News & Media

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 »

Minesto publishes Year-End Report 2020

March 18, 2021
Press releases
CEO Dr Martin Edlund: “Despite the coronavirus pandemic, during 2020 Minesto has advanced its positions both in technology through delivery to the electricity grid, and on the market side by establishing partnerships with key players in the energy industry.”Read more »
Significant events October–December 2020 In October, Minesto announced progress in the company's tidal energy project in the Faroe Islands, with successful verification of the DG100 system's most important operational functions as well as of efficient and safe offshore launch and recovery... Read more »

Pareto TV: Minesto & unique green energy (in Swedish)

March 15, 2021
Media
Johan Spetz, Head of Equity Research at Pareto Securities discusses Minesto in Pareto’s daily web TV show “Good morning from the Pareto desk” on 12 March.Read more »

Minesto and Schneider Electric join forces to commercialize marine energy

March 12, 2021
Press releases
Leading marine energy developer Minesto and Schneider Electric, the global leader in the digital transformation of energy management and automation, have entered a Memorandum of Understanding to work together to develop and build ocean energy farms based on Minesto’s Deep Green technology.Read more »
The collaboration between Minesto and Schneider Electric aims at accelerating the commercial roll-out of marine energy to enable the global transition towards net-zero societies, where energy systems that include plannable, renewable energy production are necessary. To leverage the value... Read more »

Minesto resumes operations in the Faroe Islands

March 04, 2021
News
Leading marine energy developer Minesto continuous the operations programme with the DG100 tidal energy powerplant in Vestmannasund, Faroe Islands. This includes verification of electricity production together with the utility customer SEV and third-party certifier DNV. Personnel, hardware, and...Read more »
“We are pleased to be back in action in the Faroes and look forward to push forward providing tidal energy to the Faroese electric grid from the site in Vestmannasund”, said Dr Martin Edlund, CEO of Minesto. “Scaling up and commercialising the technology is the obvious business focus for Minesto... Read more »

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