News

Minesto announces rights issue of units of approximately SEK 86 million

November 08, 2019
Press releases
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD...Read more »
The Rights Issue is carried out in order to give the existing shareholders of the Company the opportunity to subscribe for new shares in the Company under the same conditions as in the private placement of units of approximately SEK 60 million (the "Directed Issue") that Minesto completed in... Read more »

Minesto completes a directed issue of Units – raising proceeds of SEK 60 million – and announces subsequent rights issue of Units of SEK 86.5 million

October 28, 2019
Press releases
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD...Read more »
“These transactions allow us to accelerate the pace of commercialisation of our product. We secure the capital needed to realise our current public-funded projects as well as other market and product development activities. It also provides us with financial resources for the foreseeable future in... Read more »

Minesto receives approval for EU-funded site project in France

October 16, 2019
Press releases
Leading marine energy developer Minesto has received approval for an EU-funded project aiming at installing the company’s unique renewable energy technology at the grid-connected Paimpol-Bréhat test site in France, operated by the French electric utility company EDF with the support of the Brittany...Read more »
Minesto, as part of a wider EU-funded project called TIGER, will utilise a grant of approximately €2.4 million to manufacture, install and operate Minesto’s marine energy converter DG100 at a grid-connected site off Brittany operated by the electric utility company EDF. “The delivery of this... Read more »

Further activities to shift Minesto staff to new incentive plans

September 20, 2019
Press releases
The Board of Directors of Minesto AB has decided to offer 1,965,000 warrants to Minesto’s staff within the framework of the warrant plan PO5 approved in this year’s AGM. At the same time, Minesto’s financial advisor Pareto has facilitated the exercise of outgoing warrants of series PO3 by which a...Read more »
PO5 is the second of three future warrant plans approved in Minesto's Annual General Meeting in 2019. Minesto’s Board of Directors have decided to offer all staff a total of 1,965,000 PO5 warrants to continue to incentivise Minesto management and staff to build shareholder value in the company. A... Read more »

Minesto's management shifts to new incentive plans

August 26, 2019
Press releases
Minesto's senior executives in Sweden have acquired a total of 280,000 warrants within the framework of the employee stock option plan PO4 decided by the AGM. At the same time, a transfer of outgoing warrants of series PO3 has been carried out in a separate transaction between Minesto’s CEO...Read more »
PO4 is one of three employee stock option plans approved by Minesto's Annual General Meeting in 2019. Minesto's senior executives Martin Edlund (CEO), Fredrik Ahlström and Bernt Erik Westre have acquired 120,000, 80,000 and 80,000 warrants respectively (a total of 280,000) of series PO4 at a price... Read more »

Minesto resumes DG500 kite system operations

August 15, 2019
Minesto's marine energy converter DG500 launched in Holyhead, before being towed to the Holyhead Deep site. Photo: Warren Cardwell
Press releases
Leading marine energy developer Minesto has resumed testing of its commercial-scale DG500 kite system at the company’s Holyhead Deep site off North Wales.Read more »
“We are very pleased to be back in the water with the DG500 kite system, and we are looking forward to the continued testing operations. The team has made a great effort in upgrading the systems over winter and has executed the installation activities in an efficient and safe manner” , said Minesto... Read more »

Minesto’s CEO Martin Edlund named Presenter of the Year

June 24, 2019
Press releases
Minesto’s CEO Dr Martin Edlund has been awarded the FH Presentation Award 2018 in the category Micro Cap Presenter of the Year for consistently and skilfully presenting the Minesto business and investment case to capital market stakeholders.Read more »
Martin Edlund was presented the award alongside other winners and well-known names in Swedish business such as Martin Lundstedt, Volvo Group, Johan Forssell, Investor and Ulf Petersson, journalist at financial newspaper Dagens Industri. The FH Presentation Award is arranged by Financial Hearings,... Read more »

Swedish Energy Agency awards funding to Minesto’s innovative energy technology

June 18, 2019
Press releases
Swedish marine energy developer Minesto has received additional public support and funding for the development and commercialisation of its marine energy technology called Deep Green. The Swedish Energy Agency has awarded Minesto a SEK 12.5 million grant to the development of the company’s marine...Read more »
“Climate change and the transition to renewable energy is a global challenge in which Swedish technology like ours can play a significant role. It is therefore crucial that the Swedish innovation system is involved and supports the development of what could be a new Swedish export industry”, said... Read more »

Minesto secures €2.5m European Commission funding for first customer project

June 10, 2019
Picture of the Vestmannasund strait in the North West part of the Faroe Islands. Photo: SEV
Press releases
Leading marine energy developer Minesto has been awarded a €2.5 million grant from the European Commission’s SME Instrument programme. The awarded funding will support the installation of Minesto’s technology in the Faroe Islands together with the utility company SEV.Read more »
“This is great news for Minesto and our joint project with the utility customer SEV”, said Dr Martin Edlund, CEO of Minesto. “The EU community once again show trust and commitment to our technology and commercialisation roadmap.” Minesto will receive a €2.5 million grant from EU’s SME Instrument... Read more »

Welsh Government awards €14.9 million of EU funding to leading marine energy developer Minesto

May 31, 2019
Press releases
The Welsh Government has announced their continued support to leading marine energy developer Minesto following the award of €14.9 million of EU funding for the next phase of Minesto’s tidal energy scheme in Wales.Read more »
Commenting on the funding decision, Minesto’s CEO Dr Martin Edlund said: “This is a key contribution to the commercialisation of our technology and a strong sign of commitment from the Welsh Government. We are pleased to see that we share an agenda to industrialise tidal energy in Wales, to enable... Read more »

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