Minesto raises 145 MSEK and gets 2,500 new shareholders - Chalmers Ventures

Minesto raises 145 MSEK and gets 2,500 new shareholders

World leading marine energy company Minestoraises another 145 MSEK and gets circa 2,500 new shareholders as a new share issue has been completed to the public in Sweden, and to professional investors. First day of trading with the company’s shares on First North at NASDAQ Stockholm, is set to 9th of November 2015.

Minesto is a marine energy technology company with a patented technology for cost efficient electricity production from tidal and ocean currents. Minesto’s award winning product, Deep Green, is the only marine power plant that operates cost efficiently in areas with low velocity currents. Deep Green resembles an underwater kite with a wing and a turbine that is attached by a tether to a fixed point on the ocean bed, moving swiftly in an 8-shaped trajectory in the current.

 ”In total Minesto is provided with 145.1 MSEK. This confirms that there has been a great interest to sign up for shares in Minesto, as well as from the public and from the larger professional investors”, said Anders Jansson, CEO of Minesto. ”Since we also have secured earlier investments from KIC InnoEnergy and WEFO (Wales European Funding Office), this means that Minesto now have access to capital to about 300 MSEK”. 

The company has thus ensured a fully funded business plan made to fully commercialize the Deep Green technology.