It was valued at $83 million in June 2017, but Carnegie Clean Energy's CETO wave technology is now worth just $15 million, despite governments pouring tens of millions into the supposedly world-leading company.
Despite hundreds of millions of dollars' worth of investment, the value of Carnegie Clean Energy's supposed world-leading wave technology has plummeted from $83 million to $15 million in the latest sign the company is on the edge of collapse.
However, the company failed to meet its reporting deadline, resulting in it being suspended from the ASX. But it also raised questions over why taxpayers continued to fund the significant financial risks of developing this technology and why they — and shareholders — have not been told how much energy it is producing.
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