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Carnegie Clean Energy Limited (ASX:CCE)

ALERT: Price-sensitive ASX Announcement for CCE
Current share price for CCE : $0.145 -0.04 (-21.62%)+
Announcement
Release
27 Aug 2026 7:59AM
Price at Release
$0.185
Full Release
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Summary
Carnegie Clean Energy announced that it has executed a Deed of Variation increasing the commitment amount under its loan agreement with Ballamena Pty Ltd ATF Ellann Finance Unit Trust by $1 million, taking the total commitment to $3.5 million, to provide temporary cashflow support for the ACHIEVE Programme while there is a timing gap between procurement and assembly costs and the receipt of retrospective milestone payments from funders. The loan, originally announced in October 2024 and previously varied in July 2026, has been used by Carnegie subsidiaries CETO Wave Energy Ireland and Carnegie Technologies Spain for procurement expenditure linked to the deployment of the CETO wave energy technology in the Basque Country, Spain. Key existing terms remain unchanged, including Carnegie as borrower, Ballamena as lender, a final repayment date of 30 June 2027, interest at 15% per annum, no penalty for early repayment, and a Featherweight General Security Agreement, while the variation also provides the lender with 5 million options at an exercise price of $0.27 expiring on 14 July 2029. The announcement also outlines that the ACHIEVE Programme is supported through EuropeWave, Spain’s RENMARINAS Demos Programme and a Basque Government EVE grant, and is intended to advance CETO’s commercialisation through deployment and operation at the BiMEP site in the Basque Country.
Key Points
  • Carnegie Clean Energy increased its ACHIEVE-related loan commitment by $1 million through a Deed of Variation.
  • The total commitment amount under the loan agreement is now $3.5 million.
  • The loan provides temporary cashflow support for the ACHIEVE Programme due to delays between expenditure and retrospective milestone payments.
  • Funds have been used by CETO Wave Energy Ireland and Carnegie Technologies Spain for procurement expenditure related to CETO deployment in the Basque Country.
  • The loan is to be repaid from future ACHIEVE milestone payments and research and development tax incentives.
  • Key unchanged loan terms include borrower Carnegie Clean Energy Limited, lender Ballamena Pty Ltd ATF Ellann Finance Unit Trust, final repayment date of 30 June 2027, and interest of 15% per annum.
  • Carnegie may repay part or all of the loan early without penalty.
  • The lender holds a Featherweight General Security Agreement.
  • The variation includes 5 million options to the lender with an exercise price of $0.27 and expiry on 14 July 2029.
  • The ACHIEVE Programme supports deployment and operation of a CETO prototype at BiMEP in the Basque Country as part of Carnegie’s commercialisation pathway.
  • ACHIEVE is supported through EuropeWave, RENMARINAS Demos and the Basque Government’s EVE grant.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.