MINESTO | Jotup

First three-month milestone of trouble-free Dragon 12 testing reached - generating valuable data on performance and robustness

Retrieved on:

Wednesday, May 8, 2024

MAR, D12, Electricity, Learning, Investment, Renewable energy

In addition, for the first time, an array of tidal kites is in operation - the 1.2 MW D12 and one 100kW D4, adding valuable production data for array build-out.

Key Points:

In addition, for the first time, an array of tidal kites is in operation - the 1.2 MW D12 and one 100kW D4, adding valuable production data for array build-out.
The data being generated underlines commercial readiness of Dragon Class systems and the continued testing supports both critical sales activities and preparations for product delivery.
Early February 2024, the 1.2 MW powerplant - Dragon 12 - was successfully installed and commissioned at the site in Vestmanna, Faroe Islands.
This has resulted in an ongoing trouble-free three-month period of testing and electricity production, generating valuable results and data to underline commercial readiness of Dragon Class technology at commercial scale.

First three-month milestone of trouble-free Dragon 12 testing reached - generating valuable data on performance and robustness

Retrieved on:

Wednesday, May 8, 2024

MAR, D12, Electricity, Learning, Investment, Renewable energy

In addition, for the first time, an array of tidal kites is in operation - the 1.2 MW D12 and one 100kW D4, adding valuable production data for array build-out.

Key Points:

In addition, for the first time, an array of tidal kites is in operation - the 1.2 MW D12 and one 100kW D4, adding valuable production data for array build-out.
The data being generated underlines commercial readiness of Dragon Class systems and the continued testing supports both critical sales activities and preparations for product delivery.
Early February 2024, the 1.2 MW powerplant - Dragon 12 - was successfully installed and commissioned at the site in Vestmanna, Faroe Islands.
This has resulted in an ongoing trouble-free three-month period of testing and electricity production, generating valuable results and data to underline commercial readiness of Dragon Class technology at commercial scale.

Minesto announces the final outcome of the company's rights issue

Retrieved on:

Wednesday, April 3, 2024

Rights issue, Exercise, BTU, Baker McKenzie, AMERICA, Prospectus, Rights, MAQS, Bookrunner, Person, Security (finance)

GOTHENBURG, Sweden and VÄSTRA GÖTALAND, Sweden, April 3, 2024 /PRNewswire/ -- On 2 April 2024, Minesto AB (publ) ("Minesto" or the "Company") announced the preliminary outcome of the Company's rights issue of up to 13,394,391 units, consisting of three (3) shares and one (1) warrant of series TO4 in the Company each (the "Rights Issue"). The Company has received the final outcome of the Rights Issue, which is identical to the preliminary results, which concludes that 6,527,171 units, corresponding to approximately 48.7 percent of the Rights Issue, have been subscribed for with the support of unit rights. Additionally, applications for subscription of 288,226 units, corresponding to approximately 2.2 percent of the Rights Issue, have been received for subscription of units without the support of unit rights. In aggregate, the subscriptions with the support of unit rights and the applications for subscription without the support of unit rights correspond to approximately 50.9 percent of the Rights Issue. Hence, guarantee commitments of 4,312,385 units, corresponding to approximately 32.2 percent of the Rights Issue, will be utilized. The Rights Issue will provide the Company with proceeds of approximately SEK 100.2 million before deduction of costs related to the Rights Issue. Upon full exercise of all the warrants of series TO4 the Company is expected to raise up to an additional approximately SEK 50.1 million before deduction of cost related to the exercise of the warrants.

Key Points:

The Company has received the final outcome of the Rights Issue, which is identical to the preliminary results, which concludes that 6,527,171 units, corresponding to approximately 48.7 percent of the Rights Issue, have been subscribed for with the support of unit rights.
The Rights Issue will provide the Company with proceeds of approximately SEK 100.2 million before deduction of costs related to the Rights Issue.
The Rights Issue is comprised of 13,394,391 units, of which 6,527,171 units, corresponding to approximately 48.7 percent of the Rights Issue, have been subscribed for with the support of unit rights.
The Rights Issue will provide the Company with proceeds of approximately SEK 100.2 million before deduction of costs related to the Rights Issue.

