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Carnegie Clean Energy to Raise Around AU$2.5 Million Via Placement; Shares Hit 2.5-Year High

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Carnegie Clean Energy (ASX:CCE) accepted firm commitments for a placement of fully paid ordinary shares to raise around AU$2.5 million, before costs, according to a Wednesday Australian bourse filing.

The company will issue 13.9 million shares at an issue price of AU$0.18 per share. All placement shares will be issued under its placement capacity and no shareholder approval will be required.

It will use the proceeds for the development of a multi-megawatt Ceto wave energy technology array at the Biscay Marine Energy Platform, business development activities in Europe and the US, the deployment and operation of Ceto via the Achieve Program, as well as for advancing the MoorPower commercial pilot.

Carnegie Clean Energy's shares jumped nearly 18% in recent trading on Wednesday and earlier hit their highest since November 2023.

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