The European Patent Office has granted leading tidal energy developer Minesto a European patent for the primary patent family covering the company’s core technology.“This strengthens the IP position for our already well-protected Deep Green concept”, says Dr Martin Edlund, CEO of Minesto.

Minesto’s primary patent application was filed in 2006, with additional applications being filed during 2011–2016. Earlier this year the European Patent Office (EPO) announced that they intended to grant a European patent for the primary patent family. EPO has now issued a communication stating that the grant will be published early November.

After being granted the European patent, the primary patent family covering Minesto’s core technology Deep Green will cover 15 key markets worldwide.

“As a technology driven company it is of the outmost importance to continuously develop our IP strategy and the protection of our most valuable asset – our core technology. In that sense, this European patent is a milestone for Minesto”, says Dr Martin Edlund, CEO of Minesto. He elaborates:

“Our primary patent family covering the Deep Green concept is now strengthened and complete. This combined with patented subsystems gives us a strong, long-term protection. Together with our other granted patent families, we have one of the strongest IP positions in the industry.”

Minesto has a well-developed IP strategy to protect current and future innovations. The company’s IP position is also an essential part of the company’s business model as it allows license sales of the Deep Green technology. In total, Minesto has 17 granted patents with a number of patent applications currently being under examination.

“Minesto’s firm commitment to a smart IP strategy will give them a real competitive edge on the markets”, confirms Bart Lindekens, Director IP of KIC InnoEnergy, investor in Minesto. “Protecting know-how with such strategic commitment is crucial for success. We value innovative SMEs treating their intangibles as strategic assets and we are ready to support our companies in doing just that”, says Mr Lindekens.

For additional information please contact:

Dr Martin EdlundCEO, Minesto AB+46 31 29 00 60press@minesto.com 

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

About Minesto

Minesto is a marine energy technology company whose mission is to minimise the global carbon footprint of the energy industry by enabling commercial power production from low velocity tidal and ocean currents.

Minesto’s award winning and patented product, Deep Green, is the only proven marine power plant that operates cost efficiently in areas with low velocity 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. G&W Fondkommission is Minesto’s Certified Advisor. Read more about Minesto at www.minesto.com

Images of Minesto’s management team and Deep Green are available to download from Minesto’s website.

Follow Minesto on Twitter: @MinestoAB.

The information in this press release is such that Minesto AB (publ) shall announce publicly according to the Financial Instruments Trading Act (1991:980), the Securities Market Act (2007:528) and/or the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 08:45 CEST on 21 October 2016.