Carnegie Clean Energy (ASX:CCE) has signed a memorandum of understanding with Chugachmiut to explore the development of its energy transfer ocean (CETO) projects in Alaska, US, according to a Tuesday Australian bourse filing.
Chugachmiut has been exploring the potential for wave energy to provide clean, affordable, and reliable electricity to native tribes within the Chugach region.
The company's shares rose 8% on market close.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.