In 2011 the race for alternative energy is in full swing on the global playing field. Many companies are exploring new and innovative ways to harness the worlds naturally occurring energy resources in economically feasible ways. Strong ploical forces and increased public awareness of global warming are driving exciting new developments in this market. According to a "Global trends in sustainable energy investment" report, clean energy project spending increased from 59 billion euros in 2006 to 94 billion euros in 2007 - that is a 60% increase! This sector strength is expected to remain strong as we transition from fossil fuels to clean energy sources. World governments are creating policies to help accelerate further innovation and new technological developments via increased subsidies and the introduction of carbon credit economics. The Kyoto Accord of 2000 promises that G1 nations will limit their carbon output by 50% (from year 2000 levels) by 2050. Some experts think we can get there before then while others are not so sure. As oil supplies begin to peak, drilling gets more expensive, and demand for crude remains strong, it is estimated that alternative energy sources will become increasingly attractive relative to coal and oil. Despite increasing expenses to produce traditional energy sources, there is adoption resistance for new technologies by larger energy companies who know the return on investment of "proven" technologies like coal, oil, and gas. They are less willing to take a chance on some of these newer technologies. Small companies world-wide are answering the call for clean energy production and some of these companies are making some big waves in the media. Many of these companies are focused on more popular technologies like solar and wind, but others are exploring less conventional sources, like our oceans. The waves in our oceans may well prove to be a major contributor as one of the most important solutions to curb the climate crisis. Scientists estimate that our world's oceans contain enough energy to provide 10 times the world's current total energy consumption.

There is an Australian company hoping to cash in on creating energy from the vast amounts of energy in our oceans. Carnegie Limited Corporation has been developing a wave technology called CETO for the last 8 years. Since 2000, the company has developed and tested 3 different designs of their CETO invention and they are now ready to begin commercial development and product rollout. CETO is the brainchild of inventor and successful entrepreneur, Alan Burns. Simply put CETO is a giant pump that is submerged under water and uses the ebb of ocean waves to drive a piston that produces high pressure sea water. The pump is driven by a large bouy tethered to the top of the CETO unit. When a wave passes, upward tension is exerted as the bouy "floats" up; this motion draws in high pressure water into a connected pipe system. As the wave recedes, the reverse shut off valve traps the water and pushes it ashore, and the cycle repeats itself with the next wave. The high pressure water can be used for two purposes, it can be connected to turbines to produce electricity or it can be connected to reverse osmosis membranes to produce fresh water. There are several advantages of this system vs. other wave energy technologies: 1) Everything is submerged in the water so there is no visual impact and 2) energy creation happens onshore so there are no high voltage wires carrying electricity underwater.

Sources:
http://www.carnegiewave.com/