Technical progress for Minesto

In October, Minesto’s quarter-scale sea trials of the Deep Green technology have reached new highs of electricity generation. The results correspond to full power production for a full-scale power plant.

Quarter-scale sea tests of Minesto’s unique technology for producing electricity from low-velocity ocean and tidal currents, Deep Green, has been ongoing at Minesto’s test facility in Northern Ireland since 2013. The test results now surpass previously noted maximum levels of electricity generation.

“Following technical development progress in design and control system, the kite is flying with higher trajectory precision than before – which means improved electricity production performance”, says Dr Heije Westberg, CTO at Minesto.

In the tests which Dr Westberg refers to, the quarter-scale model generated an output of more than 3 kW at a tidal current velocity of 0.8 m/s. The results correspond to full power production for a full-scale 0.5MW power plant at 1.75 m/s current velocity. These conclusions are consistently drawn from three independent computational models which Minesto use for simulating full-scale performance.

“This means that our quarter-scale tests indicate adequate power generation performance for the corresponding design of the power plant at full scale. It reduces technical risks in our full-scale project and further strengthens our belief in the commercial viability of the Deep Green technology”, says Dr Martin Edlund, CEO of Minesto.

“We now move forward to see how we through various test methods and simulation can increase performance of the technology further. The next step is to, in the weeks to come, begin testing of a new improved wing design”, says Dr Heije Westberg.

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 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 10:00 CET on 2 November 2016.