News & Media

Minesto to complete Vestmannasund installation during upcoming tidal windows

July 03, 2020
Press releases
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 »

Minesto News Update 12 June 2020

June 12, 2020
Press releases
· 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 »

Minesto's CEO subscribes for shares through P0 warrants

June 05, 2020
Press releases
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 »

New date for the Annual General Meeting of Minesto AB

May 28, 2020
Press releases
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 »

Minesto News Update 15 May 2020

May 15, 2020
Press releases
· 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 »

Notice of the Annual General Meeting of Minesto AB

May 08, 2020
Press releases
Minesto AB has today published the Notice of the company's Annual General Meeting (AGM) 2020. The AGM will be held in Gothenburg on 9 June 2020 at 15:00 CEST.Read more »
The Notice was published in Swedish today and is available at Minesto’s website www.minesto.com/AGM . For information on the AGM in English, please contact ir@minesto.com . For additional information please contact Magnus Matsson Head of Communications & Investor Relations, Minesto AB ir@... Read more »

Strike price for Minesto’s TO3 warrants set

April 30, 2020
Press releases
The strike price for warrants TO3 in Minesto AB has been set to SEK 15.79 in accordance with the applicable terms and conditions. One (1) TO3 warrant entitles to subscribe for one (1) share in Minesto during the period up to and including 30 April 2021.Read more »
In accordance with the applicable terms and conditions, the strike price for warrants TO3 has been adjusted to the volume-weighted average price of Minesto’s share during the period 20 April 2020 until and including 30 April 2020 multiplied by 1.10. This means that the strike price for the TO3... Read more »

Interim Management Statement 1 January–31 March 2020

April 23, 2020
Press releases
CEO Dr Martin Edlund: “Our current strong cash position allows us to focus on creating industrial value and promote the market uptake of our unique product. This fits well with the bigger picture and macro trends where we see and hear encouraging messages from EU leaders and politicians on the...Read more »
Significant events during the reporting period In February, Minesto signed a power purchase agree­ment (PPA) with the Faroese electric utility company SEV. The PPA comprises both the planned installations of two 100kW systems of Minesto’s subsea kite technology and an additional 2MW capacity... Read more »

Minesto secures all permits for Faroe Islands’ installations

April 01, 2020
Picture of the Vestmannasund strait in the Faroe Islands. Photo: SEV
Press releases
Marine energy developer Minesto and its collaboration partner, the Faroese electric utility company SEV, has been granted all necessary permits and consents for the installation of two grid-connected tidal kite systems in Vestmannasund, Faroe Islands.Read more »
“We have had great support by SEV and the Faroese authorities to reach this crucial achievement. SEV has made terrific work to secure all necessary permits for our first installations in the Faroe Islands through a very efficient process”, said Dr Martin Edlund, CEO of Minesto. The granted permits... Read more »

Minesto publishes Year-End Report 2019

March 19, 2020
Press releases
CEO Dr Martin Edlund: “At the beginning of 2020, Minesto holds a stronger cash position than ever. This means that we can increase the company’s commercial activity, with the goal of entering into further customer collaboration arrangements and secure project financing for the expansion of larger...Read more »
Significant events October–December 2019 Minesto is granted EU funding for site project in France. Minesto carries out a directed issue of units of SEK 60 million. After the end of the fiscal year Minesto carries out an over-subscribed rights issue of units of SEK 86 million. Minesto signs a power... Read more »

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