Business model

Development of systems for converting ocean energy

Minesto’s expertise is in the development of systems for converting ocean energy into useable electrical power to the grid. These critical in-house capabilities are complemented and supported by a supply chain of established manufacturing and installation companies for more routined activities.

Since Minesto’s technology is not yet fully established, the Company is also making project investments in the development of offshore demonstration sites while the marine energy sector is in the build-out phase. The Minesto strategy is to keep pace with the development of the value chain as the sector grows. In the long-term, Minesto’s core business is the development, production, and sale of power plants, geographical licensing, and providing technical support services.

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In order to thoroughly utilise the Company’s expertise and intangible assets, Minesto’s business model focuses on five income streams:

• Product sales
• Site development services
• Operation, service, and maintenance
• Site asset management
• Geographical licensing