Leading marine energy technology developer

Minesto is a leading 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. With more than €40 million of awarded funding from the European Regional Development Fund through the Welsh European Funding Office, European Innovation Council and InnoEnergy, Minesto is the European Union’s largest investment in marine energy to date. Minesto was founded in 2007 and has operations in Sweden, the Faroe Islands, Wales, Northern Ireland and Taiwan. The major shareholders in Minesto are BGA Invest and Corespring New Technology. The Minesto share (MINEST) is traded on Nasdaq First North Growth Market.

Solutions:

• Small size and lightweight power plant for low-flow tidal and ocean currents
• Low-cost offshore maintenance and operations

Successful case

Minesto is collaborating with the electric utility company SEV on the grid-connected power plant operations, enabling the Faroe Islands to reach its policy goal of 100% renewable energy by 2030.

• Two 100kW grid-connected systems in Vestmannasund
• Key aspects of operations and electricity production third-party verified by DNV
• Low-cost O&M procedures verified