Minesto secures €15 million

Minesto, a Swedish wave energy developer, has secured SEK 145 million (€15.5 million) and attracted 2,500 new shareholders following the issue of new shares.

According to Minesto, the company has ensured a fully funded business plan for the development of its Deep Green wave energy technology.

Anders Jansson, CEO of Minesto, said: “In total Minesto secured SEK 145.1 million. This shows a great interest in signing up for Minesto’s shares, both from public and larger professional investors.”

He added that securing these funds, in addition to WEFO (Wales European Funding Office) and KIC InnoEnergy investments, Minesto now has access to the capital of approximately €32 million.

The offer to the public in Sweden consisted of 18.9 million units, with the offer to professional investors of almost 7 million units.

According to Minesto, the first day of trading at NASDAQ is planned for November 9, 2015.

Image: Minesto/Deep Green technology