Federal Resources and Energy Minister Martin Ferguson said “With the Government’s assistance through the Emerging Renewables Program, this $31 million pilot project will demonstrate the potential for Carnegie’s Australian-invented and owned CETO technology to provide up to 2 MW of energy to the electricity grid.”

“This technology not only has the potential to increase investor confidence in wave projects and help unlock Australia's untapped wave energy resource, but it could also produce zero-emission desalinated seawater, which on a dry continent such as Australia is a significant additional attraction,” said Mr Ferguson.

In addition, the Western Australian Government is providing $5.5 million in funding to this stage of the project, located off Garden Island.

It is anticipated that power generated through the project could be delivered into the grid by the end of 2013.