Minesto enhances and extends its IP protection with approved patent

April 16, 2021

Leading marine energy developer Minesto reinforces its already extensive patent portfolio covering the company’s unique ocean energy technology. Minesto has been granted a new patent by which the company extends the protection of its core technology.

The approved patent concerns a technical innovation that Minesto developed and has verified in its tidal energy project in the Faroe Islands. Among other things, the solution provides greater flexibility as to which sea depths Minesto's tidal kite systems can be installed at.    

“We continue to strengthen and extend the protection of our intellectual property and the industrial value linked to Minesto’s technology. Our IP strategy is as simple as it is effective: we systematically extend the protection of the core technology by ‘shielding’ the main patent with complementary patents related to supporting subsystems and offshore processes. Through this, we create significant commercial value for Minesto and its shareholders”, said Dr Martin Edlund, CEO of Minesto.

The approval of the new patent means that the patent protection surrounding Minesto’s unique ocean energy technology called Deep Green now consists of eleven patent families. In total, Minesto now has 92 approved patents, making the company’s patent portfolio one of the strongest – if not the strongest – in the industry.

“Our strong IP protection creates competitive advantage and a foundation for revenue opportunities from product sales, sale of services, and geographical licensing”, said Martin Edlund.

For additional information please contact

Martin Edlund, CEO
+46 31 29 00 60
press@minesto.com

About Minesto

Minesto is a leading marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling commercial power production from the ocean.

Minesto’s award winning and patented product, Deep Green, is the only verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents.

With more than €40 million of awarded funding from the European Regional Development Fund through the Welsh European Funding Office, European Innovation Council and InnoEnergy, Minesto is the European Union’s largest investment in marine energy to date.

Minesto was founded in 2007 and has operations in Sweden, Wales, Northern Ireland and Taiwan. The major shareholders in Minesto are BGA Invest and Midroc New Technology. The Minesto share (MINEST) is traded on Nasdaq First North Growth Market. Certified Adviser is G&W Fondkommission, email: ca@gwkapital.se, telephone: +46 8 503 000 50.

Read more about Minesto at www.minesto.com

Press images and other media material is available for download via bit.ly/Minesto_media.