Alumni company Minesto receives 160 million SEK
2019-06-05 10:39 by Adam Lindberg
Minesto receives 160 million SEK to further commercialise their green technology
Minesto is a marine energy technology developer, founded in 2007 as a spin-off from Swedish aerospace manufacturer Saab. Since then, Minesto has successfully developed the unique Deep Green technology, which enables efficient harvesting of the energy in tidal streams and ocean currents. Their revolutionary concept for generating electricity from the ocean that unlocks a so far untapped renewable energy resource. The company has operations in Sweden, Wales, Northern Ireland and Taiwan, with headquarters in Gothenburg, Sweden. The Minesto share is listed on the Nasdaq First North stock exchange.
In many ways, Chalmers Venture’s early investment in Minesto symbolise our long-term strategic perspective and commitment
In 2006, Saab engineer Magnus Landberg invents the concept behind Deep Green. The invention, then known as Enerkite, is brought to Chalmers School of Entrepreneurship. Anders Jansson, further explored the viability of the technology as part of his M.Sc. thesis and founded Minesto AB the following year, with the support of Midroc New Technology and Chalmers Ventures.
Minesto has since the start grown to become one of Europe’s most renowned clean tech company with key technology advantage in an area that is the next frontier for the energy market. Today they have raised > € 40 million over a 8 year period and listed the share on Nasdaq First North stock exchange. The long-term investment commitment is part of Chalmers Ventures holistic strategy.
Ingvar Andersson, former CEO of Chalmers Ventures: ”We knew from the start that Minesto would require heavy investments and as a consequence have major diluting implications on our position. That’s ok as long as the case possess enough potential. The Minesto team for sure have delivered and done a remarkable job.”