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Minesto receives approval for EU-funded site project in France

Press releases

16 oktober 2019

Leading marine energy developer Minesto has received approval for an EU-funded project aiming at installing the company’s unique renewable energy technology at the grid-connected Paimpol-Bréhat test site in France, operated by the French electric utility company EDF with the support of the Brittany Region.

Further activities to shift Minesto staff to new incentive plans

Press releases

20 september 2019

The Board of Directors of Minesto AB has decided to offer 1,965,000 warrants to Minesto’s staff within the framework of the warrant plan PO5 approved in this year’s AGM. At the same time, Minesto’s financial advisor Pareto has facilitated the exercise of outgoing warrants of series PO3 by which a total of 624,880 new shares have been subscribed for in Minesto AB.

Minesto’s management shifts to new incentive plans

Press releases

26 augusti 2019

Minesto’s senior executives in Sweden have acquired a total of 280,000 warrants within the framework of the employee stock option plan PO4 decided by the AGM. At the same time, a transfer of outgoing warrants of series PO3 has been carried out in a separate transaction between Minesto’s CEO and the company’s two main owners BGA Invest and Midroc New Technology, after which the parties have subscribed for a total of 214,000 new shares in Minesto AB.

Minesto resumes DG500 kite system operations

Press releases

15 augusti 2019

Leading marine energy developer Minesto has resumed testing of its commercial-scale DG500 kite system at the company’s Holyhead Deep site off North Wales.  

Swedish Energy Agency awards funding to Minesto’s innovative energy technology

Press releases

18 juni 2019

Swedish marine energy developer Minesto has received additional public support and funding for the development and commercialisation of its marine energy technology called Deep Green. The Swedish Energy Agency has awarded Minesto a SEK 12.5 million grant to the development of the company’s marine power plant DG100.

Minesto secures €2.5m European Commission funding for first customer project

Press releases

10 juni 2019

Leading marine energy developer Minesto has been awarded a €2.5 million grant from the European Commission’s SME Instrument programme. The awarded funding will support the installation of Minesto’s technology in the Faroe Islands together with the utility company SEV.

Welsh Government awards €14.9 million of EU funding to leading marine energy developer Minesto

Press releases

31 maj 2019

The Welsh Government has announced their continued support to leading marine energy developer Minesto following the award of €14.9 million of EU funding for the next phase of Minesto’s tidal energy scheme in Wales.

Minesto raises SEK 44.4 million from warrants program

Press releases

11 februari 2019

Marine energy developer Minesto has concluded its warrants program of series TO 2. In total, 98 percent of outstanding warrants were exercised, which means that Minesto will add approximately SEK 44.4 million in proceeds before issue costs to the commercialisation activities of the company’s unique subsea kite technology.

Minesto enters formal planning phase with Welsh Government for second stage of public funding

Press releases

21 december 2018

Marine energy developer Minesto has taken the next step towards commercialisation of its subsea kite technology and the development of the marine energy sector in Wales. The company has entered the formal planning phase with Welsh Government for the second stage of public funding for Minesto’s tidal energy project in North Wales.

European investor InnoEnergy expands its involvement in Minesto with €1m investment

Press releases

10 december 2018

European powerhouse and investor in clean energy InnoEnergy expands its involvement in Swedish marine energy developer Minesto. InnoEnergy has awarded an additional €1 million to the commercialisation of Minesto’s unique marine energy technology, making Minesto InnoEnergy’s largest investment in ocean energy.

Minesto signs agreement with electric utility SEV for Faroe Islands’ installations

Press releases

12 november 2018

Swedish marine energy developer Minesto has signed a collaboration agreement with the main power generator and distributor on the Faroe Islands, SEV, for two installations of Minesto’s DG100 model. The agreement also includes a power purchase agreement through which SEV commits to purchase the electricity generated by Minesto’s tidal energy converters.

Minesto completes offshore test programme of its EU-funded tidal energy project in Wales

Press releases

9 november 2018

Marine energy developer Minesto has completed the offshore commissioning and test programme of its EU-funded tidal energy project offshore Holyhead, North Wales, which aims to demonstrate the company’s first utility-scale system of its pioneering subsea kite technology.

Minesto generates electricity for the first time with commercial-scale unit

Press releases

9 oktober 2018

Marine energy developer Minesto has achieved initial electricity generation with its first commercial-scale marine energy kite during the commissioning program of the company’s ground-breaking low-flow tidal energy project in Wales.

Minesto breaks new ground in the energy sector as it proves its subsea kite technology

Press releases

30 augusti 2018

Marine energy developer Minesto has verified the functionality of its unique Deep Green technology at utility scale, marking a significant milestone for the company and for the marine energy industry.

European Commission backs Minesto roadmap for commercial breakthrough

Press releases

21 juni 2018

Swedish marine energy developer Minesto has been selected by the European Commission for phase 1 of the Horizon 2020 SME Instrument programme. The awarded funding is dedicated to a customer-involved feasibility study with the purpose of facilitating commercialisation of Minesto’s unique Deep Green technology.

Minesto’s management acquires 640,000 warrants

Press releases

14 februari 2018

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.

Gravity base structure delivered as Minesto progress towards Holyhead Deep installation

Press releases

1 februari 2018

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. 

Minesto takes steps towards world’s first ocean current electricity generation

Press releases

17 januari 2018

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 to enhance Deep Green product range and intensify market penetration activities

Press releases

15 januari 2018

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.

Minesto’s technology transforms ocean energy into one of the most cost-effective energy resources, new Cost of Energy analysis states

Press releases

12 oktober 2017

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 strengthens its commercial position with management team appointments

Press releases

15 september 2017

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 awards new foundation supplier

Press releases

15 augusti 2017

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 to engage new supplier of GBS foundation

Press releases

4 juli 2017

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.

Minesto awarded consent for Holyhead Deep installation

Press releases

19 april 2017

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 completed; raises SEK 75M

Press releases

6 mars 2017

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.

Minesto and Stena Line engage in joint project for build-up of the renewable energy sector in Wales

Press releases

24 februari 2017

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.

Minesto to expand the commercial roll-out of the Deep Green technology

Press releases

9 februari 2017

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 main owners exercise warrants; investing an additional 34 SEK million in the company

Press releases

1 februari 2017

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.

Tidal energy in focus as Minesto joins Swedish trade mission to South America

Press releases

24 november 2016

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.

Minesto’s tidal energy technology awarded as most promising in the industry

Press releases

23 november 2016

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. 

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