Minesto AB

Minesto AB is a marine energy technology company founded in 2007 as a spin-off from the Swedish aerospace manufacturer Saab. The company is headquartered in Gothenburg, Sweden, and has operations in Wales, Northern Ireland, the Faroe Islands, and Taiwan. Minesto's core technology is the Deep Green subsea kite, which generates electricity from predictable tidal streams and ocean currents by flying across the main flow direction in a figure-eight trajectory. This patented principle allows the turbine to achieve a relative speed many times greater than the current speed, enabling cost-effective power production even in low-flow areas. The company's modular kite systems have a rated power ranging from 100 kW to 1.2 MW and are designed to be powerful, lightweight, and affordable to install, operate, and maintain. Minesto is listed on the Nasdaq First North Growth Market in Stockholm. The company's mission is to minimize the global carbon footprint of the energy industry by enabling commercial power production from the ocean.