Aug 3 (Reuters) - Carnegie Wave Energy Ltd CWE.AX :
* $4M Scottish government grant CWE.AX
* Says award of a £2M grant from the Scottish government's Wave Energy Scotland
* Project is fully funded by wes
* Says grant for development of a universal power take off system to convert mechanical energy to electricity
* The project will take 18 months to design
* Says full scale wavepod system will be targeted for use in carnegie's first UK project due for operation in 2018
* Source text for Eikon ID:nASX9GpwmK