The Swedish Energy Agency’s multimillion investment is fully in line with Minesto’s technology

The Swedish Energy Agency has announced today that it allocates SEK 105 million to a continued investment in marine energy. The initiative will contribute to exports of Swedish expertise and products.

“The Swedish Energy Agency's latest investment in marine energy is fully in line with our unique Deep Green technology and we are looking forward to forthcoming announcements within the program. It is pleasing to see the agency’s focus on concepts with export potential that can contribute to the global energy transition. Our product has the potential to play an essential role in that transition, by delivering predictable and affordable green electricity to both major power grids and independent micro grids around the world”, said Martin Edlund, CEO of Minesto.

The new program is based on the Swedish Energy Agency's Marine Energy Strategy, which was launched in the spring of 2017. It will take place between 2018–2024 with the objective to increase collaboration between market players while supporting environmentally sustainable innovative solutions that can contribute to cost reductions and efficiency improvements, focusing on technologies that have the potential to be commercialised by 2030.