Minesto finds partner for expansion into Australian and New Zealand markets

Marine energy technology company Minesto has inked a collaborative agreement with Hydrokite Project Development, an ocean current and tidal energy project developer, to bring its technology to markets in Australia and New Zealand.

The broadened market presence in Australia and New Zealand is directed towards Tasmania, an Australian island state, with additional project sites in the Northern Territory, Western Australia, and New Zealand being under consideration for potential development.

“This is a logic follow-through of our strategy to establish markets through partnerships and acknowledging the need for local connections and know-how,” said Martin Edlund, CEO of Minesto.

“It also aligns well with our strategy to be a tech provider with services, while engaging in site development through partnerships, to limit financial exposure and benefit from existing local relationships.” 

Manuel Sessink, Founder and CEO of Hydrokite Project Development, who has over 25 years of expertise in the offshore energy sector, said, “I look forward to our partnership and to bring Minesto’s unique tidal power generating technology to Australia and New Zealand.”

In terms of recent news coming from Minesto, the company was awarded a place in the Business Acceleration Programme Southeast Asia (BAPSEA) joint program by the Swedish Energy Agency (SEA) and Business Sweden.

BAPSEA, which commences mid-March, is aimed at supporting Swedish companies with innovative solutions in energy and sustainability to enter the Southeast Asian market.