News

October 05, 2022
Minesto, leading marine energy developer, announces that the site development of the world’s first tidal energy kite array in Hestfjord, Faroe Islands, is efficiently progressing according to plan. The total planned capacity of the array is about 30 MW, including twenty-four kite systems at 1.2 MW...Read more »
The assessment work undertaken covers all aspects of the site development, including environmental assessment studies, and the infield cable routing and grid connection works. The focus ahead is to finalise the installation configuration of the first four kites forming the first 5 MW phase, as well... Read more »
September 20, 2022
Minesto will join the Swedish business delegation to the United Nations Climate Change Conference COP27 taking place in Egypt in November. The partnership provides good opportunities to disseminate knowledge on how the ocean’s energy-rich and 100% predictable tidal streams and ocean currents can be...Read more »
Minesto has signed an agreement with Business Sweden to participate as a partner in the Swedish delegation to the UN climate conference, COP27, in Sharm El-Sheikh, Egypt, from 7-18 November. The partnership gives Minesto the opportunity to reach out with information about the company's technology... Read more »
September 09, 2022
Minesto launches new media library on minesto.com/media ( https://minesto.frontify.com/d/C2QTuQ6m2RRx/media-library ) with the ambition to share and distribute high-quality media material. Visitors to the media library will be able to download media material ranging from 3D models and animations,...Read more »
The purpose is to further strengthen the visibility and publicity of the unique technology by making Minesto’s material easily accessible to the press, stakeholders, as well as public.Read more »
September 07, 2022
The second Dragon Class tidal energy power plant “Dragon 4” has now arrived at Minesto’s grid-connected site in Vestmanna, Faroe Islands. This power plant commissioning has now commenced, and it will greatly benefit from previous configuration testing executed with the first unit.Read more »
“As we are now commissioning the second “Dragon 4” unit, it’s with vital experience of cost-efficient onshore and offshore operations. In Vestmanna, we have created a flexible setup, where a small team can assemble and launch the kite in a few hours, practically in all tidal conditions. This... Read more »
August 18, 2022
CEO Dr Martin Edlund: “There are immediate opportunities where our small scale systems and competitive LCOE profile make a difference”.Read more »
Significant events April-June 2022 In April, Minesto launched a build-out plan for tidal energy arrays in the Faroe Islands. The plan includes four new verified sites with the potential to supply 40 percent of the country's growing electricity consumption, enabling the Faroe Islands to reach their... Read more »
July 08, 2022
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Leading marine energy developer Minesto has according to plan successfully commissioned the first unit of tidal power plant “Dragon 4” in grid-connected operation in Vestmannasund, Faroe Islands. The company announces today that the commissioning results verify commercial performance and are fully...Read more »
The first tidal power plant from Minesto's product line Dragon Class, Dragon 4 (100 kW), has been commissioned in Vestmannasund, Faroe Islands, in early summer. The first phase of electricity generation shows that predicted performance is achieved in line with Minesto's previous forecasts and... Read more »
July 06, 2022
Minesto CEO Dr Martin Edlund was invited as a keynote speaker at "Offshore Strategy Day - actioning the ocean energy ambitions", held 23rd of June in Brussels and initiated by Ocean Energy Europe.Read more »
A recording of the speech is now available on our youtube channel and our website: Keynote speech by CEO Martin Edlund at "Offshore Strategy Day" - YouTube Minesto as keynote speaker at Offshore Strategy Day | Minesto The full report from Ocean Energy Europe, with a photo of Dragon 4 on the cover,... Read more »
June 08, 2022
The Annual General Meeting of Minesto AB was held today, 8 June 2022, at Dockyard Hotel at Skeppet Ärans Väg 23 in Gothenburg. Chairman of the Annual General Meeting (“AGM”) was Eric Ehrencrona from MAQS Advokatbyrå.Read more »
The following main resolutions were resolved upon at the AGM. Adoption of income statement and balance sheet as well as group income statement and group balance sheet The AGM resolved to adopt the presented income statement and balance sheet as well as the group income statement and group balance... Read more »
May 25, 2022
Minesto, leading marine energy developer, has now successfully completed the first week of commissioning including satisfactory electricity production and verification of all core functionality with the new Dragon 4 tidal power plant in Vestmanna, Faroe Islands. The kite has generated first...Read more »
“We are very pleased to announce that the first week of commissioning of Dragon 4 has been successfully completed. Every aspect of the project has been fulfilled according to plan and electricity has been successfully generated,” said Martin Edlund, CEO of Minesto. “We started electricity... Read more »

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