News & Media

September 03, 2020
Minesto closes in on Vestmannasund kite launch
Minesto has today announced that the company plans to continue commissioning activities in its tidal energy project in Vestmannasund, Faroe Islands in mid-October. Minesto has also verified the area for the first proposed array installation of its tidal kite technology in the Faroe Islands.Read more »
Dr Martin Edlund, CEO of Minesto said that there has been important progress and results from the installation and commission activities that have been conducted so far in Vestmannasund. “We have generated valuable flight data and control system data, and we have verified the chain of electricity... Read more »
August 20, 2020
CEO Dr Martin Edlund: “The signals from the public sector remain positive in terms of financial support to accelerate the upscaling of renewable energy supply and to build the global economic recovery from a sustainable base.”Read more »
Significant events 1 April–30 June 2020 In early April, Minesto announced that the company and its partner, the Faroese electric utility company SEV, had been granted all necessary permits and consents for the installation of two marine power plants in Vestmannasund, Faroe Islands, where the power... Read more »
August 17, 2020
The previously issued warrant program in Minesto AB aimed at the European investor EIT InnoEnergy has been completed. A total of 8,513,595 shares were subscribed for in Minesto through the warrant program.Read more »
Through investments totalling EUR 5.5 million during the years 2015–2018, EIT InnoEnergy has received a total of 8,513,595 warrants in Minesto AB divided into three series. Following the expiry of the final subscription periods on 15 August 2020, EIT InnoEnergy has exercised all the acquired... Read more »
July 30, 2020
Minesto has completed the installation of subsea and onshore infrastructure in the company’s tidal energy project in Vestmannasund, Faroe Islands. Minesto also successfully installed the first DG100 tidal energy converter, but during the initial commissioning phase a mechanical failure occurred in...Read more »
After the concluded installation of the subsea export cable, which connects the kite system powerplant to the onshore control station, the Vestmannasund site infrastructure is now operational and the offshore site connected to the Faroese electricity grid. The DG100 kite system has been recovered... Read more »
July 10, 2020
Minesto's CEO Dr Martin Edlund has subscribed for 120,000 shares in Minesto AB through the exercise of warrants of series PO4. Minesto will thus receive just over SEK 3 million in proceeds.Read more »
At the same time, Martin Edlund has sold 119,000 shares, among other things to finance the exercise of the PO4 warrants. After the transactions, Martin Edlund's shareholding in Minesto AB amounts to a total of 141,000 shares. PO4 is one of three warrant programs aimed at Minesto employees that were... Read more »
July 03, 2020
Onshore and offshore installation work has been conducted throughout the week in Minesto’s tidal energy project in Vestmannasund, Faroe Islands, involving Minesto, SEV and supplier personnel. The subsea cable installation that connects to the electric grid was not completed as planned due to a...Read more »
The technical issue with the subsea cable is not related to Minesto’s DG100 tidal kite powerplant as such but will add to the installation time plan going forward. Minesto aims to complete the infrastructure installation during upcoming periods of favourable tidal conditions. “No matter how eager... Read more »
June 12, 2020
· Minesto invited as speaker at EU Sustainable Energy Week · Pareto Securities initiates coverage on Minesto · Photos: Minesto’s first offshore installation phase of the Vestmannasund project · Minesto shortlisted as finalist in the renowned E-Prize awardsRead more »
Minesto invited as speaker at EU Sustainable Energy Week Minesto’s CEO Dr Martin Edlund has been invited as speaker during the EU Sustainable Energy Week, a month-long series of activities arranged by the European Commission with the purpose to build a secure energy future for Europe. This year’s... Read more »
June 05, 2020
Minesto's CEO Dr Martin Edlund has subscribed for 140,000 shares in Minesto AB through the exercise of allotted warrants of series P0.Read more »
At the same time, Martin Edlund has sold approximately 88,000 shares, among other things to finance the exercise of the P0 warrants. In total, Martin Edlund's holding in Minesto AB increases by approximately 52,000 shares after the transactions. In May 2013, the Board of Directors of Minesto... Read more »
May 28, 2020
Minesto has announced a new date for the company's Annual General Meeting (AGM) 2020. The new date for the AGM is 29 June 2020 at 15:00. A new notice to the AGM was published separately on 28 May 2020 and is available in Swedish at www.minesto.com/AGM . No changes to the content or arrangement of... Read more »
May 15, 2020
· Minesto features in CNBC report · Video: Presentation at Redeye Next Generation Renewables · Analyst: Three “sustainable growth favourites” · “Wales's 'Energy Island' perfectly placed to ride crest of the wave of marine renewables sector” · Study: Tidal energy can have significant...Read more »
Minesto features in CNBC report Minesto and its collaboration partner SEV feature in an article by CNBC, one of the world's largest business news networks, reporting on the Faroe Islands transition to 100 percent renewable energy by 2030, and the joint ambition to make tidal energy a significant... Read more »

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