UIL buys shares in wave technology developer Carnegie Wave Energy

Mon, 30 May 2016

By Sophie Boot May 30 (BusinessDesk) - Long-standing Infratil investor UIL, formerly known as Utilico Investments, has become a shareholder in ASX-listed Carnegie Wave Energy. UIL acquired 5.07 percent of Carnegie from Renewable Energy Holdings for an undisclosed price, it said in a statement. The acquisition makes UIL the second-largest shareholder in Carnegie, and there is a 12-month trading escrow on the shares. Carnegie is the owner and developer of patented CETO wave energy technology which converts ocean swells into zero-emission...

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