I am most grateful to an Australian reader to alerting me to Carnegie Corp - a company which has a joint stake with Renewable Energy Holdings in the CETO wave technology. Carnegie also has some proprietary clean coal technology - a category incidentally I'm in 2 minds whether to include on AEI.

But the CETO could be the first wave technology deployed in scale anywhere in the world.

The experimental CETO seen here is waiting to be deployed as it would typically be hidden below the surface in an array exploiting the kinetic energy of the sea current. Just like windfarms, you'd want to locate these generators where the energy is greatest and looking at this map, you can see the appeal for Australia.

It clearly has political support in Australia - see this video clip here - with the Australian Federal Minister for Industry maybe overstating the case and calling it the Holy Grail. You may also want to check out the Ceto home website as this has a bit more information than either href="http://altenergyinvestor.advfn.com/carnegie.html">Carnegie Corp - or Renewable Energy Holdings do.I also recommend watching this video clip from the CETO site.

Australia can pretty much lay claim to the cheapest energy in the world - coal and it seems that scaled-up CETO farms of hundreds of megawatts are still a few years off. Carnegie though along with REH should be both be companies to watch for their exposure to this technology.