Energia
Swedish Energy Agency Awards Funding to Minesto's Innovative Energy Technology
Minesto develops a patented technology for generating green electricity from tidal and ocean currents. With no suitable tidal resource around Sweden , the Gothenburg -based company has operations and projects also in the UK, the Faroe Islands and Taiwan .
Technology and product development is however taking place in Sweden and the Swedish Energy Agency has now granted Minesto funding of SEK 12.5 million which will support the development of the first marine power plant of Minesto's DG100 model.
The first DG100 systems will be installed in the Faroe Islands , which Minesto recently received funding for from the European Commission.
, said Martin Edlund .
Dr Martin Edlund
CEO, Minesto AB
+46-31-29-00-60
press@minesto.com
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.
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: 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.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/minesto-ab/r/swedish-energy-agency-awards-funding-to-minesto-s-innovative-energy-technology,c2841646
The following files are available for download: