During the previous trading session, Carnegie Clean Energy Ltd (OTC: CWGYF) closed at $0.0070, up 52.17%. A total of 278.28 million shares were traded during the session, ranging from $0.0031 to $0.0077.
Carnegie Clean Energy Limited is a company dedicated to the development of wave energy technologies. The Company has set up procedures to promote and support good corporate governance. It is the Board’s responsibility to establish the company’s corporate governance framework.
Carnegie Clean Energy Limited (CWGYF) is using WAVE TECHNOLOGY (CETO Technology) to create energy. CETO’s potential to revolutionize renewable energy production owing to its name, which comes from a Greek sea goddess. By using CETO, ocean waves can be converted into grid-ready electricity. CETO uses a point absorber type wave energy technology with a fully submerged structure. An underwater buoy is a few metres below the ocean’s surface that follows the ocean’s waves. These orbits drive a power takeoff (PTO) system that converts them into electric power.
With on-board power generation and multiple moorings and power takeoff modules, CETO 6 builds on the intellectual property first filed by Carnegie in 2013. In addition to the aforementioned patent, this new US patent was granted on 6 November 2017. These features increase unit efficiency and power generation.
- Ocean wave energy is converted into carbon-free electricity
- Marine life is attracted to it because it has minimal visual impact and is environmentally friendly.
- Submerged and located deep within the water, away from breaking waves and beachgoers.
- In-ocean operational testing of tens of thousands of hours.
In order to improve performance, both dolphins and pro surfers have developed expertise in wave forecasting. Carnegie Clean Energy has been using the latest AI techniques to accomplish the same objective.
ML Wave Predictors have been developed by Carnegie Clean Energy Ltd (OTC: CWGYF) for CETO’s advanced controller and will ultimately enable enhanced power production and survivability. Real-time prediction of wave and hydrodynamic forces is necessary for advanced controllers. With Machine Learning, these kinds of problems can be solved much faster than accurate algorithms based on physics. They can solve these problems within a fraction of a second.
Renewable energy has made its inroads slowly into the energy mix of various countries around the world in recent years due to increased global concerns over climate change and global warming. Extreme weather events also have heightened fears and concerns about global warming. The right energy companies can still be picked up at a good price even after the recent rush. With the right energy companies, your portfolio will look different in the future and more profitable.