Minesto Gets Swedish Energy Agency Funds

Tidal energy developer, Minesto, has been granted research funds totaling SEK 5.7 million by the Swedish Energy Agency.

“The decision is a clear sign of confidence from the Swedish Energy Agency in Minesto’s ability to realize the Deep Green technology,” said Dr Heije Westberg, CTO of Minesto.

Minesto’s Deep Green is the proven marine power plant that can extract energy from low-velocity tidal and ocean currents in a cost-effective way. For the last three years quarter scale ocean testing is ongoing outside the coast of Northern Ireland.

In parallel to this, Minesto develops its first power plant in full scale, which is to be launched in Wales in the summer of 2017, the company explained.

Two research projects have received funding from the Swedish Energy Agency. The projects are focused on the further development of Deep Green.

Dr Westberg, added: “These research funds are earmarked for strengthening the further development of Deep Green. The knowledge that will be generated in the projects benefits us, our partners in the projects and hopefully the whole sector of marine energy.”