Today December 4 the subscription period for Minesto AB’s (”Minesto” or ”the Company”) new issue of units with pre-emptive rights for existing shareholders (”the Rights Issue”) begins. The subscription period runs from December 4 to 18, 2019. Please note that nominees may have a final reply date that is before December 18. According to previously communicated terms, the subscription price for warrants of series TO3, included in the Rights Issue unit, has been reset to SEK 16.20 per share.

As Minesto has today published a prospectus regarding a rights issue with subscription period 4–18 December 2019, the company has published a comment from CEO Martin Edlund.

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On 8 November 2019, the Board of Directors of Minesto AB (”Minesto” or ”the Company”) decided on a new share issue with preferential rights for existing shareholders (the ”Rights Issue”), based on the authorization given by the annual general meeting on June 4, 2019. The prospectus that has been established with regards to the Rights Issue has today been approved and registered by the Swedish Financial Supervisory Authority. The prospectus is available on Minesto’s website (www.minesto.com), Pareto Securities’ website (www.paretosec.se) and Aktieinvest’s website (www.aktieinvest.se).

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.

The Board of Directors of Minesto AB (”Minesto” or ”the Company”) has decided to carry out a rights issue of up to 6,084,133 units at a subscription price of SEK 14.12 per unit (the “Rights Issue ”), based on the authorization given by the annual general meeting on June 4, 2019. One unit contains one (1) share and one (1) warrant for subscription of shares in the Company no later than 30 April 2021.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.

The board of directors of Minesto AB (”Minesto” or the ”Company”) has resolved to carry out a directed issue of 4,249,290 Units at a subscription price of SEK 14.12 per Unit (the “Directed Issue”). One Unit contains one (1) share and one (1) warrant to subscribe for shares in the Company no later than April 30, 2021. The issue of Units was subscribed for by an international institutional investor (40 MSEK) with previous experience from investing in clean tech companies as well as Midroc New Technology AB (20 MSEK). Through the Directed Issue, Minesto will receive proceeds amounting to SEK 60 million before transaction costs.

In order for all shareholders to receive the same offer and maintain their relative shareholding in the Company, the board of directors of Minesto has also decided to carry out a rights issue of SEK 86.5 million of identical Units as described above. The Company’s largest shareholder BGA Invest AB has undertaken to invest SEK 20 million in the rights issue.

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.

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 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.

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.  

Minesto’s has completed the test site infrastructure installations at the Holyhead Deep site off North Wales. After installing the upgraded infrastructure, the site is ready for installation and commissioning of Minesto’s DG500 kite system.

Minesto’s CEO Dr Martin Edlund has been awarded the FH Presentation Award 2018 in the category Micro Cap Presenter of the Year for consistently and skilfully presenting the Minesto business and investment case to capital market stakeholders.

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.

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.

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.

Swedish marine energy developer Minesto has engaged with leading financial advisor Pareto Securities to intensify relationships with institutional investors. The purpose is to accelerate and capitalise the commercial rollout of Minesto’s first-of-its-kind renewable energy technology.

Marine energy developer Minesto has signed a Memorandum of Understanding with the Government of Antigua and Barbuda. Through a feasibility study, facilitated by the United Nations Office for Project Services, the parties will explore the possibilities of supplying the Eastern Caribbean with renewable ocean energy by Minesto’s technology.

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.

Marine energy developer Minesto has filed a patent application with the aim of further extending the generic patent protection of the unique Deep Green energy technology. The new technical innovation expands the addressable market opportunities and at the same time reduces operating costs.

Minesto’s largest shareholders BGA Invest and Midroc New Technology has underlined their long-term commitment in Minesto by exercising all of their warrants held in Minesto AB. The subscription period for Minesto’s TO 2 warrants runs until 8thof February 2019.

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 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.

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.

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.

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.

Key stakeholders and local suppliers are joining Minesto in Holyhead today for an unveiling ceremony of the company’s first marine energy kite at utility scale.

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.

Marine energy developer Minesto has completed the initial commissioning sea trials of its unique subsea kite technology called Deep Green off the coast of Holyhead, North West Wales. Through the initial trials, a range of functionalities such as the kite control system, launch and recovery systems, connections and communications have been tested and verified in various sea states.

Marine energy developer Minesto has initiated the commissioning program of its first tidal energy project in commercial scale in North West Wales, with initial sea trials of the company’s DG500 tidal energy converter taking place in Holyhead harbour and the Holyhead Deep site.

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.

Javier Sanz, CTO Renewable Energies at InnoEnergy, a leading European investor in renewable energy and Jonas Millqvist, with extensive project finance experience from global wind developer Vestas are new board members in Minesto AB.