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.

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.

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.

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.  

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.

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.

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.

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. 

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.

Minesto’s CEO Dr Martin Edlund presents today at Aktiespararnas Stora Aktiedagen in Göteborg, 6 November 2023.  Minesto’s presentation is 08.50 am. 

The Minesto tidal energy kite was recently featured on BBC News broadcasting, as well as an editorial article.

Today Minesto were invited to attend the official opening of Menter Mon Morlais Ltd substation, Wales’s first tidal stream energy site.

CEO Dr Martin Edlund:” Minesto has a unique competitiveness in the global energy transition”

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.

In a news broadcasting by Vanessa Murdock, CBS News New York on Monday evening, Minesto was featured as part of the Ingka Group’s exhibition on innovative solutions to climate crisis.

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.

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.

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.”

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. 

Today 16.00 CEST, Minesto’s CEO Dr Martin Edlund will present at Aktiespararna Småbolagsdagarna i Stockholm.

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.

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.

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.

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.

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.

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.  

Last week Minesto had the opportunity to host a study visit to the company’s site in Vestmanna, Faroe Islands, in conjunction with the international energy conference 7th Hybrid Power Plant & Systems Conference.

The shareholders of Minesto AB, reg. no. 556719-4914 (“Minesto” or the ”Company”), are hereby given notice to attend the Annual General Meeting to be held on Wednesday, 7 June 2023 at 3 p.m. at Hotel Riverton at the address Stora Badhusgatan 26 in Gothenburg. The entrance opens and the registration starts at 2.30 p.m.

CEO Dr. Martin Edlund: “The need for our tidal energy technology in the global energy transition has never been more clear and accurate than now”

As a part of Stockholm Climate Week that leads up to Earth Day 2023, Minesto CEO Dr Martin Edlund will be taking part in a panel discussion at SPACE Arena in Stockholm today.