Minesto completes initial commissioning trials of its DG500 marine energy kite

Marine energy developer Minesto has completed the initial commissioning sea trials of its unique subsea kite technology called Deep Green off the coast of Holyhead, North West Wales. Through the initial trials, a range of functionalities such as the kite control system, launch and recovery systems, connections and communications have been tested and verified in various sea states.

The results of the initial commissioning tests have been analysed and the main conclusion is that Minesto’s DG500 marine energy kite, which produces renewable energy from tidal streams and ocean currents, is ready to commence “flying” full subsea trajectories.

Commenting on the progress, Minesto’s Chief Operating Officer David Collier said: “This is a very significant step towards our ultimate goal of proving the complete DG500 system. I am very proud of the team as this accomplishment has been made possible only by the hard work and endeavour of everyone that has been involved in the design and development of the Deep Green technology over a number of years. The commissioning efforts have been performed in a safe and robust manner, which is especially important considering the many innovations involved in this first-of-its-kind project”.

Minesto will next continue the commissioning program of the DG500 device to achieve the milestones of flying full subsea trajectories and verifying the power take-off system and electricity generation.

For additional information please contact:

Magnus Matsson Communications Manager, Minesto AB +46 31 774 14 88 press@minesto.com

About Minesto

Minesto is a marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling commercial power production from the ocean.

Minesto’s award winning and patented product, Deep Green, is the only verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents.

In May 2015, Minesto secured a €13m investment from the European Regional Development Fund through the Welsh European Funding Office, for the commercial rollout of Deep Green.

Minesto was founded in 2007 and has operations in Sweden, Wales, Northern Ireland and Taiwan. The major shareholders in Minesto are BGA Invest and Midroc New Technology. The Minesto share (MINEST) is traded on the Nasdaq First North Stockholm stock exchange, with G&W Fondkommission as Certified Adviser.

Read more about Minesto at www.minesto.com

Press images and other media material is available for download via bit.ly/minestomedia.