Minesto Fuels Ocean Energy Future with Major Capital Raise
September 18, 2025, 9:31 am
Minesto, a leading marine energy firm, seeks a crucial SEK 152.4 million capital injection. This strategic rights issue, pending shareholder approval on October 3, 2025, will accelerate the company's commercialization efforts. Funds target loan repayment, Dragon Class system upgrades for the Hestfjord project, and global market expansion. The move underscores Minesto's commitment to deploying its unique tidal and ocean current technology. It aims to establish large-scale ocean power production, starting with a 200 MW expansion in the Faroe Islands. Shareholders can subscribe for new shares at SEK 1.85, with a record date of October 8. This capital infusion is vital for advancing Minesto's mission to minimize the global carbon footprint through sustainable ocean energy solutions. The initiative leverages robust guarantee commitments, securing 65% of the offering. This positions Minesto for significant growth in the renewable energy sector.
Minesto, a vanguard in marine energy, is moving to secure substantial capital. The company's Board of Directors has initiated a rights issue. This aims to raise approximately SEK 152.4 million. The plan hinges on shareholder approval. An Extraordinary General Meeting (EGM) is called for October 3, 2025.
The record date is October 8, 2025. This determines eligible shareholders. The subscription period runs from October 10 to October 24, 2025. Trading in subscription rights occurs between October 10 and October 21. Trading in paid subscribed shares (BTAs) begins October 10. It continues until registration, likely November 12.
Approximately 10% supports permit processes and detailed design. This prepares for establishing the Hestfjord facility. Another 10% funds strategic investments. These enable entry and expansion into new markets. The final 10% initiates additional projects in priority regions. This comprehensive allocation ensures robust development.
The technology is proven. A grid-connected facility operates in the Faroe Islands since 2020. It was upgraded to the 1.2 MW Dragon 12 power plant in February 2024. This demonstrated a 25% increase in power performance. The Dragon Class platform continually achieves technical milestones.
The Hestfjord project is strategically vital. It proves technology scalability. It facilitates marine energy integration into a real energy system. This project paves the way for broader deployment.
Minesto has secured strong backing. Guarantee commitments total SEK 99.0 million. This covers approximately 65.0% of the issue. Board members and senior management, including CEO Martin Edlund, also intend to subscribe. Their non-binding intentions cover about 0.1% of the issue. These commitments underscore confidence in Minesto's future.
Vator Securities AB acts as financial advisor and issuing agent. MAQS Advokatbyrå serves as legal advisor. Their expertise guides Minesto through this complex process.
Minesto’s mission is clear. It aims to minimize the global carbon footprint. It provides plannable commercial power from the ocean. This rights issue positions the company for significant advancement. It moves Minesto closer to becoming a dominant force in sustainable ocean energy. The capital raise is crucial for scaling up operations. It will facilitate broader market penetration. Minesto is building a sustainable energy future.
Minesto, a vanguard in marine energy, is moving to secure substantial capital. The company's Board of Directors has initiated a rights issue. This aims to raise approximately SEK 152.4 million. The plan hinges on shareholder approval. An Extraordinary General Meeting (EGM) is called for October 3, 2025.
Strategic Capital Infusion
This capital raise is critical. It targets accelerated commercialization. Minesto seeks to expand its patented ocean power technology. The rights issue represents a pivotal step. It fuels Minesto’s ambitious growth strategy.Understanding the Rights Issue
The Board resolved the rights issue on September 16, 2025. Shareholders will receive preferential rights. Each existing share yields two subscription rights. Five subscription rights enable subscription for one new share. The subscription price stands at SEK 1.85 per share.The record date is October 8, 2025. This determines eligible shareholders. The subscription period runs from October 10 to October 24, 2025. Trading in subscription rights occurs between October 10 and October 21. Trading in paid subscribed shares (BTAs) begins October 10. It continues until registration, likely November 12.
EGM: A Decisive Meeting
The EGM on October 3, 2025, is paramount. Shareholders will vote on approving the Board's resolution. This approval greenlights the rights issue. The proposed agenda includes electing a chairperson. It also covers formal procedures like approving the voting register and agenda. The meeting ensures due process for this significant financial decision.Funding Key Growth Initiatives
Proceeds from the rights issue are strategically allocated. Repaying a June 2025 loan takes priority, utilizing about 15% of the funds. A substantial 55% is earmarked for upgrading Dragon Class systems. This adapts them for the Hestfjord configuration and Microgrid product range.Approximately 10% supports permit processes and detailed design. This prepares for establishing the Hestfjord facility. Another 10% funds strategic investments. These enable entry and expansion into new markets. The final 10% initiates additional projects in priority regions. This comprehensive allocation ensures robust development.
Minesto's Pioneering Technology
Minesto's core is its patented Dragon Class technology. This system converts kinetic energy from ocean currents into electricity. Its unique advantage lies in operating efficiently in low-flow tidal streams. This capability unlocks a previously untapped global energy resource.The technology is proven. A grid-connected facility operates in the Faroe Islands since 2020. It was upgraded to the 1.2 MW Dragon 12 power plant in February 2024. This demonstrated a 25% increase in power performance. The Dragon Class platform continually achieves technical milestones.
The Faroe Islands Expansion
A key commercialization phase involves the Faroe Islands. Minesto plans a large-scale expansion there. The target is 200 MW by 2030. The Hestfjord project represents Phase 1. This initial 10 MW tidal park will install several Dragon 12 systems. It is a collaborative effort with local partners.The Hestfjord project is strategically vital. It proves technology scalability. It facilitates marine energy integration into a real energy system. This project paves the way for broader deployment.
Shareholder Considerations
Shareholders opting out of the rights issue face dilution. Their ownership could dilute by up to 28.6%. However, they can sell their subscription rights. This may financially compensate for the dilution effect.Minesto has secured strong backing. Guarantee commitments total SEK 99.0 million. This covers approximately 65.0% of the issue. Board members and senior management, including CEO Martin Edlund, also intend to subscribe. Their non-binding intentions cover about 0.1% of the issue. These commitments underscore confidence in Minesto's future.
Timeline and Advisors
A prospectus detailing full terms is expected around October 6, 2025. The preliminary outcome of the rights issue is anticipated on October 28, 2025.Vator Securities AB acts as financial advisor and issuing agent. MAQS Advokatbyrå serves as legal advisor. Their expertise guides Minesto through this complex process.
Commitment and Future Outlook
Board and senior management members have entered lock-up undertakings. They commit not to sell shares for 180 days after the issue announcement. This demonstrates long-term commitment. It aligns their interests with shareholders.Minesto’s mission is clear. It aims to minimize the global carbon footprint. It provides plannable commercial power from the ocean. This rights issue positions the company for significant advancement. It moves Minesto closer to becoming a dominant force in sustainable ocean energy. The capital raise is crucial for scaling up operations. It will facilitate broader market penetration. Minesto is building a sustainable energy future.