A patented technology that delivers Zero-Emission Power and Freshwater from the energy of the ocean's waves. CETO is the only wave energy technology that pumps high pressure seawater ashore making it the most efficient and cost effective way to desalinate freshwater from wave energy.

In May 2009, Carnegie Corporation (ASX: CNM) and Renewable Energy Holdings Plc (AIM: REH) announced by way of a binding Heads of Agreement, that Carnegie will purchase the CETO IP and Global Development Rights off REH in return for REH taking a 35% shareholding in Carnegie. This transaction is subject to Carnegie shareholder approval. Carnegie will now jointly develop CETO Wave Projects in the Northern Hemisphere with EDF EN.