GOTHENBURG, Sweden, Feb. 26, 2026 /PRNewswire/ — CEO Dr Martin Edlund: “A year of global brand and technology exposure and grid-connected electricity production with commercial-scale powerplant”
Significant events October-December 2025
On 28 October, Minesto announced the outcome of the company’s rights issue of up to 82,364,595 shares. 33,436,356 shares, corresponding to approximately 40.6 percent of the Rights Issue, had been subscribed for with the support of subscription rights. Additionally, applications for subscription of 575,828 shares, corresponding to approximately 0.7 percent of the Rights Issue, had been received for subscription of shares without the support of subscription rights. In aggregate, the subscriptions with the support of subscription rights and the applications for subscription without the support of subscription rights correspond to approximately 41.3 percent of the Rights Issue. Hence, guarantee commitments of 19,501,329 shares, corresponding to approximately 23.7 percent of the Rights Issue, will be utilized. The Rights Issue provides the company with proceeds of approximately SEK 99.0 million before deduction of costs related to the Rights Issue.
On 30 October, Git Sturesjö Adolfsson resigned as a member of the Company’s Board. Deputy Board Member Andreas Gunnarsson assumed her position.
The Board of Directors resolved to allow Fenja Capital to set off its outstanding loan claims, including accrued interest, totalling approximately SEK 22.2 million as payment for part of the shares that Fenja Capital has been allocated and subscribed for in the Rights Issue.
On 8 October, Minesto invited investors and the public with an interest in technology and energy systems to a unique opportunity to experience firsthand the tidal energy kite Dragon 4 “Íðunn” as she was brought home for a break from production duty at the company’s demonstration site in the North Atlantic where it produces electricity to the Faroe Islands grid. The event attracted around 150 guests.
In October, Minesto was part of a high-level Swedish delegation to South Korea aiming to explore new partnerships and strengthen bilateral collaboration in the green transition. The delegation was led by HRH Crown Princess of Sweden and supported by Swedish minister for Foreign Affairs and Swedish minister for Infrastructure and Housing. The delegation was part of Focus Asia – Sweden’s strategy for trade and investment in the region. Extensive tidal and ocean current resources make South Korea a highly attractive market for Minesto.
In November, Minesto participated in high-level Swedish business delegation to Canada in connection with the royal couple’s state visit. The delegation, led by the Swedish Minister for Energy and Business and Minister for Defence, aimed to strengthen Swedish-Canadian relations and promote innovation with focus on AI, defence & security and electrification. Significant ocean resources with tidal streams and political support for ocean energy make Canada a highly attractive market for Minesto.
Minesto was selected to be part of InnoEnergy’s annual industry event The Business Booster, this year in Lisbon in October. InnoEnergy, initiated by the European Institute of Innovation and Technology (EIT), is Europe’s investment company at the forefront of clean energy transition and Minesto was invited as one of the industrial scale-ups driving Europe’s energy transition.
Minesto announced that incentive programme LTI 2021 was completed, LTI 2025 will commence and that major shareholder, the CEO and other senior executives have increased their shareholdings.
The Company’s Board of Directors dismissed a claim for damages directed against them from the former major shareholder BGA Invest AB as unfounded. The claim for damages is allegedly based on the Board of Directors’ resolution to allot shares to BGA in the Company’s rights issue carried out during autumn 2025.
After the end of the period
In January, Minesto was selected for in-depth investment advisory support by the European Investment Bank (EIB) under the PDA (Project Development Assistance) programme. The …