Minesto participates in roundtable at International Energy Agency’s invite-only Energy Innovation Forum on Global Energy Transition

Minesto’s CEO Dr Martin Edlund, was invited to a seat at the roundtable “Managing risks for successful demos” at IEA Energy Innovation Forum in Paris last week. This by invitation-only event aims at addressing the main challenges facing breakthrough technologies moving from the innovation phase to early adoption, and how to accelerate this scale-up to enable the necessary global energy transition towards net zero.

IEA has been at the forefront of fostering exchanges on innovative energy technologies between decision makers and international experts for decades. This event featured strong representation from industry, finance, and policy leaders with several key messages shared and agreed upon.

• The substitution of fossil with renewable energy is at the core of staying within the 1.5-degree global temperature goal and even though the speed of transition is picking up, it is not fast enough. This is acknowledged, and more private and public initiatives are needed and planned for on a global scale.
• The need for innovation complementary to mature technologies such as solar PV, wind turbines and Li-Ion batteries was emphasised heavily, and ocean energy was highlighted as one area with substantial breakthrough potential.
• Policy makers exhibit the strongest financial commitment ever to support energy breakthrough innovation through public investments in demonstration facilities and industrial scale-up. Japanese NEDO (New Energy and Industrial Technology Development Organisation), USA Department of Energy and EU representatives were amongst the public actors outlining their ambitions.

The “Managing risks for successful demos” roundtable that Dr Martin Edlund participated in was a fitting platform to not only introduce Minesto to a global audience as a breakthrough energy technology, but also to share insights and learnings on how to accelerate energy transition at large through innovation.

“It was duly noted that we were the only representative from the ocean energy technology field at this Global Forum. The key message from both industry and policy on focus areas and action match perfectly with Minesto´s scale-up ambitions from the now grid-connected Dragon 12 to large energy producing arrays,” comments Dr Martin Edlund.

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.