Carnegie Clean Energy (ASX: CCE) has received a notable show of confidence in their wave energy technology with global giant Hewlett-Packard (HP) entering into a collaboration with the Perth-based company to further advance its capabilities.
The collaboration will extend Carnegie’s artificial intelligence developments where their CETO technology is deployed in oceans to predict wave formations, enabling devices positioned closer to shore to be able to re-position themselves enabling maximum energy to be captured and stored.
Hewlett-Packard Labs will contribute their reinforcement learning (RL) expertise and computational resources to Carnegie’s intelligent controller.
The application of HP Labs is expected to enable CETO to self-learn and apply optimal responses to predict waves via machine learning. As part of the collaboration, Carnegie is aiming for the controller to ultimately be developed toward Levelised Cost of Energy (LCOE) analytics whereby CETO would track fatigue and entirely avoid larger waves that might cause damage to the technology.
While no commercial terms regarding the collaboration have been disclosed, this application of clean energy conversion is just another branch of Australia’s rapidly advancing push towards renewable energy sources.
Commenting at Carnegie’s AGM last week, Chairman Terry Stinson referenced the rising need for clean energy sources being fundamental towards the global adoption of electric vehicles.
“In the UK, government is pushing to pull back the date for all passenger road vehicle transport to be electric by 2030, an incredibly aggressive goal.”
“To feed all the new electric machines with clean electricity, new sources of renewable energy will be required. The past year’s achievements have reinforced our belief that the CETO technology can be a major contributor to supplying this renewable energy and making our planet a cleaner and better place to live.”
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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