News & Media

Minesto raises SEK 161.6m through fully subscribed warrants program

May 04, 2021
Press releases
The warrants program TO3 in Minesto AB has been successfully completed. The program was fully subscribed, which means that Minesto adds SEK 161.6 million in proceeds before issue costs to secure the company’s commercial expansion. A total of 10,236,653 new shares in Minesto were subscribed for...Read more »
“It is very satisfying that the TO3 program was fully subscribed. This contributes to a strong financial position and creates the right conditions for converting Minesto's world-leading competitive advantages in marine energy into industrial value. We are now focusing on large-scale commercial... Read more »

Notice to attend the Annual General Meeting of Minesto AB

May 03, 2021
Press releases
The shareholders of Minesto AB, org.nr 556719-4919 (”Minesto” or ”Company”), are hereby given notice to attend the Annual General Meeting to be held on Wednesday 2 June 2021.Read more »
This press release is a translation of the press release in Swedish that was published on 3 May 2021. In the event of any inconsistency between the English and the Swedish versions, the latter shall prevail. Postal voting replaces tangible Annual General Meeting due to the Covid-19 Pandemic Due to... Read more »

Minesto presents at ICOE 2021

April 28, 2021
News
Today starts the International Conference on Ocean Energy 2021 which is held 28–30 April in conjunction with the National Hydropower Association’s annual conference Waterpower Week. The conference, themed this year as Energizing a Powerful Blue Economy , aims to showcase the close partnership and... Read more »

Interim Management Statement 1 January–31 March 2021

April 22, 2021
Press releases
CEO Dr Martin Edlund: “The satisfactory results from operations in the Faroe Islands, both in terms of electricity production and the DG100 system's performance in automatic mode, provides the right conditions and significant risk reduction to drive the development of larger power plants and...Read more »
Significant events January–March 2021 At the beginning of March, Minesto resumed operations with the DG100 power plant in the Faroe Islands. The focus has been on optimising electricity production to grid together with the customer, electricity utility company SEV, and to provide production and... Read more »

Minesto's main owners and management exercise all their TO3 warrants

April 16, 2021
News
Minesto's largest owners BGA Invest and Midroc New Technology have exercised all of their warrants of series TO3 in Minesto AB. Through this, Minesto will add approximately SEK 44.7 million in proceeds before issue costs, corresponding to approximately 27 percent of the total TO3 program. In...Read more »
“We are very pleased and grateful that BGA Invest and Midroc New Technology once again show their confidence in Minesto and the commercial value of our technology and project portfolio. They have been the backbone of Minesto's ownership structure for many years, and with this additional capital the... Read more »

Minesto enhances and extends its IP protection with approved patent

April 16, 2021
News
Leading marine energy developer Minesto reinforces its already extensive patent portfolio covering the company’s unique ocean energy technology. Minesto has been granted a new patent by which the company extends the protection of its core technology.Read more »
The approved patent concerns a technical innovation that Minesto developed and has verified in its tidal energy project in the Faroe Islands. Among other things, the solution provides greater flexibility as to which sea depths Minesto's tidal kite systems can be installed at. “We continue to... Read more »

Continued operational progress in the Faroe Islands

April 13, 2021
Press releases
Leading marine energy developer Minesto continues to make operational progress in the company’s tidal energy project in the Faroe Islands. During electricity production runs over the last weeks Minesto’s DG100 power plant has delivered grid-compliant electricity at new record levels.Read more »
“The team is doing a great job in optimising the DG100 system’s performance. We have now completed a period in continuous operation mode where we have run the power plant in the full range of tidal speeds and surface conditions. It is very pleasing to state that we have reached new record levels in... Read more »

Minesto publishes the annual report for 2020

March 25, 2021
News
Minesto's annual report for the financial year 2020 is now available, in Swedish only, on the company's website.Read more »
To download the annual report, go to: www.minesto.com/investor/rapporter . The annual report is published only in Swedish. For additional information please contact Martin Edlund, CEO +46 31 29 00 60 press@minesto.com About Minesto Minesto is a leading marine energy technology company with the... Read more »

Minesto announces power production performance aligned with simulated predictions

March 23, 2021
Press releases
As part of the continued operations programme in its tidal energy project in the Faroe Islands, Minesto has made significant progress related to electricity generation to grid. The company’s DG100 power plant has reached peak power production performance above 110 kW with average power produced...Read more »
During March, a second DG100 kite system has been delivered to the Faroe Islands and successfully run in electricity production mode. The unit, named “Drekin” after the local word for dragon, incorporates upgrades to improve performance and reliability based on experiences with the first unit. “The... Read more »

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