FLYING UNDERWATER TO CAPTURE ENERGY 

Minesto is a developer of marine energy technology, specifically a device for harnessing tidal power called Deep Green Technology.

The quest to harness the energy of the ocean’s tides has been going on for some time, starting with the world’s first tidal power plant in 1966. But tidal power has encountered issues related to scalability, reliability and cost.

Category 

The primary forms of renewable energy resources are wind, solar, hydro and geothermal power. Tidal power is limited to ocean locations or other large bodies of water. 

Subcategory 

There are a number of other companies in the subcategory of tidal energy, such as tidal lagoons and tidal stream generators, but few are cost-effective, as Minesto’s solution claims to be. 

Deep Green looks and works like a kite, except rather than flying through the air, it flies through the underwater in a figure 8-shaped trajectory, collecting energy from the tidal range, salinity gradients, low-flow tidal streams, currents, waves, and ocean thermal energy. And, thanks to the fact that seawater is 832 times denser than air, it allows for a substantially higher kinetic energy content. 

What differentiates Minesto’s Deep Green Technology is that they’re able to deploy their renewable energy technology at depths of more than 60 meters, rather than on the surface. Their solution is also lightweight, small and capable of operating at low velocities, making it cost-efficient in both tidal and ocean currents. 

The first test of this technology was completed late in 2011, and 5 years later, in 2018, they commissioned their first system on a large commercial scale in Wales, which verified that offshore systems can successfully generate electricity. The estimated global expansion potential is estimated at 600 GW. 

FACTS

Founded in: 2007
Founded by: Anders Jansson, Midroc New Technology and Chalmers Ventures
CEO: Martin Edlund
Headquarters: Västra Frölunda, Sweden
Employees 2021: 58
Listed on a Stock Exchange Revenue: 2020: 44 MSEK

Visit the website of Minesto at: https://minesto.com/

‍