Minesto SEK 152m Capital Raise | Q3 2025

Background and reasons 

Minesto is a development company in renewable ocean energy with a technology for commercial production of electricity from a previously untapped global natural resource: tidal and ocean currents. Minesto owns and develops a patented technology to convert the kinetic energy in slow ocean currents into electricity. The technology has been verified in a grid-connected production facility in the sea of the Faroe Islands since 2020. In February 2024, the facility was upgraded to full scale 1.2 MW in the form of the Dragon 12 power plant. The Company's patented technology platform, Dragon Class, has achieved significant technical and commercial milestones over the past year. Among other things, the Dragon 12 system, installed in Vestmannasund in the Faroe Islands, has demonstrated an increase in power performance of approximately 25 percent as a result of technical improvements. A key step in the Company's commercialization phase is the planned large-scale expansion in the Faroe Islands totalling 200 MW, which will be implemented in stages and completed by 2030. The first phase consists of the Hestfjord project, where Minesto, in collaboration with local actors, plans to establish a tidal park with an initial capacity of 10 MW (Phase 1). Phase 1 includes the installation of several Dragon 12 systems and marks the start of the long-term expansion. The project is strategically important as it not only demonstrates the scalability of the technology but also enables the integration of renewable marine energy into a real energy system. 

In light of the increased demand for sustainable energy solutions and the Company's ambition to accelerate the commercialization of its technology, the Board of Directors has resolved to carry out the rights issue. 

Press release   

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 is the only verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents. 

Minesto was founded in 2007 and has operations in Sweden, the Faroe Islands, Wales and Taiwan.  

Website: https://minesto.com/