News & Media

Minesto to enhance Deep Green product range and intensify market penetration activities

January 15, 2018
Press releases
Minesto intends to develop a smaller Deep Green device, DG100, which will provide the company with an additional commercial product to open new markets and business opportunities, including those in Asia. At the same time, Minesto intends to intensify and expand its activities for market...Read more »
The preparations in Wales for offshore testing of Minesto's first commercial-scale Deep Green device is now in its final phase. Installation is due to commence in April 2018, with the ambition to generate electricity during the third quarter 2018. This is a key milestone in the overall development... Read more »

Minesto’s technology transforms ocean energy into one of the most cost-effective energy resources, new Cost of Energy analysis states

October 12, 2017
Illustration of Minesto's ocean energy device Deep Green and its subparts
Press releases
An updated Cost of Energy analysis of Minesto’s unique ocean energy technology shows substantial improvements compared to previous estimates. “These new results convince me that our technology is transforming ocean energy into one of the most cost-effective energy resources”, said Dr Martin Edlund...Read more »
As part of its first commercial-scale project, Minesto together with ITPEnergised has completed an updated Levelized Cost of Energy (LCOE) analysis of Minesto’s marine energy converter based on new knowledge of the system, its potential and its costs. Projections now show that Minesto’s LCOE will... Read more »

Minesto strengthens its commercial position with management team appointments

September 15, 2017
Press releases
Minesto has hired David Collier, with 30 years of experience in offshore energy, as new COO. At the same time, Bernt Erik Westre has been appointed as new CTO to replace leaving Heije Westberg. “With these changes, we strengthen our commercial position and put a sharper focus on customer-driven...Read more »
David Collier joins Minesto as new Chief Operating Officer (COO), adding a track record to the management team matched by few others in the ocean energy industry. For the last 30 years of his career, he has spent the vast part in the offshore energy sector building and leading engineering teams and... Read more »

Minesto awards new foundation supplier

August 15, 2017
Press releases
Minesto has awarded Jones Bros Ruthin (Civil Engineering) Co Ltd the contract to construct the foundation for Minesto’s first commercial-scale tidal energy power plant. Due to the delivery time for the new foundation, the first installation in Holyhead Deep will be moved forward. “We are well...Read more »
Minesto has completed the procurement of a new foundation construction supplier, following the announcement by the previous contractor in July that it could no longer fulfil its commitments to the project. The new contract has been awarded to the Welsh outfit Jones Bros Ruthin (Civil Engineering)... Read more »

Minesto to engage new supplier of GBS foundation

July 04, 2017
Press releases
Minesto has decided to engage a new supplier for the construction of a gravity-based structure (GBS) foundation for the company’s first Deep Green installation in Holyhead Deep, as a consequence of the discontinuation by current supplier Ocean Resource Ltd. “We have taken immediate actions to...Read more »
Ocean Resource Ltd, who was originally awarded the delivery of the GBS foundation for the first commercial-scale installation of Minesto’s marine energy power plant Deep Green, has informed Minesto that they can no longer meet their financial commitments to their subcontractors, leaving them unable... Read more »

Minesto awarded consent for Holyhead Deep installation

April 19, 2017
Picture of the South Stack lighthouse on Holy Island, off which the Holyhead Deep is located.
Press releases
Leading tidal energy developer Minesto has taken yet another important step towards commercialisation of its unique Deep Green technology in Welsh tidal streams, as the company has received marine license for a 0.5MW installation in Holyhead Deep.Read more »
Consenting authority Natural Resources Wales has approved a marine licence application by Minesto for the installation and operation of a 0.5MW Deep Green power plant in Holyhead Deep off the coast of Anglesey. A marine license is required for all kind of offshore construction work and deposits in... Read more »

Minesto’s warrant program completed; raises SEK 75M

March 06, 2017
Press releases
Minesto’s warrant program TO1 is now completed with 91 percent of outstanding warrants being exercised. This means that Minesto will add approximately 75 SEK million in proceeds to the further development of the unique tidal energy technology Deep Green.Read more »
The subscription period of the warrants "Minest TO1" issued in connection with Minesto’s IPO in November 2015 ran 1–28 February, 2017. In total, 11,931,743 new shares were subscribed, corresponding to a subscription rate of 90,7 percent. This means that Minesto will add a total of 75,2 SEK million... Read more »

Minesto and Stena Line engage in joint project for build-up of the renewable energy sector in Wales

February 24, 2017
Press releases
Swedish-based companies Minesto and Stena Line engage in a joint project to invest in Wales’ transition to renewable energy. Stena Line will build an assembly hall in Holyhead, which Minesto will utilise in their upcoming rollout of the company's unique technology to generate clean electricity...Read more »
Minesto and Stena Line have today signed an agreement in which Stena Line has committed to building an assembly hall on their land at the port in Holyhead, Wales. The assembly hall will be leased to Minesto and used for the upcoming rollout of Deep Green, Minesto’s unique technology for cost-... Read more »

Minesto to expand the commercial roll-out of the Deep Green technology

February 09, 2017
Illustration of a future Deep Green array in Holyhead Deep, Wales.
Press releases
Leading marine energy developer Minesto has today announced that the company intends to expand the commercial roll-out of its Deep Green technology in Holyhead Deep, North Wales by taking steps to increase the planned installed capacity of its tidal energy array to 80 MW. “This substantial scale-up...Read more »
Minesto has today submitted a scoping report to UK consenting authorities Marine Management Organisation (MMO) and Natural Resources Wales (NRW), asking for their scoping opinion for development of an 80 MW site in Holyhead Deep. After extensive preparatory work, Minesto has concluded that such a... Read more »

Minesto’s main owners exercise warrants; investing an additional 34 SEK million in the company

February 01, 2017
Press releases
Minesto’s largest owners BGA Invest and Midroc New Technology have announced that they will invest an additional 34 SEK million in the company by exercising all of their warrants held in Minesto AB. This announcement was communicated by the two main shareholders as the subscription period of the...Read more »
Today, the subscription period of the warrants "Minest TO1" issued in connection with Minesto’s IPO in November 2015 starts. In total, Minesto can potentially add approximately 82 SEK million in proceeds, should all warrants be exercised. The last day to exercise the warrants is February 28, 2017... Read more »

Pages