Project update Vestmanna: Service and inspection of Dragon 12 - demonstration site attracting international study visits
Project Update Vestmanna: Four months of grid-connected operation with the utility-scale Dragon 12 is now followed by service and inspection. Ongoing operations continue to attract visits from international stakeholders and high-level decision-makers.
After four months of grid-connected operation, the Dragon 12 was recovered successfully on the 6th of June for onshore inspection and maintenance program. This is the first inspection of the unit, covering all systems and components. The Dragon 12 will be reinstalled when these activities are completed.
One Dragon 4 unit has been installed since March, with a couple of hardware upgrades compared to previous campaigns. The second Dragon 4 is currently in Minesto's workshop in Gothenburg getting the same upgrades fitted.
Having installed powerplants contributes to progress in environmental monitoring, which is valuable for next phase of build-out in Hestfjord. This monitoring includes sound measurements, bird studies, and whale monitoring.
“Our testing and demonstration in Vestmanna will continue with highest priority. We have hosted three study visits from commercial partners and stakeholders recently and have more planned. Next week, we welcome the EU Commission Director General MARE (Maritime Affairs and Fisheries) and the CEO of Ocean Energy Europe to the site. This is yet another example of the value of having a commercial-scale system in operation,” said Dr Martin Edlund, CEO of Minesto.
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.