Minesto announces preliminary outcome of the company's rights issue

Retrieved on:

Tuesday, April 2, 2024

SW, Rights issue, Exercise, BTU, Baker McKenzie, AMERICA, Prospectus, Rights, MAQS, Bookrunner, Person

GOTHENBURG, Sweden and VÄSTRA GÖTALAND, Sweden, April 2, 2024 /PRNewswire/ -- Minesto AB (publ) ("Minesto" or the "Company") announces the preliminary outcome for the Company's rights issue of up to 13,394,391 units, consisting of three (3) shares and one (1) warrant of series TO4 in the Company each (the "Rights Issue"), for which the subscription period ended today, 2 April 2024. The preliminary outcome indicates that 6,527,171 units, corresponding to approximately 48.7 percent of the Rights Issue, have been subscribed for with the support of unit rights. Additionally, applications for subscription of 288,226 units without the support of unit rights, corresponding to approximately 2.2 percent of the Rights Issue, have been received. In aggregate, the subscriptions with the support of unit rights and the applications for subscription of units without the support of unit rights correspond to approximately 50.9 percent of the Rights Issue. Hence, guarantee commitments of preliminary 4,312,385 units, corresponding to approximately 32.2 percent of the Rights Issue, will be utilized. The Rights Issue will provide the Company with proceeds of approximately SEK 100.2 million before deduction of costs related to the Rights Issue. Upon full exercise of all the warrants of series TO4 the Company is expected to raise up to an additional approximately SEK 50.1 million before deduction of cost related to the exercise of the warrants.

Key Points:

The preliminary outcome indicates that 6,527,171 units, corresponding to approximately 48.7 percent of the Rights Issue, have been subscribed for with the support of unit rights.
The Rights Issue will provide the Company with proceeds of approximately SEK 100.2 million before deduction of costs related to the Rights Issue.
The preliminary outcome indicates that 6,527,171 units, corresponding to approximately 48.7 percent of the Rights Issue, have been subscribed for with the support of unit rights in the Rights Issue.
Thus, the preliminary outcome indicates that the Rights Issue is subscribed to approximately 50.9 percent, with and without the support of unit rights, and that guarantee commitments of preliminary 4,312,385 units, corresponding to approximately 32.2 percent of the Rights Issue, will be utilized.

Minesto presents today at Naventus Renewables Summit, Stockholm

Retrieved on:

Tuesday, March 26, 2024

GOTHENBURG, Sweden, March 26, 2024 /PRNewswire/ -- Minesto's CEO Dr Martin Edlund presents today at Naventus Renewables Summit held in Stockholm, 26 March 2024.

Key Points:

GOTHENBURG, Sweden, March 26, 2024 /PRNewswire/ -- Minesto's CEO Dr Martin Edlund presents today at Naventus Renewables Summit held in Stockholm, 26 March 2024.
The event is livestreamed, and Minesto will be presenting at 14.40 CET:

Minesto presents today at Naventus Renewables Summit, Stockholm

Retrieved on:

Tuesday, March 26, 2024

GOTHENBURG, Sweden, March 26, 2024 /PRNewswire/ -- Minesto's CEO Dr Martin Edlund presents today at Naventus Renewables Summit held in Stockholm, 26 March 2024.

Key Points:

Minesto's CEO comments on the ongoing Rights Issue and the commercial agenda

Retrieved on:

Friday, March 22, 2024

Prospectus, Natural Resources, Power, Rights issue, Dragon, Interview, Renewable energy

GOTHENBURG, Sweden, March 22, 2024 /PRNewswire/ -- Minesto's CEO Dr Martin Edlund today comments on the ongoing Rights Issue.

