Minesto hails 1st order for site development services for its tech

Swedish marine energy developer Minesto AB (STO:MINEST) on Friday said it has for the first time been contracted to provide site development services for its Dragon Class tidal energy technology.

The company will assist “a leading Asian corporation in the offshore energy sector” in assessing a tidal-current site for potential deployment of Minesto Dragon Class tidal energy power plants.

It expects to complete the assignment in the first quarter of 2023. The initial value of the contract is EUR 35,000 (USD 37,700), Minesto added.

“Given the unique production site characteristics of our technology, it is vital that we now offer these services to third-party project developers, in addition to our own ongoing site development activities,” said the company's chief executive Martin Edlund.

(EUR 1 = USD 1.077)

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