Carnegie Clean Energy sees rapid growth after embracing solar power

[WorldNews]

By Sonali Paul MELBOURNE (Reuters) - Carnegie Clean Energy expects annual revenue to surge 17-fold over a two-year period, its managing director told Reuters, thanks to a push into solar power with the recent purchase of fellow Australian firm Energy Made Clean (EMC). The company, which recently changed its name from Carnegie Wave Energy, sees revenue rocketing from A$1.7 million last year to more than A$30 million by 2018, mainly due to the targeted revenue growth of solar and battery company EMC. "That is a game changer for Carnegie, where we've gone from being an R&D company to being a company with rapidly growing revenues," Managing Director Michael Ottaviano said in an interview on Tuesday.

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