Minesto attracts muilt-million investment

“KIC InnoEnergy have decided to invest in the Deep Green technology developed by Minesto as it strongly complies with our vision to make Europe sustainable. Minesto has proven the technology and has a capable team to commercialise this step change product. We see Deep Green as one of the few marine energy converters that can be cost competitive in the short term. For us, it is a strategic investment and we look forward to promote and support the company Minesto to become a leading actor within the marine energy sector,“ said Mikel Lasa, CEO of KIC InnoEnergy Iberia.

Minesto’s tidal power plant, called Deep Green, resembles an underwater kite and is based on an innovative new approach for generating electricity from tidal and ocean currents. Deep Green is the only proven marine power plant that can  generate electricity from low velocity tidal currents, which greatly increases the available resource for marine energy. Deep Green has been producing electricity in the waters off Northern Ireland for more than two years now. This has been hailed as a major breakthrough for the entire renewable energy industry.

KIC InnoEnergy is a European company dedicated to promoting innovation, entrepreneurship and education in the sustainable energy field by bringing together academics, businesses and research institutes. Their goal is to make a positive impact on sustainable energy in Europe.