News

Minesto starts commissioning of second “Dragon 4” tidal energy power plant

September 07, 2022
Press releases
The second Dragon Class tidal energy power plant “Dragon 4” has now arrived at Minesto’s grid-connected site in Vestmanna, Faroe Islands. This power plant commissioning has now commenced, and it will greatly benefit from previous configuration testing executed with the first unit.Read more »
“As we are now commissioning the second “Dragon 4” unit, it’s with vital experience of cost-efficient onshore and offshore operations. In Vestmanna, we have created a flexible setup, where a small team can assemble and launch the kite in a few hours, practically in all tidal conditions. This... Read more »

Minesto publishes Half-Year Report 2022

August 18, 2022
Press releases
CEO Dr Martin Edlund: “There are immediate opportunities where our small scale systems and competitive LCOE profile make a difference”.Read more »
Significant events April-June 2022 In April, Minesto launched a build-out plan for tidal energy arrays in the Faroe Islands. The plan includes four new verified sites with the potential to supply 40 percent of the country's growing electricity consumption, enabling the Faroe Islands to reach their... Read more »

Minesto's tidal power plant in grid-connected operation - commercial performance verified

July 08, 2022
d4
Press releases
Leading marine energy developer Minesto has according to plan successfully commissioned the first unit of tidal power plant “Dragon 4” in grid-connected operation in Vestmannasund, Faroe Islands. The company announces today that the commissioning results verify commercial performance and are fully...Read more »
The first tidal power plant from Minesto's product line Dragon Class, Dragon 4 (100 kW), has been commissioned in Vestmannasund, Faroe Islands, in early summer. The first phase of electricity generation shows that predicted performance is achieved in line with Minesto's previous forecasts and... Read more »

VIDEO: Recording of CEO Martin Edlund's keynote speech at Offshore Strategy Day

July 06, 2022
Press releases
Minesto CEO Dr Martin Edlund was invited as a keynote speaker at "Offshore Strategy Day - actioning the ocean energy ambitions", held 23rd of June in Brussels and initiated by Ocean Energy Europe.Read more »
A recording of the speech is now available on our youtube channel and our website: Keynote speech by CEO Martin Edlund at "Offshore Strategy Day" - YouTube Minesto as keynote speaker at Offshore Strategy Day | Minesto The full report from Ocean Energy Europe, with a photo of Dragon 4 on the cover,... Read more »

Minesto as keynote speaker at Offshore Strategy Day

July 06, 2022
Media
"EU’s offshore strategy implementation must move up a gear to meet ocean energy targets" - this is the message from Ocean Energy Europe in a new report, where Minesto is featured. "Time is running out for the EU to meet its 100 MW ocean energy deployment target by 2025 – but it isn’t too late, says... Read more »

Commissioning of Dragon 4 in Vestmannasund - the optimization journey continues

June 21, 2022
Control room photo
News
The commissioning program of the first Dragon 4 unit launched in Vestmannasund, Faroe Islands in May, is progressing according to plan and the flight configurations are being finetuned sequentially to optimise the power output. The kite, recently named “Íðunn”, is operating autonomously 40 m below...Read more »
“We’re now commissioning the kite in Vestmannasund fully remotely from our headquarter in Sweden. The team is screening a vast volume of data every day to support configuration for optimized power production,” said Bernt Erik Westre, Chief Technology Officer of Minesto. The submerged nature of the... Read more »

Report from Annual General Meeting 2022 of Minesto AB

June 08, 2022
Press releases
The Annual General Meeting of Minesto AB was held today, 8 June 2022, at Dockyard Hotel at Skeppet Ärans Väg 23 in Gothenburg. Chairman of the Annual General Meeting (“AGM”) was Eric Ehrencrona from MAQS Advokatbyrå.Read more »
The following main resolutions were resolved upon at the AGM. Adoption of income statement and balance sheet as well as group income statement and group balance sheet The AGM resolved to adopt the presented income statement and balance sheet as well as the group income statement and group balance... Read more »

Successful launch of first Dragon Class tidal powerplant

May 25, 2022
Press releases
Minesto, leading marine energy developer, has now successfully completed the first week of commissioning including satisfactory electricity production and verification of all core functionality with the new Dragon 4 tidal power plant in Vestmanna, Faroe Islands. The kite has generated first...Read more »
“We are very pleased to announce that the first week of commissioning of Dragon 4 has been successfully completed. Every aspect of the project has been fulfilled according to plan and electricity has been successfully generated,” said Martin Edlund, CEO of Minesto. “We started electricity... Read more »

Minister of State for Business, Energy and Clean Growth of the United Kingdom, Greg Hands, visits Minesto in Holyhead

May 18, 2022
Press releases
Minister of State for Business, Energy and Clean Growth, Greg Hands, visited marine energy company Minesto last week where he was introduced to the technology and toured the assembly hall facility in Holyhead, North Wales. Referring to the British Energy Security Strategy, Minister Hands was eager...Read more »
Initiated by local MP Virginia Crosbie, the visit was part of a tour aiming to showcase the energy potential of Anglesey and puts the island in centre of governmental policymaking. Tidal energy was highlighted as a vital contributor to the net-zero energy system in U.K. and globally. Both Minister... Read more »

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