The space program that never leaves earth.
In collaboration with industry leader SKF, we are launching The Faroe Islands Space Program. Amidst a new space race, where many are discussing the potential of extracting resources from the moon, space and other planets – we’re making the most of the resources available, right here on earth.
Our collaboration with SKF goes back to 2012. SKF is a Swedish global company renowned for its expertise in manufacturing ball bearings and seals. Founded in 1907 in Gothenburg, SKF has grown to become the world’s largest bearing manufacturer.
Increased demand for energy has led to a new space race where media reports major nations are competing to control the moon’s resources. But in fact, we already have abundant moon energy on earth. Tidal energy, driven by the moon’s gravitational pull on our oceans, offers a renewable and predictable power source.
Minesto is a world leading technology developer for renewable ocean energy. With powerful, lightweight and modular power plants, we’re harnessing affordable moon energy – right here on earth.
Minesto’s pioneering technology operates with minimal friction to harness maximum moon energy. The Luna 12 “spacecraft”, as showcased by SKF, is our first megawatt tidal kite, which provides electricity to the grid in the Faroe Islands.
But instead of flying to outer space, we fly in the ocean harnessing moon energy.
The state-of-the-art power plant is a Dragon 12 model from our Dragon Class line. It has a rated power of 1.2 MW and can supply at least 200 villas with electricity for one year.
Dive deeper into Our Kite Systems.
Our streamlined and lightweight Dragons ‘fly’ through dense water flows in a figure-of-eight trajectory, achieving a speed several times faster than the tidal current. Accelerating the speed of the tidal stream through the Dragon’s turbine significantly increases the energy generated.
With our unique flight principle, we can cost-effectively produce electricity in areas where no other known technologies can operate. Unlocking the vast potential of ocean energy to meet rapidly growing demand for renewable electricity.
Dive deeper into Our Technology.
The world’s oceans offer a dense and largely untapped energy source, and could potentially provide a substantial portion of the world’s energy mix. The European Commission estimates that ocean energy could meet up to 10% of the continent’s power demand by 2050.
Our unique and patented technology can cost-effectively produce electricity from the vast resource of slow tidal and ocean currents. We estimate the potential installed capacity with our technology is 650GW*.
*Based on estimates from Minesto. We continuously work with both internal experts and academia, as well as with available data to inform our calculations.
Dive deeper into the Ocean Energy Potential.
“Minesto estimates there are at least 3000 more “Faroe Islands” out there qualifying for our space program – if they all join, moon power could replace all coal power capacity currently under development globally.”
Martin Edlund
CEO, Minesto
In the Faroe Islands, we are harnessing moon energy to support the nation to reach their goal of 100% renewable electricity generation by 2030. Over the past year, the Faroe Islands, along with Minesto and SKF, have been piloting tidal energy using underwater tidal kites.
With world class tidal stream resources, the Faroe Islands are an ideal location to harness moon energy and demonstrate how Minesto’s technology can enable us to make the most of the resources available right here on earth.
Minesto plans to develop a 200 MW tidal energy facility, this would provide 40% of the Faroe Islands projected electricity demand in 2030.
Dive Deeper into our project in the Faroe Islands
Interested to learn more about Minesto, stay up to date on our plans and progress by following us on LinkedIn and subscribing to our news updates.
Minesto AB
J A Wettergrens gata 14
421 30 Västra Frölunda
Sweden
+46 (0) 31-29 00 60
Minesto UK Ltd
Assembly Hall
Turkey Shore Road
Holyhead LL65 2DE
United Kingdom
+44 1 407 762907