Senior executives in Minesto acquire 640,000 warrants under the employee stock option plan PO3. With a subscription price of SEK 7.14 and subscription period during the third quarter of 2019, the terms are in line with the warrants TO2 that will be issued in Minesto’s ongoing rights issue with a subscription price of SEK 7.00 and subscription period in February 2019.

Swedish marine energy developer Minesto has a product with key technological advantages in an area that is the next frontier for the energy market. These are some of the reasons why European investor InnoEnergy has invested €4.5m in Minesto, InnoEnergy’s Javier Sanz said at a renewable energy capital markets day on Wednesday.

The European investor InnoEnergy and Minesto attends a renewable energy capital markets day held in Stockholm tomorrow 7thof February. Keynote speaker of the event is Javier Sans, CTO Renewable Energies at InnoEnergy.

The gravity base structure foundation for Minesto’s first commercial-scale installation of its Deep Green technology has been delivered. The structure was floated on the River Mersey on Wednesday to mark a milestone for Minesto’s operations in Wales and the upcoming offshore installation in Holyhead Deep. 

Swedish marine energy developer Minesto intensifies activities in Taiwan to establish the company’s unique Deep Green technology in the Asian market. Local staff have been recruited to a newly established subsidiary to run the development of a tidal stream site in Keelung together with the National Taiwan Ocean University. A natural next step is to deploy Deep Green in the Kuroshio current, which could see the world’s first electricity generated from ocean currents.

Minesto intends to develop a smaller Deep Green device, DG100, which will provide the company with an additional commercial product to open new markets and business opportunities, including those in Asia. At the same time, Minesto intends to intensify and expand its activities for market penetration to establish the company’s unique Deep Green technology in more markets.

An updated Cost of Energy analysis of Minesto’s unique ocean energy technology shows substantial improvements compared to previous estimates.
“These new results convince me that our technology is transforming ocean energy into one of the most cost-effective energy resources”, said Dr Martin Edlund, CEO of Minesto.

Minesto has hired David Collier, with 30 years of experience in offshore energy, as new COO. At the same time, Bernt Erik Westre has been appointed as new CTO to replace leaving Heije Westberg.
“With these changes, we strengthen our commercial position and put a sharper focus on customer-driven product development in Minesto”, said Bengt Adolfsson, Chairman of Minesto.

Minesto has awarded Jones Bros Ruthin (Civil Engineering) Co Ltd the contract to construct the foundation for Minesto’s first commercial-scale tidal energy power plant. Due to the delivery time for the new foundation, the first installation in Holyhead Deep will be moved forward.
“We are well positioned to meet time frames and deliverables towards our public funding partners, to demonstrate the unique advantages of the Deep Green technology and develop this required source of renewable energy”, said Martin Edlund, CEO of Minesto.

Minesto has decided to engage a new supplier for the construction of a gravity-based structure (GBS) foundation for the company’s first Deep Green installation in Holyhead Deep, as a consequence of the discontinuation by current supplier Ocean Resource Ltd.
“We have taken immediate actions to ensure the continuation of the Holyhead Deep project”, says Martin Edlund, CEO of Minesto.

Leading tidal energy developer Minesto has taken yet another important step towards commercialisation of its unique Deep Green technology in Welsh tidal streams, as the company has received marine license for a 0.5MW installation in Holyhead Deep. 

Minesto’s warrant program TO1 is now completed with 91 percent of outstanding warrants being exercised. This means that Minesto will add approximately 75 SEK million in proceeds to the further development of the unique tidal energy technology Deep Green.

Swedish-based companies Minesto and Stena Line engage in a joint project to invest in Wales’ transition to renewable energy. Stena Line will build an assembly hall in Holyhead, which Minesto will utilise in their upcoming rollout of the company’s unique technology to generate clean electricity from the ocean.

Leading marine energy developer Minesto has today announced that the company intends to expand the commercial roll-out of its Deep Green technology in Holyhead Deep, North Wales by taking steps to increase the planned installed capacity of its tidal energy array to 80 MW.
“This substantial scale-up of the Holyhead Deep project’s commercial strength makes it even more attractive to site investors and creates early opportunities for sales of Deep Green power plants”, says Dr Martin Edlund, CEO of Minesto. 

