Minesto presents performance data from Dragon Class starting at Annual General Meeting today

In today’s presentation at the AGM (Annual General Meeting), Minesto shares Dragon Class performance data based on accumulated analysis of Dragon 4 power production curve and verified simulation modelling. The data plays a key role in third-party technical feasibility evaluations and in calculating yearly yields for investment proposals at specific site locations.

The power-curve data show power generation at given tidal current speeds and constitutes a good performance measure of how capable the Dragon Class technology is in converting the kinetic energy in the flowing ocean to electric power.

The data presented today explains the importance of matching the right powerplant (Dragon) configuration (modularity) with specific site conditions (e.g. ocean flow conditions) to optimize output at a given tidal site.

Four data sets are presented in the attached graph.

• First (D4 simulated) a simulation curve of the actual D4-system that has been tested since 2022. This curve is based on our in-house CFD (Computational Fluid Dynamics) simulation model.
• Second (D4 achieved) the actual power curve based on testing is plotted indicating that our simulation modelling has high accuracy.
• Third (D4-X wing) show how an extension of the wing (from approx. 5 to 6 metres) with the same power-take off system (100kW) move the power-curve “to the left” and thus provides significantly more power at lower flows.
• Fourth (D4-X 200kW) show the simulated curve of an upgraded PTO (Power Take Off) with a 200kW generator and the larger wing.

The fourth curve is the performance specification that Minesto today can offer customers for installations of smaller powerplants (100-200kW for e.g. a Microgrid installations) at medium flow sites and the third curve show a system for a low flow site.

There are site-specific and technical limitations explaining the shape of the actual power curve. For example, the strength of the anchoring system and the rated power of the generator limit power production in the higher flow range. The full interpretation of power conversion performance is proprietary information only shared selectively with commercial partners under NDA.

The data from the first three-month test-phase of the larger system Dragon 12 (which is a scale-up of the D4) is as expected on-par with the presented D4 data. The Dragon 12 testing is following a stepwise ramp-up program towards optimum flight trajectories and control system settings.

“Based on actual and simulated performance data from both the D4 and the recently installed larger D12 we conclude that the technology is ready for the first Dragon Farms as well as microgrid installations. Equally important, we now have the right tools and capability to optimize the size and configuration of Dragons for specific sites. We also believe that the accumulated test data and documentation on Dragon Class technology makes it ready for third party technical evaluations by commercial actors” said Dr Martin Edlund, CEO of Minesto.

Information: The CEO presentation from today’s AGM will be available in Minesto’s official after the event.

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 €45 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.