Carnegie shareholders approve EMC buy, name change

The shareholders of Carnegie Wave Energy have approved the acquisition of Energy Made Clean (EMC), along with the company’s plans to change its name.

Australian wave energy developer informed that its shareholders voted overwhelmingly in favor of acquiring the remaining 65% of solar and battery microgrid developer EMC, clearing the final condition precedent to Carnegie’s 100% acquisition of EMC.

The transaction will be executed next week, December 6, 2016, Carnegie said.

The shareholders have also approved Carnegie’s plans to change the name of the company to Carnegie Clean Energy Limited.

The name change follows the acquisition of EMC, and reflects Carnegie’s expanded clean energy interests across wave, solar, battery and microgrids.