Minesto's Capital Market Day: Unlocking Ocean Energy's Potential

Minesto, a leading marine energy technology company, recently held its Capital Market Day, providing investors, analysts, and media with insights into its innovative subsea kite technology and ambitious roadmap. The event, hosted at Minesto's workshop in Gothenburg, Sweden, on December 11, 2024, was a testament to the company's commitment to minimizing the global carbon footprint of the energy industry.

Minesto's CEO, Dr. Martin Edlund, delivered a presentation outlining the company's technology, way forward, and work in realizing the first tidal energy dragon farm in Hestfjord, Faroe Islands. The presentation was recorded and is available on Minesto's website and YouTube channel for those who missed the event.

Minesto's subsea kite technology offers a unique advantage over traditional wind and solar power. Unlike wind and solar, tidal streams and ocean currents are predictable and available all over the globe. Minesto's kite system is lightweight, modular, and scalable, unlocking a predictable renewable resource often inaccessible to other technologies. By flying the kite across the main flow direction, Minesto achieves a relative speed many times the current speed, reducing the size of the kite and rotor required. This speed enhancement makes Minesto's technology affordable to install, operate, and maintain, positioning it as a promising addition to the renewable energy mix.



Minesto's ability to harness tidal streams and ocean currents in low-flow areas significantly impacts its potential for widespread adoption and grid integration. The company's patented technology operates cost-efficiently in areas with low-flow tidal streams and ocean currents, opening up vast untapped renewable energy resources. By expanding the global tidal and ocean currents' extractable potential, Minesto can unlock predictable, local, and affordable energy sources. This ability to harness energy from low-flow areas enables widespread adoption and grid integration, as it allows for the installation of power plants in regions previously inaccessible to other technologies.

Minesto's roadmap to a 200 MW tidal energy buildout in the Faroe Islands is a testament to the company's commitment to the global transition towards a sustainable future energy system. The roadmap includes tidal energy buildout in seven site locations in Faroe Island waters, reaching a total of 200 MW, equivalent to about 40% of future energy demand. The recently reached milestone of megawatt-scale electricity generation with Dragon 12 to the grid shifts focus to commercial array buildout.



Strategic partnerships, such as the Power Purchase Agreement (PPA) with SEV, play a pivotal role in Minesto's roadmap to a 200 MW tidal energy buildout. This PPA ensures a stable revenue stream, enabling Minesto to invest in further development and expansion. The PPA also validates Minesto's technology, enhancing its credibility and attractiveness to potential investors. With the Faroe Islands aiming for 100% renewables by 2030, Minesto's partnership with SEV aligns with the region's energy transition goals, fostering a collaborative environment for growth.

In conclusion, Minesto's Capital Market Day provided valuable insights into the company's innovative subsea kite technology and ambitious roadmap. Minesto's unique ability to harness tidal streams and ocean currents in low-flow areas, combined with its strategic partnerships, positions the company as a promising player in the global transition towards a sustainable future energy system. As investors seek opportunities in the renewable energy sector, Minesto's innovative technology and roadmap offer an attractive proposition for those looking to capitalize on the growing demand for clean energy.