Energia
Welsh Government Awards €14.9 Million of EU Funding to Leading Marine Energy Developer Minesto
The €14.9 million European Regional Development Fund grant awarded through the Welsh Government will support the next phase of Minesto's commercial development in Wales . The investment will facilitate:
Counsel General and Brexit Minister, Jeremy Miles , responsible for overseeing European funds in Wales , said:
Economy Minister and Minister for North Wales , Ken Skates added:
Listed on Nasdaq First North in Stockholm since 2015, Minesto has funded the development of its unique marine energy technology, a subsea kite technology called Deep Green, through a mix of private equity and public grants. Having previously received substantial support from the European Regional Development Fund through the Welsh European Funding Office (€13m) and InnoEnergy (€5.5m), Minesto and the Deep Green technology is the EU's largest investment in marine energy to date.
Magnus Matsson
Communications Manager, Minesto AB
+46-31-774-14-89
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.
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/Minesto_media.
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https://news.cision.com/minesto-ab/r/welsh-government-awards--14-9-million-of-eu-funding-to-leading-marine-energy-developer-minesto,c2828906
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