Minesto Receives Approval for EU-funded Site Project in France

"The delivery of this project is in line with our product commercialisation roadmap", Minesto's CEO Dr Martin Edlund commented. "It will position Minesto in continental Europe and strengthen our relationship with one of the world's largest power companies. It will also demonstrate Minesto's Deep Green technology off the European Atlantic coastline, which is a substantial tidal resource neighbouring many countries, all with the common need to make the transition to renewable energy systems." ...

STOCKHOLM, 16/10/2019 (informazione.news - comunicati stampa - trasporti)

Minesto's CEO Dr Martin Edlund commented.

The Tidal Stream Industry Energiser Project, known as TIGER, is an ambitious €46.8m project, of which €28m comes from the European Regional Development Fund via the Interreg France (Channel) England Programme.

The TIGER project has been developed to accelerate the deployment of tidal stream energy technology in France and the UK, bringing together 19 partners from industry and academia. This will be the first time that such a significant number of influential developers and stakeholders has been brought together in a single project to deliver a range of outputs that will support the tidal energy industry's future growth.

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.

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.

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