Göteborg, Sweden,, June 27, 2025 / Prnewswire / – Minesto, the first developer of Ocean Energy, directs a consortium of four who obtained a total of 25 MSEK Grant Funding of the Swedish Energy Agency to build a full microorseaux installation in the Faroe Islands. Minesto is collaborating with the supplier of micro -rorean technologies capture Energy, the public service company Faroeais SEV and the IVL Swedish Environmental Research Institute to demonstrate a single tide micro -roresexion solution which provides a blockage power.
The project is built on a partnership with the technological leader in the management of microrals captures Energy. By integrating Minesto tidal power plants with the Energy capture micro -roresexion capacity, an important global market for autonomous power plants and the island mode network is accessible. The existing SEV customer of Minesto will play a key role in the project as an advanced micro-network user and on the feasibility work linked to future local commercial installations. IVL Swedish Environmental Research Institute, will provide an analysis of experts on the environmental footprint of the solution.
The total two -year consortium project budget is 56 MSEK, 25 MSEK of which is subsidy funding from the Swedish Energy Agency.
The project will offer a complete product offer for a microral installation with integrated battery storage to offer a basic autonomous power plant to an Island mode user. The microral offer deals with the global market for clean, reliable and affordable renewable energy for remote and out -of -network customers who currently depend on fossil fuels or lack electricity supply.
A complete microral installation:
- The microresence system will be built, ordered and operated on the current Minesto production site in existing infrastructure and environmental permits based on Vestmanna.
- The Minesto tidal power station used in the project will be an improved and personalized Dragon class tide.
- The non -network connected islands in the Faroes are the first commercial deployment objectives, the project includes installation preparations such as site assessment and environmental risk assessments.
The project begins in August and will deliver a complete microral in 2026.
“The global activity of multi-lion-European micro-network is a vital parallel track for the construction of large dragon farms (MultimEgawatts networks) based on the same Dragon class systems. This new partnership with Capture Energy Capture Each Production of marshine to the key to local customers who need renewable basic energy,” “ Say Dr. Martin EdlundCEO of Minesto.
The micro -roreseaux market – a strategic market for Minesto
The total-address micro-network market for tidal molers is estimated to 300 billion euros. The market extends over small KW installations to multimygawatt facilities. Minesto will be able to offer its tidal killings for large networks also in this area without modifications, thus contributing to volumes and commercial opportunities for attention.
“The micro -roreseaux company has an important strategic value for Minesto. It is in itself a substantial global market and it also offers market entry projects with new business partners to create confidence in our unique technology and accelerate local data collection for environmental permits and certification”, ” Say Dr. Martin EdlundCEO of Minesto.
THE Faroe IslandsLike many distant island communities, confront unique challenges with energy production and consumption. The islands depend on imported fossil fuels, making them vulnerable to price fluctuations and supply disturbances. At the same time, the islands have vast unexploited marine energy resources, in particular the energy of the tides, which could offer a lasting and local solution to meet increasing energy demands.
“This prize from the Swedish Energy Agency adds financial support and financial recognition to the commercial agenda of Minesto”, “ Martin Edlund concludes.
For more information, please contact:
Cecilia Sernhage, communications manager
+46 (0) 735 23 71 58
ir@mineto.com
The information in this press release is such that Minesto AB publicly announces according to the EU regulation n ° 596/2014 on market abuses (Mar). The information was submitted for publication, through the agency of the contact person set out above, at 14:55 It’s on June 27, 2025.
This information was provided to you by Cionion http://news.cision.com
The following files are available for download:
|
Press release |
Show the original content:https://www.prnewswire.com/apac/news-releases/minesto-led-consortium-awarded-25-msek-grant-to-buildal-energy-power-power-for-baseload-Electricity-Production to–microgrids-302493297.html.html.html.html.html.html
Source Minesto AB
