Carnegie Clean Energy Limited has announced a significant milestone in its development of clean ocean energy technology for the aquaculture industry. The company has secured $335,020 in cash funding from the Blue Economy Cooperative Research Centre for the preliminary design of its MoorPower Commercial Pilot Project. This funding will support efforts to refine the MoorPower system—an innovative solution derived from Carnegie’s CETO wave energy converter—which is designed to replace diesel generators on operating feeding barges. As part of the initiative, Carnegie will work closely with partners including Huon Aquaculture, Advanced Composite Systems Australia, the University of Tasmania, and several key subcontractors. The design process will scale and optimize the MoorPower system based on insights gained from Carnegie’s successful MoorPower Scaled Demonstrator Project in 2024. The project will also conduct a detailed assessment of aquaculture operational parameters, such as existing mooring system configurations, barge movements, and compliance survey requirements, ensuring that the system meets commercial aquaculture demands. The preliminary design phase forms a crucial bridge between Carnegie’s earlier scaled demonstration and the forthcoming Commercial Pilot deployment. With an additional in-kind contribution from project partners amounting to approximately $41,700, the comprehensive development effort underlines a collaborative approach within the Blue Economy sector. The project aims to unlock future investment needed to finance the eventual construction and operation of the commercial MoorPower system, potentially transforming energy usage in offshore aquaculture by reducing reliance on diesel generators. The news suggests a bullish outlook for Carnegie Clean Energy Limited. The secured funding and strong collaborative network signal increasing investor confidence in innovative marine renewable energy solutions. The potential cost savings and environmental benefits render the project a promising candidate for future commercialization. However, a bearish sentiment may stem from the early-stage nature of the design efforts. The successful scaling of prototype technology to a fully operational commercial system remains subject to technical and market challenges, meaning that continued investment and further validation will be essential before the anticipated benefits are fully realized.