Minesto’s largest owners BGA Invest and Midroc New Technology have announced that they will invest an additional 34 SEK million in the company by exercising all of their warrants held in Minesto AB. This announcement was communicated by the two main shareholders as the subscription period of the warrants begins.

Minestos newly revamped website is now live. With new design and functionality, it forms the foundation of the company’s communications with its various stakeholders. Check it out at www.minesto.com!

Leading tidal energy technology developer Minesto continues to strengthens its market relations in South America. The company has joined a Swedish Green Tech trade mission which today starts a two-day visit to Argentina. This follows a week of individual meetings with key stakeholders in Chile.
“We have all prerequisites to play a major role in the transition to renewable energy in both Chile and Argentina”, says Dr Martin Edlund, CEO of Minesto.

On Tuesday evening, in a global competition of the most prominent players in the industry, leading tidal energy developer Minesto won the award for the Most Promising Turbine Concept at the International Tidal Energy Summit in London. 

Leading ocean energy developer Minesto has today signed a collaboration agreement together with the Research Center for Ocean Energy and Strategies at National Taiwan Ocean University. The collaboration
will include installation and ocean testing of a scale model and research on Minesto’s unique technology Deep Green.
“This is a breakthrough on a market with substantial potential to Minesto”, says Dr Martin Edlund, CEO of Minesto.

In October, Minesto’s quarter-scale sea trials of the Deep Green technology have reached new highs of electricity generation. The results correspond to full power production for a full-scale power plant.

The European Patent Office has granted leading tidal energy developer Minesto a European patent for the primary patent family covering the company’s core technology.
“This strengthens the IP position for our already well-protected Deep Green concept”, says Dr Martin Edlund, CEO of Minesto.

Dr Martin Edlund, CEO of leading tidal energy developer Minesto, has joined the Swedish Business Delegation that will attend the 32nd Taiwan-Sweden Joint Business Council Meeting in Taipei on 26 September 2016. The delegation will be led by the State Secretary to the Swedish Minister for EU Affairs and Trade.

Leading Swedish tidal energy developer Minesto, together with industry and academia partners, have been granted research funds totalling SEK 5.7 million by the Swedish Energy Agency.
“The decision is a clear sign of confidence from the Swedish Energy Agency in Minesto’s ability to realise the Deep Green technology”, said Dr Heije Westberg, CTO of Minesto.

”The financial support is secured and tidal energy is now more important than ever for the region”

KIC InnoEnergy, the European company for innovation, business creation and education in the field of sustainable energy, is expanding its involvement in Minesto, a leading developer of renewable energy from slow ocean and tidal currents. KIC InnoEnergy has awarded an additional EUR 1 million in the development of Minesto’s unique Deep Green technology.

The Board of Minesto AB has today appointed Dr Martin Edlund, since February acting CEO, as CEO of Minesto.
“Martin holds an ideal combination of technical expertise, industry knowledge and experience in business development”, said Bengt Adolfsson, chairman of Minesto.

Minesto has entered into a supplier agreement with Subsea Riser Products (SRP), within which Minesto has ordered a modified version of SRP’s product Rocksteady for Minesto’s tidal energy power plant Deep Green. Delivery is scheduled for the first quarter of 2017.

Minesto has together with German tidal turbine manufacturer Schottel Hydro completed the turbine design of Minesto’s tidal power plant Deep Green. The Swedish marine energy company has now placed an order for a prototype of the turbine, with delivery in early 2017.

Last autumn Minesto appointed Stefan Karlsson, who has extensive experience in business development in renewable energy, as new member of the company’s Board of Directors. Minesto and Stefan Karlsson has now agreed that Mr. Karlsson will enter an expanded, operational role, in which he will work with international business development for the company ahead of the commercialisation of Deep Green.

In late February the global International Conference on Ocean Energy 2016 was held in Edinburgh. Martin Edlund, CEO of Swedish marine energy technology leader Minesto, was invited to share the successful story on how the company managed to fund the development of Deep Green. ”We are in a very promising position in terms of opportunities to industrialise projects in our niche”, he said.