News

Minesto's management shifts to new incentive plans

August 26, 2019
Press releases
Minesto's senior executives in Sweden have acquired a total of 280,000 warrants within the framework of the employee stock option plan PO4 decided by the AGM. At the same time, a transfer of outgoing warrants of series PO3 has been carried out in a separate transaction between Minesto’s CEO...Read more »
PO4 is one of three employee stock option plans approved by Minesto's Annual General Meeting in 2019. Minesto's senior executives Martin Edlund (CEO), Fredrik Ahlström and Bernt Erik Westre have acquired 120,000, 80,000 and 80,000 warrants respectively (a total of 280,000) of series PO4 at a price... Read more »

Minesto resumes DG500 kite system operations

August 15, 2019
Minesto's marine energy converter DG500 launched in Holyhead, before being towed to the Holyhead Deep site. Photo: Warren Cardwell
Press releases
Leading marine energy developer Minesto has resumed testing of its commercial-scale DG500 kite system at the company’s Holyhead Deep site off North Wales.Read more »
“We are very pleased to be back in the water with the DG500 kite system, and we are looking forward to the continued testing operations. The team has made a great effort in upgrading the systems over winter and has executed the installation activities in an efficient and safe manner” , said Minesto... Read more »

Minesto’s CEO Martin Edlund named Presenter of the Year

June 24, 2019
Press releases
Minesto’s CEO Dr Martin Edlund has been awarded the FH Presentation Award 2018 in the category Micro Cap Presenter of the Year for consistently and skilfully presenting the Minesto business and investment case to capital market stakeholders.Read more »
Martin Edlund was presented the award alongside other winners and well-known names in Swedish business such as Martin Lundstedt, Volvo Group, Johan Forssell, Investor and Ulf Petersson, journalist at financial newspaper Dagens Industri. The FH Presentation Award is arranged by Financial Hearings,... Read more »

Swedish Energy Agency awards funding to Minesto’s innovative energy technology

June 18, 2019
Press releases
Swedish marine energy developer Minesto has received additional public support and funding for the development and commercialisation of its marine energy technology called Deep Green. The Swedish Energy Agency has awarded Minesto a SEK 12.5 million grant to the development of the company’s marine...Read more »
“Climate change and the transition to renewable energy is a global challenge in which Swedish technology like ours can play a significant role. It is therefore crucial that the Swedish innovation system is involved and supports the development of what could be a new Swedish export industry”, said... Read more »

Minesto secures €2.5m European Commission funding for first customer project

June 10, 2019
Picture of the Vestmannasund strait in the North West part of the Faroe Islands. Photo: SEV
Press releases
Leading marine energy developer Minesto has been awarded a €2.5 million grant from the European Commission’s SME Instrument programme. The awarded funding will support the installation of Minesto’s technology in the Faroe Islands together with the utility company SEV.Read more »
“This is great news for Minesto and our joint project with the utility customer SEV”, said Dr Martin Edlund, CEO of Minesto. “The EU community once again show trust and commitment to our technology and commercialisation roadmap.” Minesto will receive a €2.5 million grant from EU’s SME Instrument... Read more »

Welsh Government awards €14.9 million of EU funding to leading marine energy developer Minesto

May 31, 2019
Press releases
The Welsh Government has announced their continued support to leading marine energy developer Minesto following the award of €14.9 million of EU funding for the next phase of Minesto’s tidal energy scheme in Wales.Read more »
Commenting on the funding decision, Minesto’s CEO Dr Martin Edlund said: “This is a key contribution to the commercialisation of our technology and a strong sign of commitment from the Welsh Government. We are pleased to see that we share an agenda to industrialise tidal energy in Wales, to enable... Read more »

Minesto signs MoU with the Government of Antigua and Barbuda for Eastern Caribbean feasibility study

February 26, 2019
Press releases
Marine energy developer Minesto has signed a Memorandum of Understanding with the Government of Antigua and Barbuda. Through a feasibility study, facilitated by the United Nations Office for Project Services, the parties will explore the possibilities of supplying the Eastern Caribbean with...Read more »
Minesto and the Government of Antigua and Barbuda have agreed to conduct a joint ocean resource feasibility study of the potential deployment of Minesto’s marine energy technology Deep Green around Antigua and the wider Eastern Caribbean region. The collaboration will be facilitated by the United... Read more »

Minesto raises SEK 44.4 million from warrants program

February 11, 2019
Press releases
Marine energy developer Minesto has concluded its warrants program of series TO 2. In total, 98 percent of outstanding warrants were exercised, which means that Minesto will add approximately SEK 44.4 million in proceeds before issue costs to the commercialisation activities of the company’s unique...Read more »
Commenting on the outcome of the warrants program Minesto’s CEO Dr Martin Edlund said: “We are pleased that so many have chosen to exercise their warrants and subscribe for new shares in Minesto. We will use this capital injection together with our other sources of funding to continue the... Read more »

Minesto’s main owners exercise all of their subscription warrants

January 23, 2019
Press releases
Minesto's largest shareholders BGA Invest and Midroc New Technology has underlined their long-term commitment in Minesto by exercising all of their warrants held in Minesto AB. The subscription period for Minesto's TO 2 warrants runs until 8thof February 2019.Read more »
Minesto's two main owners BGA Invest and Midroc New Technology have made further investments in Minesto by having exercised all of their “MINEST TO 2” warrants held in Minesto AB. “As long-term and active owners in Minesto, BGA Invest and Midroc New Technology have been crucial to take the company... Read more »

Minesto enters formal planning phase with Welsh Government for second stage of public funding

December 21, 2018
Minesto's marine energy converter DG500 during its commissioning program in the Holyhead Deep, Wales
Press releases
Marine energy developer Minesto has taken the next step towards commercialisation of its subsea kite technology and the development of the marine energy sector in Wales. The company has entered the formal planning phase with Welsh Government for the second stage of public funding for Minesto’s...Read more »
The Welsh Government has confirmed that it will engage with Minesto in advanced business planning for the second stage of public funding for Minesto’s tidal energy project in Holyhead Deep off Anglesey, North Wales. “This decision is a strong sign of comfort from the Welsh Government and by such, a... Read more »

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