Minesto News Update 29 August 2017

  • Distinguished delivery to Holyhead
  • Renewable energy a key area in Wales’ Natural Resources Policy
  • Research says transition to 100% renewables would reduce power disruption and stabilise energy prices
  • Half-Year Report released
  • Minesto awards new foundation supplier
  • Spotlight on Sweden

Distinguished delivery to Holyhead

Minesto has taken delivery of the most distinguished part of the Deep Green ocean energy concept; the wing. It is the first wing built for a Deep Green system in commercial scale and it was delivered to our site in Wales following successful factory acceptance test and static and fatigue load tests. Read the full story here.

Renewable energy a key area in Wales’ Natural Resources Policy

The Welsh Government has published its new Natural Resources Policy, highlighting renewable energy as a national priority for the management of Wales’ natural resources. The policy outlines the Welsh Government’s aim to reach a low-carbon economy that delivers jobs and long-term prosperity. Read the full story here.

Research says transition to 100% renewables would reduce power disruption and stabilise energy prices

Edie.net reports that a research team at Stanford University has outlined a new roadmap for 139 countries to switch to 100% renewable energy by 2050, which it claims would avoid 1.5C global warming and prevent millions of premature deaths from air pollution. According to the study, the transition could create 24.3 million new full-time jobs in the renewables sector, save $25.5trn a year in climate costs and avoid 4-7 million premature air-pollution related deaths each year. Transitioning to 100% renewables would reduce power disruption, increase access to decentralised energy and stabilise energy prices, according to research. Read the full story here.

Half-Year Report released

Our Interim Report for the period 1 January–30 June was published on 17th of August. It is available, in Swedish only, at the Investor Relations section of the web site. Click here to download the report.

Minesto awards new foundation supplier

Minesto has awarded Jones Bros Ruthin (Civil Engineering) Co Ltd the contract to construct the foundation for Minesto’s first commercial-scale tidal energy power plant. Due to the delivery time for the new foundation, the first installation in Holyhead Deep will be moved forward.

“We are well positioned to meet time frames and deliverables towards our public funding partners, to demonstrate the unique advantages of the Deep Green technology and develop this required source of renewable energy”, said Martin Edlund, CEO of Minesto.

Read the full press release here.

Spotlight on Sweden

The latest edition of the Wave and Tidal Energy Network Magazine includes a Spotlight on Sweden feature; a good read about the marine energy industry in Sweden and how the advancement made by blue-and-yellow developers such as Minesto has turned Sweden into a “key player in Europe’s ocean energy sector”. Click here to read the magazine online.


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Contact us

Magnus Matsson
Communications Manager, Minesto

+46-70 570 75 08
press@minesto.com

www.minesto.com

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About Us

Minesto is a 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-effectively in areas with low-flow tidal streams and ocean 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 operations in Sweden, Wales, Northern Ireland and Taiwan. The major shareholders in Minesto are BGA Invest and Midroc New Technology. The Minesto share (MINEST) is traded on the Nasdaq First North Stockholm stock exchange, with G&W Fondkommission as Certified Adviser.

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