A$4.5m Strategic Investment by Carnegie Wave Energy

April 2016

In April 2016, Carnegie Wave Energy Limited (“Carnegie”) completed a strategic investment in the emerging Western Australian-based renewable development group, Energy Made Clean (“EMC”).

The transaction comprised 3 parts:

  1. The acquisition by Carnegie of a 15% interest in EMC in exchange for A$1.5m in Carnegie scrip
  2. A$3.0m investment by Carnegie in EMC, taking its combined shareholding to 35%
  3. A strategic alliance between EMC and Carnegie, pursuant to which the parties will share resources, skills and expertise to pursue renewable energy projects that require a combination of wave, solar and energy storage technologies

Azure acted as financial adviser to EMC on the transaction.