News

Minesto steps up the external communication – successful participation at COP27

November 24, 2022
Press releases
COP27 in Sharm El-Sheikh, Egypt has come to an end and Minesto concludes the participation in the Swedish business delegation as both rewarding and value-generating for the company. A strategic initiative, the driving force for Minesto to take part is to bring to light and emphasise the importance...Read more »
Strategic exposure on a global arena Presentations and panels by Minesto included six different sessions onsite and they were broadcasted from the Swedish pavilion. The sessions were well-received by the audience and insightful discussions were evoked. In addition, Minesto’s CEO Dr Martin Edlund... Read more »

Development on Minesto’s Dragon Class project - new record-levels of electricity production

November 22, 2022
Press releases
Minesto’s microgrid power plant Dragon 4 (100 kW) has produced record-levels of electricity in October and November. A second foundation will now be installed, to run a mini array with two Dragon 4 units operating in parallel. The development of Minesto’s utility-scale power plant Dragon 12 (1.2 MW...Read more »
Since its successful commissioning in September, the second Dragon 4 unit has been producing electricity throughout October and November, and has delivered record-breaking results in terms of total electricity generated, peak performance, and energy conversion at large. To enable a mini array of... Read more »

Minesto debuts at COP27, Sharm El-Sheikh, Egypt

November 08, 2022
Press releases
Today marks Minesto’s first panel session in the Swedish Pavillion at COP27 in Sharm El-Sheikh, Egypt. The topic of today’s panel was hosted by Svenskt Näringsliv around the topic ‘How is Sweden enabling the green transition in other countries?’ ( https://invitepeople.com/seminars/47348 ). Minesto’...Read more »
The full programme of all panel discussions and presentations taking place at the Swedish Pavillion, which is organised by Business Sweden, across the whole duration of COP27 is available here: https://invitepeople.com/events/30201/seminars We welcome you to join us digitally by signing up as a... Read more »

Interim Management Statement 1 January-30 September 2022

October 20, 2022
Press releases
CEO Dr. Martin Edlund: “Significant potential for green electricity through tides and ocean currents is found in Southeast Asia. At the time of publication of this text, I am on an extensive meeting tour in Japan, Taiwan, Indonesia, and the Philippines; with the aim of accelerating the...Read more »
Significant events July-September 2022 In the beginning of September, it was announced that the commissioning of the second unit of the tidal energy power plant Dragon 4 was commencing. The commissioning is being executed with important experience of cost-efficient onshore and offshore operations... Read more »

The Swedish Ambassador for the Ocean visits Minesto’s tidal energy site in the Faroe Islands

October 17, 2022
Press releases
In conjunction with a Nordic ocean conference, Swedish Ambassador for the Ocean, Anna Lindstedt, paid a visit to Minesto’s grid-connected tidal energy site in Vestmanna. The visit aimed to highlight how predictable tidal energy can be an important part of the future energy mix, and how Swedish...Read more »
Together with Catarina Hedar, Unit Manager at Swedish Agency for Marine and Water Management and Carl Rosén, Director at Ministry of Enterprise and Innovation, Swedish Ambassador for the Ocean, Anna Lindstedt, visited Minesto’s tidal energy site in Vestmanna. The delegation was welcomed by Minesto’... Read more »

Minesto’s tidal array buildout progressing on schedule

October 05, 2022
Press releases
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 »

Predictable ocean energy on the agenda as Minesto joins the Swedish pavilion at UN COP27

September 20, 2022
Press releases
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 »

Minesto launches new media library

September 09, 2022
Press releases
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 »

Minesto starts commissioning of second “Dragon 4” tidal energy power plant

September 07, 2022
Press releases
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 »

Minesto publishes Half-Year Report 2022

August 18, 2022
Press releases
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 »

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