Key Points:

GOTHENBURG, Sweden, March 22, 2024 /PRNewswire/ -- Minesto's CEO Dr Martin Edlund today comments on the ongoing Rights Issue.
In addition, Martin Edlund is taking part in today's episode of podcast "Aktiepodden" by Aktiespararna, where he talks about the company and answers questions related to the Rights Issue.
We are now conducting a Rights Issue to strengthen Minesto's development agenda.
Therefore, we now have a fantastic opportunity to convert a capital injection into industrial and commercial values for the company.

Minesto's CEO comments on the ongoing Rights Issue and the commercial agenda

Retrieved on:

Friday, March 22, 2024

Prospectus, Natural Resources, Power, Rights issue, Dragon, Interview, Renewable energy

GOTHENBURG, Sweden, March 22, 2024 /PRNewswire/ -- Minesto's CEO Dr Martin Edlund today comments on the ongoing Rights Issue.

Key Points:

GOTHENBURG, Sweden, March 22, 2024 /PRNewswire/ -- Minesto's CEO Dr Martin Edlund today comments on the ongoing Rights Issue.
In addition, Martin Edlund is taking part in today's episode of podcast "Aktiepodden" by Aktiespararna, where he talks about the company and answers questions related to the Rights Issue.
We are now conducting a Rights Issue to strengthen Minesto's development agenda.
Therefore, we now have a fantastic opportunity to convert a capital injection into industrial and commercial values for the company.

Minesto welcomes enhanced cooperation between European Union and the Faroe Islands

Retrieved on:

Tuesday, March 19, 2024

Civil service commission, Government, Horizon, Memorandum of understanding, European, European Commission, Memorandum, Enhanced cooperation, Renewable energy

GÖTEBORG, Sweden, March 19, 2024 /PRNewswire/ -- Minesto, leading ocean energy developer, welcomes the newly signed Memorandum of Understanding (MoU) on Enhanced Cooperation between the Government of the Faroe Islands and the European Union.

Key Points:

GÖTEBORG, Sweden, March 19, 2024 /PRNewswire/ -- Minesto, leading ocean energy developer, welcomes the newly signed Memorandum of Understanding (MoU) on Enhanced Cooperation between the Government of the Faroe Islands and the European Union.
The enhanced cooperation opens for strengthened business and public funding opportunities for Minesto, proposing 200 MW tidal energy buildout to support Faroe Islands in reaching 100% renewables by 2030.
Partly funded by EU programme Horizon Europe, Swedish tidal energy developer Minesto has grid connected and successfully installed its unique technology in the Faroe Islands.
"We welcome the enhanced cooperation between the EU and the Faroe Islands, as it means increased business and funding opportunities.

Minesto welcomes enhanced cooperation between European Union and the Faroe Islands

Retrieved on:

Tuesday, March 19, 2024

Civil service commission, Government, Horizon, Memorandum of understanding, European, European Commission, Memorandum, Enhanced cooperation, Renewable energy

GÖTEBORG, Sweden, March 19, 2024 /PRNewswire/ -- Minesto, leading ocean energy developer, welcomes the newly signed Memorandum of Understanding (MoU) on Enhanced Cooperation between the Government of the Faroe Islands and the European Union.

Key Points:

GÖTEBORG, Sweden, March 19, 2024 /PRNewswire/ -- Minesto, leading ocean energy developer, welcomes the newly signed Memorandum of Understanding (MoU) on Enhanced Cooperation between the Government of the Faroe Islands and the European Union.
The enhanced cooperation opens for strengthened business and public funding opportunities for Minesto, proposing 200 MW tidal energy buildout to support Faroe Islands in reaching 100% renewables by 2030.
Partly funded by EU programme Horizon Europe, Swedish tidal energy developer Minesto has grid connected and successfully installed its unique technology in the Faroe Islands.
"We welcome the enhanced cooperation between the EU and the Faroe Islands, as it means increased business and funding opportunities.