DNV completes independent review of Minesto’s Dragon-class technology

Norway-based classification society DNV has completed an independent technical review of Minesto’s Dragon-class technology, reinforcing the investment case for its planned 10 MW array in the Faroe Islands.

The assessment, initiated in the autumn of 2024, evaluated the energy conversion performance, production volumes, and installation procedures of the Swedish tidal developer’s Dragon kite technology. 

The review process included full disclosure of technical data, workshops with Minesto’s development team, and an on-site visit during offshore installation in the Faroe Islands.

According to Minesto, the findings support its plans for scaling up from single-kite operations to arrays, with the potential for competitive levelized cost of energy (LCOE) due to the system’s low weight and efficient handling procedures.

“As with all novel technologies, including ours, there is a strong need among potential customers and partners for input from independent trusted sources on risks and commercial readiness, especially as we are scaling-up and moving from single-kite operations to arrays. We can see that the conclusions and quality of the review performed by DNV is of great value for us in satisfying this need,” said Martin Edlund, CEO of Minesto.

Minesto is sharing the review results and technical documentation under NDA with selected partners and potential customers.

“It is a large undertaking to share comprehensive data on our technology with external parties. This work was successfully completed and it has strengthened our technical documentation further,” Edlund added.

DNV also identified technical risks and provided recommendations, which Minesto has incorporated into its development strategy.

“It is satisfying to conclude that the technical risks identified by DNV align with our internal assessment and support our development priorities. We are ready and eager to implement this in the immediate next step, delivering the Hestfjord Dragon Farm,” Edlund concluded.

In December 2024, Minesto finalized the design and technical specifications for its upgraded Dragon 12 tidal energy system, marking a step toward deploying the first Dragon farm at Hestfjord in the Faroe Islands.