ASX Announcement Tuesday, 18 June 2013 Australian Defence Department Hands Control of Onshore Site to Carnegie Wave Energy Wave energy developer Carnegie Wave Energy Limited (ASX: CWE) is pleased to announce that it has formally taken over control of the onshore development site at HMAS Stirling on Garden Island, following site handover from the Australian Department of Defence.

On Friday 14 June 2013, the onshore site for the Perth Wave Energy Project, located at Garden Island, HMAS Stirling, was officially handed over from the Australian Department of Defence to Carnegie Wave Energy Limited. This follows the recent procurement of key elements of the project and is an important step prior to the commencement of construction.

(L-R) Carnegie's Project Development Officer, Tim Sawyer, Captain Angela Bond, HMAS Stirling Commanding Officer, and Andrew Mercer, Carnegie's Operations Engineer

Carnegie's Project Development Officer, Tim Sawyer, said, "This is a significant step in the implementation of Carnegie's Perth Project, indicative of the significant amount of work by both the Department of Defence and Carnegie."

Garden Island Aerial Overview

Carnegie's Perth Wave Energy Project is located at Garden Island in Western Australia, home to HMAS Stirling, Australia's largest naval base. Carnegie has been working with Defence since the signing of a Memorandum of Understanding in December 2008. In July 2012, Carnegie signed power supply and grid connection agreements with Australian Department of Defence for electrical Power from the project to be supplied exclusively to Australia's largest naval base HMAS Stirling.

About Carnegie

Carnegie Wave Energy Limitedis an Australian, ASX-listed (CWE) wave energy technology developer. Carnegie is the 100% owner and developer of the CETO Wave Energy Technology intellectual property.

About CETO

CETO Power & Water

The CETO system is different from other wave energy devices because it operates under water and is anchored to the ocean floor. Several fully submerged buoys are tethered to seabed pump units. The buoys move with the motion of the passing waves and drive pumps. The pumps pressurise water which is delivered onshore via an subsea pipe.
On the shore, high-pressure water is used to drive hydroelectric turbines, generating zero- emission electricity. The high-pressure water can also be used to supply a reverse osmosis desalination plant, replacing greenhouse gas-emitting, electrically-driven pumps usually required for such plants.
CETO technology characteristics include: