Minesto AB

Minesto AB is a Swedish marine energy technology developer focused on minimizing the global carbon footprint of the energy industry. Headquartered in Gothenburg, Sweden, the company specializes in enabling commercial power production from low-velocity tidal streams and ocean currents.

The company's core offering includes its patented "Deep Green" technology and "Dragon Class" tidal kite systems, which generate electricity by flying underwater in a figure-of-eight motion, enhancing energy conversion in areas where other technologies are not cost-effective. Beyond product sales, Minesto provides site development services, operations, service, and maintenance, and geographical licensing. Minesto operates in various global markets, including Sweden, Wales, the Faroe Islands, Northern Ireland, and Taiwan, and is actively exploring opportunities in regions such as South Korea, Canada, and Iceland.

Led by CEO Dr. Martin Edlund, Minesto has recently focused on commercialization, particularly through projects in the Faroe Islands, where its 1.2 MW Dragon 12 unit is grid-connected and producing electricity. The company received a 25 MSEK grant from the Swedish Energy Agency for a microgrid installation in the Faroe Islands and is expanding its market development efforts in Taiwan, including a Memorandum of Understanding with Taiwan Cement. Minesto's Q4 2025 earnings call in February 2026 highlighted a strategic pivot towards commercialization, and its Annual Report for 2025 was published in March 2026.