Continued collaboration between Minesto and Swedish Energy Agency - 3 MSEK funding awarded for upgrading of mooring system
The Swedish Energy Agency has awarded Minesto a 2.8 MSEK grant to support development and testing of next generation mooring system. The grant co-funds a project through which Minesto will advance performance of the unique tether system that moors the powerplant to the seabed.
Minesto has been awarded funding by the Swedish Energy Agency to continue optimization of tethering solutions to further leverage reliability and performance of this core system.
The funding is part of the CETPartnership (Clean Energy Transition Partnership) program and include collaboration with Swedish, Spanish and French partners, in coordination by RISE Research Institutes of Sweden:
Smartmooring | Innovate sensing for moored ocean energy systems
“We are very pleased that the Swedish Energy Agency continues its support for Minesto. This investment strengthens our technology-base in a core competitive area in collaboration with key partners and suppliers”, said Dr Martin Edlund, CEO of Minesto.
For additional information, please contact
Cecilia Sernhage, Chief Communications Officer
+46 735 23 71 58
ir@minesto.com
About Minesto
Minesto is a leading marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling plannable commercial power production from the ocean.
Minesto’s award winning and patented product 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 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. Certified Adviser is G&W Fondkommission.
Read more about Minesto at www.minesto.com
Press images and other media material is available for download via minesto.com/media
Financial information including reports, prospectuses and company descriptions is available in Swedish at www.minesto.com/investor.