Will You Assist Save Renewable Startup Carnegie Vitality?
Visitor essay by Eric Worrall
ABC reporter Rebecca Turner claims Carnegie haven’t revealed the outcomes of their wave vitality experiment.
Carnegie Clear Vitality undertakes capital elevating in a last-ditch bid to keep away from liquidation
By Rebecca Turner
Up to date Thu at three:42pm
Because it makes what could possibly be a ultimate roll of the cube for its survival, collapsed wave vitality hopeful Carnegie Clear Vitality remains to be not disclosing the efficiency of its most dear asset — its CETO wave expertise.
Key factors:
Carnegie is dealing with liquidation until it raises $5.5 million in capital by subsequent week
The agency’s CEO can’t say how a lot vitality its CETO 5 expertise produces
One analyst says buyers “must be a little bit of a masochist” to reinvest
Carnegie is within the strategy of making an attempt to boost as much as $11.5 million in capital to pay collectors, together with board member and former AFL commissioner Mike Fitzpatrick.
If it doesn’t increase the minimal quantity of $5.5 million by subsequent Wednesday, the previous renewable vitality darling is dealing with the probably consequence of liquidation.
Its 1000’s of shareholders, predominantly small buyers, are being inspired to put money into the capital elevating, which gives them 4 shares at a worth of $zero.001 for every share they maintain.
Carnegie has been creating its prized CETO wave vitality expertise for greater than 15 years and has attracted tens of thousands and thousands of taxpayer from each federal and state governments to commercialise the expertise.
…
Learn extra: https://www.abc.internet.au/information/2019-08-29/carnegie-clean-energy-capital-raising-to-avoid-liquidation/11460640
Cynics amongst you is likely to be tempted to consider the rationale the Carnegie CEO was so sketchy in regards to the outcomes of their CETO wave vitality trial is as a result of their expertise doesn’t work.
However this certainly can’t be the case; In any case, Carnegie obtained thousands and thousands of of presidency funding, and everyone knows how rigorous public sector oversight of taxpayer’s cash is, particularly relating to funding renewable vitality initiatives.
Like this:
Loading…