Minesto Named One of Sweden’s Hottest Technology Companies

SeaDiscovery.com
Thursday, April 18, 2013
Photo: Minesto

Nordic marine energy technology company Minesto has been included in the annual list of the hottest Swedish young technology companies.

The list of 33 promising Swedish technology companies, “the 33 list,” is compiled by the two Swedish technology and business magazines Ny Teknik and Affärsvärlden with a view of finding “the next Ericson or SKF.” A thorough research process has narrowed 284 nominees down to the final chosen 33, which were announced at a gala in Stockholm, Sweden.

One of the main criteria for entering the list is that the company offers a step change technology for its industry. Minesto does this through unlocking the potential to cost efficient electricity production from low velocity tidal and ocean currents using its innovative marine power plant, Deep Green. Most actors in the industry develop power plants suitable for high velocity currents, hence these are not cost efficient in the low velocity currents that Deep Green operates in. Low velocity currents are estimated to represent at least half of the tidal and ocean current energy potential on the global arena.

The selected companies all fulfil criteria that include having developed a unique and innovative product or service, with a great international potential to offer a step change technology for its industry. The 33 selected companies are equal winners and are presented in no particular order.

Sweeping underwater kite

Deep Green resembles a sweeping underwater kite, comprised of a wing and a turbine which is secured to the seabed with a tether and moves with great speed in an eight-shaped path in the tidal or ocean current.

Compared to other traditional and renewable energy sources, tidal and ocean current energy is considerably more predictable and reliable and causes no visual and positive environmental impact. Marine energy from the world’s ocean has huge potential. Deep Green, with its low weight and ability to operate in low velocity currents, has several advantages compared to other tidal and ocean current power plants: the catchment area is much larger, and service and maintenance is more cost efficient, resulting in low electricity production costs, comparable with traditional energy sources.

www.minesto.com
 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Wärtsilä Expects 5% Sales Growth

Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. According to Wärtsilä, third quarter

MacGregor Reorganizes into 7 Operative Divisions

MacGregor, part of Cargotec, announces changes in its operative structure and starts a reorganization into seven operative divisions which will become effective on January 1, 2015.

Iridium Partners with Trimble to Support Expansion

Iridium Communications Inc. announced an agreement with Trimble that expands the company's use of satellite communications in its core Transportation and Logistics

Technology

Nordic Wins with Noble

Nordic Maritime, a leading offshore service operator, today announced a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy,

Foster Wheeler to Upgrade ExxonMobil's Antwerp Refinery

Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and construction

Pemex Suspends Eviction of Workers in Campeche

Due to the behavior shown by the low pressure system in the Gulf of Mexico, whose career was diverted in the last hours, the Technical Analysis Group Emergency

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2245 sec (4 req/sec)