News

Minesto signs MoU with the Government of Antigua and Barbuda for Eastern Caribbean feasibility study

February 26, 2019
Press releases
Marine energy developer Minesto has signed a Memorandum of Understanding with the Government of Antigua and Barbuda. Through a feasibility study, facilitated by the United Nations Office for Project Services, the parties will explore the possibilities of supplying the Eastern Caribbean with...Read more »
Minesto and the Government of Antigua and Barbuda have agreed to conduct a joint ocean resource feasibility study of the potential deployment of Minesto’s marine energy technology Deep Green around Antigua and the wider Eastern Caribbean region. The collaboration will be facilitated by the United... Read more »

Minesto raises SEK 44.4 million from warrants program

February 11, 2019
Press releases
Marine energy developer Minesto has concluded its warrants program of series TO 2. In total, 98 percent of outstanding warrants were exercised, which means that Minesto will add approximately SEK 44.4 million in proceeds before issue costs to the commercialisation activities of the company’s unique...Read more »
Commenting on the outcome of the warrants program Minesto’s CEO Dr Martin Edlund said: “We are pleased that so many have chosen to exercise their warrants and subscribe for new shares in Minesto. We will use this capital injection together with our other sources of funding to continue the... Read more »

Minesto’s main owners exercise all of their subscription warrants

January 23, 2019
Press releases
Minesto's largest shareholders BGA Invest and Midroc New Technology has underlined their long-term commitment in Minesto by exercising all of their warrants held in Minesto AB. The subscription period for Minesto's TO 2 warrants runs until 8thof February 2019.Read more »
Minesto's two main owners BGA Invest and Midroc New Technology have made further investments in Minesto by having exercised all of their “MINEST TO 2” warrants held in Minesto AB. “As long-term and active owners in Minesto, BGA Invest and Midroc New Technology have been crucial to take the company... Read more »

Minesto enters formal planning phase with Welsh Government for second stage of public funding

December 21, 2018
Minesto's marine energy converter DG500 during its commissioning program in the Holyhead Deep, Wales
Press releases
Marine energy developer Minesto has taken the next step towards commercialisation of its subsea kite technology and the development of the marine energy sector in Wales. The company has entered the formal planning phase with Welsh Government for the second stage of public funding for Minesto’s...Read more »
The Welsh Government has confirmed that it will engage with Minesto in advanced business planning for the second stage of public funding for Minesto’s tidal energy project in Holyhead Deep off Anglesey, North Wales. “This decision is a strong sign of comfort from the Welsh Government and by such, a... Read more »

European investor InnoEnergy expands its involvement in Minesto with €1m investment

December 10, 2018
Press releases
European powerhouse and investor in clean energy InnoEnergy expands its involvement in Swedish marine energy developer Minesto. InnoEnergy has awarded an additional €1 million to the commercialisation of Minesto’s unique marine energy technology, making Minesto InnoEnergy’s largest investment in...Read more »
“This investment underlines the role of ocean energy by Minesto’s technology in the global transition to a renewable energy system. It’s a clear sign of confidence from InnoEnergy in the capabilities of our organisation and in the potential our disruptive clean energy technology. As a major... Read more »

Minesto signs agreement with electric utility SEV for Faroe Islands’ installations

November 12, 2018
Picture of the Vestmannasund strait in the North West part of the Faroe Islands. Photo: SEV
Press releases
Swedish marine energy developer Minesto has signed a collaboration agreement with the main power generator and distributor on the Faroe Islands, SEV, for two installations of Minesto’s DG100 model. The agreement also includes a power purchase agreement through which SEV commits to purchase the...Read more »
“ We are delighted to have signed this agreement with SEV, an advanced customer with a pioneering energy transition agenda and a world-class tidal energy resource. With Minesto’s technology, they can add a predictable and affordable source of clean energy with the potential to play a significant... Read more »

Minesto completes offshore test programme of its EU-funded tidal energy project in Wales

November 09, 2018
Minesto's marine energy converter DG500 during its commissioning program in the Holyhead Deep, Wales
Press releases
Marine energy developer Minesto has completed the offshore commissioning and test programme of its EU-funded tidal energy project offshore Holyhead, North Wales, which aims to demonstrate the company’s first utility-scale system of its pioneering subsea kite technology.Read more »
“ We are proud of what we have achieved in Wales this year, the team has reached all its testing milestones in a safe and professional manner. Through the project installation, commissioning and operation activities of our DG500 device, we are pleased to successfully have verified the control... Read more »

Minesto generates electricity for the first time with commercial-scale unit

October 09, 2018
Minesto's marine energy converter DG500 during its commissioning program in the Holyhead Deep, Wales
Press releases
Marine energy developer Minesto has achieved initial electricity generation with its first commercial-scale marine energy kite during the commissioning program of the company’s ground-breaking low-flow tidal energy project in Wales.Read more »
“We are entering a new era of renewable energy generation and Minesto is at the forefront”, said Minesto’s CEO Dr Martin Edlund. “The achievements in Wales over the last few months makes us confident that our unique technology can operate in low-flow tidal streams and ocean currents, offering... Read more »

Minesto breaks new ground in the energy sector as it proves its subsea kite technology

August 30, 2018
Press releases
Marine energy developer Minesto has verified the functionality of its unique Deep Green technology at utility scale, marking a significant milestone for the company and for the marine energy industry.Read more »
Following a thorough commissioning program of the company’s first device of the Deep Green technology at utility scale, which generates clean electricity from tidal streams and ocean currents, developer Minesto has successfully "flown" its marine energy kite in full subsea trajectories at the... Read more »

European Commission backs Minesto roadmap for commercial breakthrough

June 21, 2018
Press releases
Swedish marine energy developer Minesto has been selected by the European Commission for phase 1 of the Horizon 2020 SME Instrument programme. The awarded funding is dedicated to a customer-involved feasibility study with the purpose of facilitating commercialisation of Minesto’s unique Deep Green...Read more »
“This grant underscores Minesto’s ability and industry-leading track record in obtaining public funding support from the EU”, said Dr Martin Edlund, CEO of Minesto. “More importantly, it also shows that the European Commission acknowledges and supports our market entry approach based on initial... Read more »

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