Minesto News Update 28 May 2019

May 28, 2019

· Minesto progress DG100 project with subsystem orders
· Tidal wave of MPs unite in support of UK marine power
· Minesto partners with leading financial advisor to capitalise commercial rollout
· Marketing Coordinator wanted to Gothenburg office
· Minesto presentation and study visit at Blue Energy seminar day
· “Exciting shares in a hot sector”
· “’Deep Green’: how a Swedish startup is making waves underwater”

Minesto progress DG100 project with subsystem orders

Minesto is making progress with the development and manufacturing of its first DG100 unit, which will be installed in the Faroe Islands within the scope of Minesto’s collaboration with Faroese utility company SEV.

As reported earlier, Minesto has awarded a contract for design and development of the foundation connection system. Minesto has also placed orders for wing system and generator.

In addition, Minesto plans to place orders for several other subsystems and key components in the near future. Read more here.

Tidal wave of MPs unite in support of UK marine power

Earlier this month 91 Members of Parliament from all the main parties signed a letter to the UK Energy Minister Claire Perry, urging her to put measures in place to ensure that the UK capitalises on its role as a world leader in wave and tidal power.

Conservative Member of Parliament Richard Graham, the Chair of the All-Party Parliamentary Group on Marine Energy said: “Right now people are clamouring for more action on climate change. Marine energy provides a perfect opportunity for the Government to show that it is listening.”

In a follow-up article in magazine Professional Engineering Minesto’s CEO Dr Martin Edlund was interviewed on the potential impact of the proposed changes brought forward by the MPs in the letter. Because of the size of the market, it is essential to commercialise multiple technologies, Martin Edlund said. “Competition needs to be there. It’s not a way of promoting one company or one solution, it’s about giving multiple proposals the ability to prove themselves commercially viable.”

Minesto partners with leading financial advisor to capitalise commercial rollout

Minesto has announced that the company 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.

Marketing Coordinator wanted to Gothenburg office

Minesto is looking for a curious marketer with strong planning skills to join the company’s commercial team. Last day of application is the 5thof June. Read more about the role and how to apply here.

Minesto presentation and study visit at Blue Energy seminar day

This week, a seminar day with the theme “Building international supply chains in Blue Energy” was organised in Gothenburg by EU project ELBE. Minesto’s CEO Dr Martin Edlund was invited to the seminar as speaker to talk about Minesto’s state-of-the-art technology and how the company has worked to overcome challenges over the years to progress the business and the technology development. Minesto also hosted study visits at its Gothenburg head offices where delegates got the opportunity to learn more and discuss challenges and opportunities in ocean energy.

“Exciting shares in a hot sector”

Minesto is highlighted in an article by Swedish share savers association Aktiespararna on innovative listed companies focusing on solutions related to climate issues.

“’Deep Green’: how a Swedish startup is making waves underwater”

UK magazine New Statesman has published an article about Minesto, the prospects of the its unique renewable energy technology and the company’s initiatives to commercialise the product.