AUSTRALIA: Carnegie's CETO (Cylindrical Energy Transfer Oscillating) wave-power system involves an array of submerged buoys tethered to seabed pump units. Passing waves move the buoys up and down, driving the pumps, which pressurise sea water and send it ashore, where it drives turbines. Carnegie said it will apply for funding from the federal gov-ernment's AUS$ 5 00m ( $ 3 3 0 m ) Renewable Energy Fund.