Minesto News Update 18 November 2019

  • European Investment Bank to cease fossil fuel funding – launch €1 trillion climate investment strategy
  • Minesto to strengthen U.S. market development at BlueTech Week
  • Minesto features in Dassault Systemes’ sustainability spotlight
  • Information about Minesto’s upcoming rights issue

European Investment Bank to cease fossil fuel funding – launch €1 trillion climate investment strategy

The European Investment Bank (EIB) has decided on a new energy lending policy through which EIB will end financing for fossil fuel energy projects. Instead it will focus future financing to accelerate clean energy innovation, energy efficiency and renewables.

Over the next decade, EIB will unlock 1 trillion euro of climate action and environmentally sustainable investment to enable energy decarbonisation throughout the EU, as well as to increase the impact of investment to support energy transformation outside the EU.

Climate is the top issue on the political agenda of our time,” said EIB President Werner Hoyer. “Scientists estimate that we are currently heading for 3-4°C of temperature increase by the end of the century.”

“We will stop financing fossil fuels and we will launch the most ambitious climate investment strategy of any public financial institution anywhere.”

Read EIB’s full press release here.

Minesto to strengthen U.S. market development at BlueTech Week

Minesto has been invited by the Swedish-American Chamber of Commerce to showcase the company and its technology at the Green Connections Conference arranged during BlueTech Week which is taking place in San Diego this week. Throughout the BlueTech Week, Minesto's CEO Dr Martin Edlund will be making several presentations and participating in panel discussions focusing on offshore energy technologies and the global transition to sustainable energy systems.

“This is a great opportunity for us to engage with key actors within the U.S. renewable energy landscape”, said Martin Edlund.

Read more here.

Spotlight on Minesto in Dassault Systemes’ sustainability series

Global software developer Dassault Systemes, part of Dassault Group, has launched a series of portraits of sustainability pioneers titled Making a Difference, where Minesto and CEO Dr Martin Edlund is one of the pioneers that are portraited.

Read more here.

Information about Minesto’s upcoming rights issue

Minesto intends to perform a rights issue of units in December 2019. Information and terms are available at Minesto’s Investor Relations website via this link.


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Magnus Matsson
Communications Manager, Minesto

+46 31 774 1489
press@minesto.com

www.minesto.com

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About Us

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, 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. Certified Adviser is G&W Fondkommission, email: ca@gwkapital.se, telephone: +46 8 503 000 50.

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