Minesto targets Asian market with Swedish Energy Agency funded program 

Swedish tidal energy developer Minesto has been selected to participate in the Global Innovation Accelerator (GIA), a program funded by the Swedish Energy Agency and operated with Business Sweden. 

According to Minesto, the initiative supports companies with an international market strategy that contribute to a sustainable energy transition.

Minesto said that its participation will focus on expanding its business in Asia. The 12-to-18-month program offers market development support, including market mapping, standardization and certification guidance, trade fair participation, and investor networking.

In February, Norway-based classification society DNV 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.

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.