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Minesto

minesto.com

Founded Year

2007

Stage

IPO | IPO

Total Raised

$6.5M

Date of IPO

11/10/2015

About Minesto

Minesto (NASDAQ Stockholm: MINEST) develops a new concept for tidal power plants called Deep Green. The power plant is applicable in areas where no other known technology can operate cost effectively due to its unique ability to operate in low velocities. Minesto expands the total marine energy potential and offers a step change in cost for tidal energy.

Headquarters Location

Vita gavelns vag 6

Vastra Frolunda, SE-426 71,

Sweden

+46 (0) 31-29 00 60

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Expert Collections containing Minesto

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Minesto is included in 1 Expert Collection, including Renewable Energy.

R

Renewable Energy

2,871 items

Includes companies working on technology to support renewable energy generation.

Minesto Patents

Minesto has filed 1 patent.

The 3 most popular patent topics include:

  • Aquatic ecology
  • Fluid dynamics
  • Oceanographical terminology
patents chart

Application Date

Grant Date

Title

Related Topics

Status

7/12/2013

3/12/2019

Aerodynamics, Fluid dynamics, Aircraft wing design, Personifications, Flying boats

Grant

Application Date

7/12/2013

Grant Date

3/12/2019

Title

Related Topics

Aerodynamics, Fluid dynamics, Aircraft wing design, Personifications, Flying boats

Status

Grant

Latest Minesto News

Minesto steps up the external communication – successful participation at COP27

Nov 24, 2022

Minesto AB Thu, Nov 24, 2022 13:05 CET COP27 in Sharm El-Sheikh, Egypt has come to an end and Minesto concludes the participation in the Swedish business delegation as both rewarding and value-generating for the company. A strategic initiative, the driving force for Minesto to take part is to bring to light and emphasise the importance of adding renewable, predictable ocean energy to the renewable energy mix. There is great exposure across all fronts and Minesto gains valuable connections with stakeholders from international governmental organisations and companies. Strategic exposure on a global arena Presentations and panels by Minesto included six different sessions onsite and they were broadcasted from the Swedish pavilion. The sessions were well-received by the audience and insightful discussions were evoked. In addition, Minesto’s CEO Dr Martin Edlund was interviewed by various media and podcasts, and Nasdaq featured Team Sweden on their billboard at Times Square. “Our participation at COP 27 is a part of extended and broadened external communication targeting key stakeholders and potential customers engaged in the global energy transition,” says Dr Martin Edlund. Faroe Islands highlighted as an inspirational case study of clean energy transition Minesto’s keynote session at COP27 – a case study of the Faroe Islands’ energy transition case – was held in the Swedish pavilion on 14th November. Joining Minesto from the Faroe Islands were Minesto's partner and customer utility company SEV – Terji Nielsen, Head of R&D and Helma Maria Trondheim, Researcher, who attended the COP27 as part of the Danish delegation. The session was moderated by Swedish Ambassador for the Ocean, Anna Lindstedt. The panel showcased how the tidal opportunity is pivotal to reach Faroe Islands’ policy goal of 100% renewable energy by 2030. State Secretary to Minister for Climate and the Environment, Sweden, delivered closing remarks at Minesto’s keynote session “In becoming fossil-free, the ocean indeed represents a huge opportunity. It’s been encouraging for me to learn about this innovative and smart technology which really expands the potential of harvesting energy from the ocean. Considering the vulnerability of small island developing states where fossil fuels have been the dominating source of energy for many years, the invention and evolution of this technology gives hope. Also, from a climate justice perspective, this can be part of an important development. I see a potential for ocean energy in general, and specifically Minesto’s technology, not only to energise island states, but also wherever there are tidal streams. The technology should be able to scale up and become an integral part of energy systems also in bigger markets,” says Daniel Westlén in his closing remark. Roundtable discussions with Swedish ministers As part of the official Swedish business delegation program, Minesto took part in two roundtable discussions with Swedish ministers, Romina Pourmokhtari, Minister for Climate and the Environment, and Johan Forsell, Minister for International Development Cooperation and Foreign Trade. During the sessions, Minesto’s CEO Dr Martin Edlund had the opportunity to talk about how Minesto can be an integral part of Sweden’s effort to combat global climate change, and how being an international company with global presence can positively impact Sweden’s trade and commerce. To watch all sessions Minesto took part in: 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, 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, the Faroe Islands, Wales, Northern Ireland 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, 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/Minesto_media . Financial information including reports, prospectuses and company descriptions is available in Swedish at www.minesto.com/investor .

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Minesto Frequently Asked Questions (FAQ)

  • When was Minesto founded?

    Minesto was founded in 2007.

  • Where is Minesto's headquarters?

    Minesto's headquarters is located at Vita gavelns vag 6, Vastra Frolunda.

  • What is Minesto's latest funding round?

    Minesto's latest funding round is IPO.

  • How much did Minesto raise?

    Minesto raised a total of $6.5M.

  • Who are the investors of Minesto?

    Investors of Minesto include EIT InnoEnergy, Midroc Invest, CSE Holding and Verdane Capital.

  • Who are Minesto's competitors?

    Competitors of Minesto include Ocean Renewable Power Company, Concepts NREC, OpenHydro, Verdant Power, Marine Current Turbines and 12 more.

Compare Minesto to Competitors

O
ORPC Maine

Ocean Renewable Power Company, (ORPC) was formed to generate reliable, competitive, emission-free electricity from ocean resources. They are developing modular ocean current generation (OCGEN) technology and incorporating it into ocean and tidal current generation projects.

O
Ocean Renewable Power Company

Ocean Renewable Power develops ocean current generation technology per the company that generates electricity from marine tidal currents reliably and economically.

O
ORECon

ORECon is a wave energy device developer aiming to develop 'MRC' wave powered renewable electricity generator.

O
Ocean Power Delivery

Pelamis Wave Power Ltd is the manufacturer of a system to generate renewable electricity from ocean waves.

B
BioPower Systems

BioPower Systems is a renewable energy technology company based in Sydney Australia. It is developing systems for both wave and tidal power conversion. The company is currently working on ocean-based pilot projects and follow-on market opportunities for its products and services.

Wavebob Logo
Wavebob

Wavebob is an Irish company established by physicist William Dick in 1999. The company is developing a a Wave Energy Convertor ' 'Wavebob', which harnesses the immense power of the ocean to produce clean, renewable energy.The company has invested

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