Minesto strengthens market activities in Australia and New Zealand by partnering with local project developer
Minesto, leading ocean energy developer, strengthens the market activities in Australia and New Zealand by signing collaboration agreement with a new business partner, Hydrokite Project Development. The new partner is established fit-for-purpose to exclusively bring Minesto’s technology to these new markets.
Minesto expands the market activities in Australia and New Zealand by signing local business partner Hydrokite Project Development to spearhead market entry activities in the region. Adding to the potential project portfolio, the Australian island state of Tasmania is the initial focus, with further potential development sites in the Northern Territory, Western Australia and New Zealand also under consideration.
“This is a logic follow-through of our strategy to establish markets through partnerships and acknowledging the need for local connections and know-how. It also aligns well with our strategy to be a tech provider with services, while engaging in site development through partnerships, to limit financial exposure and benefit from existing local relationships,” said Dr Martin Edlund, CEO of Minesto.
Manuel Sessink is the founder and CEO of Hydrokite Project Development and brings over 25 years of extensive experience in the offshore energy industry. Over the past decades, Manuel has held senior executive leadership positions with major players in the energy industry, including BHP, Santos, and INPEX.
“I look forward to our partnership and to bring Minesto’s unique tidal power generating technology to Australia and New Zealand”, says Manuel Sessink.
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.