Shareholders at a meeting today (4th September) gave the go ahead for the Carnegie Corporation to acquire the intellectual property and Northern Hemisphere development rights for the CETO Wave Energy Technology. In  brief statement issued following the meeting, the company said it will now work towards finalizing the remaining outstanding conditions to the transaction, and it is scheduled to complete in the coming weeks.

The shareholders also gave the nod to a name change for the company which will become Carnegie Wave Energy Limited.