New innovation extends Minesto’s generic IP protection and further expands its market opportunities
Marine energy developer Minesto has filed a patent application with the aim of further extending the generic patent protection of the unique Deep Green energy technology. The new technical innovation expands the addressable market opportunities and at the same time reduces operating costs.
“The innovation that we have filed for patent protection creates significant commercial value to Minesto as it expands the number of potential development sites and at the same time reduces operating costs and hence the levelised cost of energy of the system”, said Dr Martin Edlund, CEO of Minesto.
The new technical solution developed by Minesto enables launch and recovery of the company’s marine energy converters at the surface regardless of the tether* length. This means greater flexibility as to which sea depths Minesto's systems can be installed at, which is especially interesting in areas with continuous ocean currents.
Minesto currently has ten published patent families that surround the company's unique marine energy technology called Deep Green.
“This patent application is a textbook example of Minesto’s strategy to extend and widen the protection of the company’s core technology. Our IP protection with more than 50 approved patents makes our patent portfolio one of the strongest – if not the strongest – in the industry.”
*The tether is the mooring line that connects Minesto’s subsea kite to the seabed foundation.
For additional information please contact
Magnus Matsson
Communications Manager, Minesto AB
+46 31 774 14 89
press@minesto.com
About Minesto
Minesto is a 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.
In May 2015, Minesto secured a €13m investment from the European Regional Development Fund through the Welsh European Funding Office, for the commercial rollout of Deep Green.
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.
Read more about Minesto at www.minesto.com
Press images and other media material is available for download via bit.ly/minestomedia.
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