Minesto builds offshore operations IP to increase earnings potential

Swedish marine energy developer Minesto takes steps to include concepts related to offshore operations in its already strong patent portfolio. The increased scope of intellectual property will enable Minesto to create licensing deals for installation, operations and maintenance of Deep Green systems, while also increasing the earnings potential for each sold device. 

“The uniqueness of our technology makes it possible for us to build intellectual property and protect concepts related to installation and operations and maintenance (O&M)”, says Martin Edlund, CEO of Minesto.

Minesto’s existing patent portfolio consists of ten patent families that protect both the fundamental principle of the Deep Green technology and its key subsystems. Recently, Minesto filed its first patent for offshore operations related to the Deep Green technology and going forward, the Swedish marine energy developer aims to widen the patent portfolio to include the scope of installation and O&M.

“This is an integral part of our business model and by licensing O&M concepts, we enable continuous revenue streams from sold and installed Deep Green systems”, says Martin Edlund.

As much as half of an array of Minesto devices’ cost of energy derives from installation and O&M. Building intellectual property assets in this area is therefore long term strategically important.

For additional information please contact:

Magnus Matsson Communications Manager, Minesto AB +46 70 570 75 08 press@minesto.com

About Minesto

Minesto is a marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling commercial power production from the ocean.

Minesto’s award winning and patented product, Deep Green, is the only verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents.

In May 2015, Minesto secured a €13m investment from the European Regional Development Fund through the Welsh European Funding Office, for the commercial rollout of Deep Green.

Minesto was founded in 2007 and has offices in Gothenburg, Sweden, Holyhead, Wales and Portaferry, Northern Ireland. The major shareholders in Minesto are BGA Invest and Midroc New Technology. The Minesto share (MINEST) is traded on the Nasdaq First North Stockholm stock exchange, with G&W Fondkommission as Certified Adviser.

Read more about Minesto at www.minesto.com

Press images and other media material is available for download via bit.ly/minestomedia.