Proxy Analysis For personal use only · Market capitalization $42m Debt Nil Cash & receivables $5m...

© Copyright Carnegie Wave Energy Limited 2012 1

For Against Discretionary Chairman Abstain Resolution Votes Votes Votes Votes

(In favour) Votes

Adoption of Remuneration Report

324,561,523

7,098,397

2,678,745

1,628,372

10,849,036

Re-election of Mr Kieran O’Brien as a Director

339,001,026

2,823,430

4,446,617

0

545,000

Approval of 10% Placement Facility

335,875,338

5,428,118

4,446,617

0

1,066,000

Ratification of Previous Share and Option Issue

302,841,764

4,441,689

4,976,617

0

34,556,003

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Annual General Meeting

2nd November 2012

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• First Aid & bathrooms located to your left as you come through the main entry.

• Refreshments are provided to your left.

• We have 3 fire wardens here today. In an emergency look for those wearing yellow and orange hard hats.

• Emergency evacuation muster points – on grass in front of helipad property and in the rear car park of our facility.

• This is a no smoking site.

• No photography is permitted and guests must be accompanied by a CWE staff member when outside inspecting the CETO equipment.

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The information contained herein has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of any offer to buy or sell any security or to participate in any trading strategy or to enter into any transaction. If any offer of securities is made, it shall be made pursuant to a definitive offering memorandum prepared by or on behalf of any fund or other issuer which would contain material information not contained herein and which would supersede this information in its entirety.

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© Copyright Carnegie Wave Energy Limited 2012 5 CWE Overview

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Carnegie Wave Energy Limited - Snapshot

• ASX-listed, inventor, owner and developer of proprietary wave energy technology ("CETO")

• 25 engineering, commercial, and administration staff

• International Board of Directors

• Australian owned, headquartered in Fremantle, Western Australia

• CETO developed and proven over 10 years and $60m

• 115 patents or patents pending globally (up from 90 in 2011)

• Developing the only multiple-unit, grid-connected wave project in the world

Australian Stock Exchange (ASX) - CWE Shares on issue 900m Share price 3.9c 12-month share price range 3c – 8c Average daily volume 1,000,000 shares Market capitalization $42m Debt Nil Cash & receivables $5m Grants $15.4m Equity line $16m

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Board of Directors

Dr. Michael Ottaviano, MD & CEO • Technology and R&D background • Clean Energy Council board member • Member of Australian Government's

Energy White Paper committee • CEO since 2006, oversaw increase in

market capitalisation from $5M

Kieran O'Brien, Executive Director • 15 years as Executive of Ireland's Electricity Supply Board • Fmr Chairman of the Board of ESBI, Alberta • Formerly Acting Secretary General of the World Energy Council • Chairman of the Energy Standing committee of the Irish Academy of Engineering

Jeff Harding, Non-Exec Director • Previously CEO of Pacific Hydro,

Australia's largest renewable energy developer

• Oversaw the international expansion of Pacific Hydro with growth in market cap from A$5M to over A$1bn

• Chairman of AIM-listed Ceramic Fuel Cells

Grant Mooney, Chairman • Extensive experience in capital raisings,

M&A and corporate governance • Director and company secretary to

several ASX-listed companies across a variety of industries including technology and resources

John Leggate, Non-Exec Director • Former Chief of Information of BP • Serves as Senior Advisor to CleanTech

Advisory Council at Vantage Point Capital Partners

• Honoured as Commander, The Most Excellent Order of the British Empire by the Queen in 2004.

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Dedicated Commercialisation Team F

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Share Price Performance - YTD

CWE

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Competitive Landscape

• CETO is the only ocean-tested wave energy technology globally that is both fully submerged and generates power and desalinated water onshore.

