Minesto AB's Strategic Advances in Tidal Energy Market Through Q3 2025

In an unprecedented move within the renewable energy sector, Minesto AB has set the stage for a notable progression in tidal energy through its interim management statement for the period ending on September 30, 2025. Under the leadership of CEO Dr. Martin Edlund, the company has outlined a robust action plan that is funded and strategically designed to drive its commercial breakthrough.

Significant Organizational Changes

Minesto implemented a significant organizational restructuring over the past year, culminating in a geographic relocation, a redefined management team, and a strengthened focus on product development. This transformation has effectively reduced fixed costs by approximately 35%, enhancing the company’s readiness to embark on commercial project deliveries, emphasizing both efficiency and effectiveness.

In August, the appointment of Alexander Jancke as the new CFO marked a pivotal moment in the company’s journey, as it aims to further propel its business development agenda. Together with partners Sev, Capture Energy, and IVL, Minesto successfully completed a planning workshop for the ambitious Microgrid Project, funded by the Swedish Energy Agency. This initiative is complemented by the integration of local tidal energy applications in the Faroe Islands, amplifying customer engagement.

Funding and Rights Issue Success

In September, Minesto's Board of Directors announced a substantial rights issue, aimed at securing approximately SEK 152.4 million, contingent upon subsequent approvals. The results were promising, with around 40.6% of the rights issue subscribed immediately, demonstrating investor confidence despite the challenging capital market conditions.

Global Endeavors

October was a pivotal month for Minesto as it showcased the tidal energy kite, Dragon 4 'Íðunn', during an open event in the North Atlantic. This event, attended by approximately 150 guests, marks a critical engagement opportunity between Minesto and prospective stakeholders. The company's involvement in high-level delegations to South Korea and Canada illustrated its determination to cultivate global partnerships in the energy domain, indicating South Korea’s promising market for tidal resources and Canada’s political backing for ocean energy.

The recognition of Minesto at events like InnoEnergy's The Business Booster in Lisbon signifies its status as a frontrunner in clean energy transition initiatives across Europe.

Performance Overview for Q1-Q3 2025

The financial summary for the period from January to September 2025 reflects total operating income of SEK 17,046 thousand, primarily driven by capitalized development work. Despite sustaining an operating loss of SEK 28,158 thousand, Minesto's focus on technological advancements highlights its long-term investment in sustainability. Moreover, the company reported substantial funding from public schemes amounting to SEK 4,416 thousand during this period.

With a closing cash position of SEK 26,422 thousand, Minesto stands well-positioned to navigate the pathways towards achieving its strategic objectives. The equity for the period amounted to SEK 554,230 thousand, divided into 205,911,488 shares, reflecting adaptation in response to market demands.

Future Directions and Opportunities

The upcoming months are expected to be crucial as Minesto leverages its rights issue funding to implement its comprehensive commercial strategy. Key activities focus on enhancing the firm’s commercial offerings and minimizing investment risks associated with tidal energy projects. Specifically, initiatives in Hestfjord, Faroe Islands, highlight the optimization of site development while fostering deeper collaboration with commercial partners.

Furthermore, with noteworthy interest from global project developers across various markets, Minesto aims to establish strategic partnerships to advance its goals. By continually evolving its sales and operational strategies, coupled with standout technological capabilities, Minesto endeavors to drill deeper into the vast potential of tidal energy as a solid contender for the future energy landscape.

Ultimately, Minesto's commitment to innovation and strategic outreach positions it as a leader in the transition towards sustainable energy. With the drive to facilitate large-scale commercial processes within the ocean renewable energy sector, Minesto is set to be at the forefront of industry evolution.