One of the directors of Carnegie Clean Energy has struck a deal to help fund its operations while administrators attempt to recapitalise its wave power business.
A Carnegie statement today said director and shareholder Grant Mooney, a Perth corporate adviser, along with stakeholder Asymmetric Creditor Partners had agreed in principle to provide interim funding support.
Under a recapitalisation proposal, Carnegies solar-focused Energy Made Clean business would be sold or wound down.
There will be no further losses from this business that will be funded by shareholders, the statement said.
The recapitalisation proposal being developed will allow shareholders to participate in that future through an equity raising whilst dealing with the curren…
Read the full article at: https://thewest.com.au/business/energy/carnegie-clean-energy-director-grant-mooney-agrees-to-back-collapsed-wave-power-developer-to-progress-rescue-plan-ng-b881139469z