Video: Projects Update by CEO Dr Martin Edlund

Minesto has today published a video with CEO Dr Martin Edlund, where he gives an update on the company’s different projects.

The video is available to watch on Minesto’s website. Items from the update include:

  • Vestmannasund, Faroe Islands. Project and collaboration with electric utility SEV are going full steam ahead. Grid connection is being prepared and hardware development (DG100) is going according to plan.
  • Holyhead Deep, Wales. The project has been fuelled by the recent announcement of €14.9 million of EU funding. The hardware is ready following upgrades to the DG500 kite system. Minesto's operations team in North Wales is now preparing for launch and testing.
  • Taiwan and Florida. Great opportunities to move ahead with both these flagship ocean current projects this Autumn.
  • Public funding strategy. Satisfying outcome of Minesto’s strategy to attract public funding support to the company’s projects. The recent awarded public sector funding is all targeting the commercial leap. The landscape of various public funding support suitable to ocean energy projects today is comprehensive, and Minesto is very well-equipped to go after larger project support.

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Contact us

Magnus Matsson
Communications Manager, Minesto

+46 31 774 1489


About Us

Minesto is a leading 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. 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, 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:, telephone: +46 8 503 000 50.


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