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22 februari 2024
After the first two weeks of testing, the Dragon 12 functionality is verified and power production performance is satisfactory and as projected. All core operating functions such as starting, turning with the tidal flow and electricity generation have been successfully verified in its first phase of operation. Given the stable system behaviour, Minesto concludes the technology risks of scale-up have been significantly reduced.
21 februari 2024
Minesto, leading ocean energy developer, has upgraded the roadmap to a 200 MW tidal energy buildout in the Faroe Islands. The scaled-up roadmap is a response to the growing demands for renewable energy, where unlocking the tidal opportunity enables transition to a 100% renewable energy system. The recently reached milestone of megawatt-scale electricity generation with Dragon 12 to the grid shifts focus to commercial array buildout.
20 februari 2024
Minesto’s CEO Dr Martin Edlund, was invited to a seat at the roundtable “Managing risks for successful demos” at IEA Energy Innovation Forum in Paris last week. This by invitation-only event aims at addressing the main challenges facing breakthrough technologies moving from the innovation phase to early adoption, and how to accelerate this scale-up to enable the necessary global energy transition towards net zero.
9 februari 2024
Minesto, leading ocean energy developer, today announces that a key milestone has been reached: The utility-scale tidal powerplant Dragon 12 – rated at 1.2 MW – has been successfully commissioned and, in the early morning of February 9, delivered its first electricity to the national grid in the Faroe Islands.
7 februari 2024
The Swedish Energy Agency has awarded Minesto a 2.8 MSEK grant to support development and testing of next generation mooring system. The grant co-funds a project through which Minesto will advance performance of the unique tether system that moors the powerplant to the seabed.
25 januari 2024
Minesto, leading ocean energy developer, continues to push the preparations to completion for commissioning of Dragon 12 in Vestmanna, Faroe Islands. Today, Minesto’s CEO Dr Martin Edlund comments on the multiple ongoing activities.
10 januari 2024
Minesto, leading ocean energy developer, has successfully executed the Launch & Recovery method (LARS) for the first megawatt tidal kite Dragon 12 (1.2 MW, 25 tons). The operations developed for the Dragon 4 (100kW, 2.5 tons) were proven equally effective with the large-scale kites utilizing the same small work vessel.
8 januari 2024
Minesto, leading ocean energy developer, has successfully completed the Dragon 12 offshore infrastructure in Vestmannasund, Faroe Islands. With the successful connection of the export cable on to the foundation, the Dragon 12 production site is now ready for power production.
7 december 2023
Minesto, leading developer of ocean energy, has today successfully completed the installation of a drilled and grouted seabed anchor solution for the Dragon 12, at the company’s production site offshore in Vestmannasund, Faroe Islands. The installation was carried out by Minesto’s collaboration partner Leask Marine Ltd. The Dragon 12 kite system is assembled, tested and ready for installation, commissioning, and power production.
1 december 2023
Minesto, leading ocean energy developer, is part of the Swedish official business delegation to the COP28, the United Nations’ global climate change conference. Starting today, Minesto’s CEO Dr Martin Edlund will participate in several programme sessions throughout the event.
23 november 2023
Minesto, leading ocean energy developer, is today featured in Swedish tech newspaper ”Ny Teknik”.
The article with the headline ”Elproduktion nära – fullskalig tidvattendrake snart i drift” is based on an interview with Minesto’s CEO Dr Martin Edlund.
15 november 2023
Minesto’s tidal energy kite in utility-scale, Dragon 12, was this week featured on Swedish TV.
Minesto, leading ocean energy developer, is part of the official Swedish business delegation to UN climate conference COP28 in Dubai.
9 november 2023
Minesto, leading ocean energy developer, today announces that the Dragon 12 kite (1.2 MW) is now being shipped from the Uddevalla port to Faroe Islands for final stage of commissioning in Vestmanna.
26 september 2023
Minesto, leading ocean energy developer, has completed the manufacturing of the Dragon 12 wing and started system integration at quayside in Uddevalla port, Sweden. The quayside completion of the kite enables an efficient shipment directly to Minesto’s tidal energy production site in Vestmannasund, Faroe Islands.
18 september 2023
Minesto, leading ocean energy developer, is for the second time part of the official Swedish business delegation to the United Nation’s global climate conference, COP28 in Dubai 30 Nov-12 Dec 2023. The road to COP28 starts today at Climate Week New York, where leading companies, academia and public sector are gathering in New York in conjunction with the opening of UN’s General Assembly.
22 augusti 2023
Minesto, leading ocean energy developer, has completed build and functional testing of sea-bed connection system for the 1.2-Megawatt power plant Dragon 12. The unique connection system, enabling one of the fastest launch and recovery operation in marine energy by “one-stab” operation, is now ready for installation.
17 augusti 2023
CEO Dr Martin Edlund:” With the second quarter, we further accelerate our focus on driving large-scale, project-based sales of tidal energy arrays, where reference installations of our smaller power plant Dragon 4 are the key to long term business.”
15 juni 2023
Today, Minesto’s CEO Dr Martin Edlund is one of the speakers in a panel discussion ”Scaling Up Renewables” at VivaTech, Paris 14-17 June. The event is Europe’s biggest startup and tech event, aiming to accelerate innovation by connecting startups, tech leaders, major corporations and investors to respond to the world’s biggest challenges.
12 juni 2023
Minesto, leading ocean energy developer, has for ten days carried out a load test during electricity production with a new potentially performance-enhancing subsystem. Yesterday the production was interrupted, and an unplanned surface recovery was successfully carried out.
8 juni 2023
Recording of CEO Dr Martin Edlund’s speech to the Annual General Meeting 2023 of Minesto AB, 7th of June 2023.
The recording is available on the company’s youtube channel, please click here (https://youtu.be/UpJUh5PY3AU)
The speech is in Swedish.
7 juni 2023
The English text is an uncertified translation and in the event of any inconsistency between the English text and the Swedish text, the Swedish text shall prevail.
The Annual General Meeting of Minesto AB was held today, June 7, 2023, at Hotel Riverton at Badhusgatan 26 in Gothenburg. Chairman of the Annual General Meeting (the “AGM”) was Eric Ehrencrona from MAQS Advokatbyrå.
7 juni 2023
Minesto, leading ocean energy developer, today announces the appointment of Gustav Kvibling as new Chief Financial Officer (CFO). After eight years in the role, Fredrik Ahlström will leave Minesto to pursue other career opportunities. Minesto is also expanding its Executive Team with new members and updated roles, to focus on moving towards large scale commercial buildout.
6 juni 2023
Gothenburg turns 400 years and the city of Gothenburg kicked-off the celebration this weekend with a major festival in area Frihamnen. Minesto, leading ocean energy developer, was invited to the festival and Prototyp Göteborg to present the innovation for the thousands of locals and visitors who attended the festival.
31 maj 2023
Minesto, leading ocean energy developer, has today successfully completed the first phase of Dragon 12 (1.2 MW) offshore installation in Vestmanna, Faroe Islands. The 3.4 km main subsea cable was laid on the seabed, from the onshore grid connection point to the offshore installation node.