and 2nd order effects eg fluid inertia2.4
2.7
3Modelled Result
80
90
100Stroke
Rod side pressure
Confidential – Commercial in Confidence © Copyright Carnegie Wave Energy Limited 2012 7
• compliance and 2nd order effects eg fluid inertia
• ~5000 lines of code
Data input
• Spectra from highest Hs recorded over 20 minutes
• Surface elevation from highest Hmax
• 50 years return period
0 20 40 60 80 100 120 140 160 180 2000
0.3
0.6
0.9
1.2
1.5
1.8
2.1
2.4
2.7
3
Time [s]
Measured Result
0 20 40 60 80 100 120 140 160 180 2000
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100Stroke
Rod side pressure
0 20 40 60 80 100 120 140 160 180 2000
0.3
0.6
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1.5
1.8
2.1
Time [s]
0 20 40 60 80 100 120 140 160 180 200
0
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Modelling as a technology development planning tool
10
CETO
power
output
© Copyright Carnegie Wave Energy Limited 2013 8
CETO Technology
Installation aid on the CETO commercial scale foundation at Garden Island, Western Australia
10 20 30 40 50 60 70 80 90
Buoyant Actuator "BA" Diameter (m)For
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CETO 3 prototype
• 80kW unit
• Garden Island
CETO 2 prototype
• 3 x 1kW units pilot
• Fremantle
Concept Development
• Scale models and
wave tank testing.
Technology Development Road Map
Plant demonstration (CETO 5)
• Multiple x 240kW units , grid
connected array project.
• Garden Island, WA
Confidential – Commercial in Confidence © Copyright Carnegie Wave Energy Limited 2012 9Contents
CETO 1 prototype
• Proof of Concept
• Fremantle
<2004 2011- 20142004-2006 2006-2008 2010-20132009-2011
CETO 4 (independent test)
• 150kW unit.
• EDF on Reunion Island
Independent testing
• Wave tank test
• EDF & DCNS unit
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