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CETO Wave Energy – renewable water & power

CETO aims to be the cheapest and most robust globally adopted wave technology

• Engineered simplicity – pumps offshore, power and water production onshore, proven components

• Scalable – power curve with buoy diameter, modular array design, global resource & market

• Flexible - variety of water depths, swell directions, seafloor conditions, offshore power platform option

• Minimal impact - no visual impact, co-exists with marine life, small footprint

• Desalination - hydraulic power allows efficient “direct desalination“ independent of power production

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© Copyright Carnegie Wave Energy Limited 2012 12 Market Overview

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Global Renewable Investment (2004 – 2011)

US$54b

US$260b

0

50

100

150

200

250

300

2004 2011

US$

b

2011 annual global investment in renewables was $260b compared with $247b in 2010 and just $54b in 2004

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Scotland – 35% renewable now, 50% in 2015, 100% in 2020? F

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Scottish Power Tidal Deployment

Hammerfest Strom 1MW Tidal Turbine

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China Solar Target to 21,000MW by 2015 F

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Japan Renewables Focus Post-Fukushima

Tsunagari Nukumori Project utilising solar in one of the worst hit regions after the tsunami

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France 6000MW Offshore Wind Tender

Round 1 tender of 2000MW was won by EDF (1500MW) & Ibedrola (500MW) in April 2012

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UK Carbon Trust forecasts IEA, EIA, Frost & Sullivan, company estimates

Global Wave Energy Market

• $100 billion in estimated annual revenue by 2025 • Equates to 2.5% of current global electricity production

• Global marine energy sector worth US$760 Billion by 2050 A

B

A B

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Typical Resource Profile Wave Wind Solar

Wave Energy Advantage – stability & predictability

Wave energy is generally predictable 2-3 days in advance of production

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© Copyright Carnegie Wave Energy Limited 2012 21 Recent Progress

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Completed analysis of CETO 3 and independent verification

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$16m in Federal and State Funding for Perth Wave Energy Project

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Power supply & licence with Australian Department of Defence F

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Completed Preliminary Design for Perth Wave Energy Project

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Launched CETO 5 Generation Design F

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© Copyright Carnegie Wave Energy Limited 2012 27 Current Focus

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Perth Wave Energy Project (PWEP) F

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http://www.defence.gov.au/�


PWEP Key Objectives

1. Demonstration and verification of next generation, CETO 5 unit 2. Production of reliable, grid-compliant electricity 3. Sale of electricity to credible off taker 4. Demonstration and verification of CETO array 5. Demonstration of new installation and retrieval method 6. Documentation of environmental interactions 7. Demonstration of successful, “no harm” CETO project delivery including

system operation and social impact

Successful PWEP delivery unlocks a global, untapped wave market F

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PWEP - Governance & Project Management

Delivery of Plans for each Package

Overall Project Responsibility

Establish & Maintain Project Budgets, Plans and

Registers

Project Steering Committee

Project Manager

Package Management

Permits,

Approvals & Stakeholder Management

System Architecture

& Fluid CETO Unit Pipelines Foundations

Onshore

Plant

Array Plant Site Characterisation

Planner/Scheduler

Corporate Governance including QHSE Policies

Carnegie's Board of Directors

Budget

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PWEP – Environment, Permits & Approvals

• Terrestrial Environmental Approvals • Marine Environmental Approvals • Native Title • Offshore Site & Easement Tenure • Maritime Safety Approval • Onshore Planning Approval

All on track for achievement by end of 2012.

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PWEP - Community Consultation

• Formal community consultation plan • Website, newsletters, face-face, open

days, surveys • Open and transparent • Ongoing consultation and feedback • Over 140 consultees to date

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PWEP – Detailed Design F

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PWEP – Detailed Design

• On track for completion by end of 2012.

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Reunion Island – CETO 4 by EDF & DCNS F

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Pipeline Development

Bermuda

Ireland

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Upcoming Milestones

• 2010/11:

Perth site assessment & selection

MOU with Dept of Defence

Single unit test (CETO 3) at project site

Preliminary Perth project design

• 2012:

$16m in Government grants secured

Power purchase agreement with Dept of Defence

• Environmental & planning approvals

• Detailed Design of Perth power project

• CETO 4 deployment by EDF/DCNS on Reunion Is

• 2013/14:

• Construct and commission Perth power project

• First power sales

• CETO desalination demonstration

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Proxy Analysis For personal use only · Market capitalization $42m Debt Nil Cash & receivables $5m...

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Transcript of Proxy Analysis For personal use only · Market capitalization $42m Debt Nil Cash & receivables $5m...