Minesto CEO Addresses Shareholders as Tidal Energy Developer Eyes Commercial Expansion

Swedish marine energy developer Minesto AB convened its Annual General Meeting on 23 June 2026 in Gothenburg, with CEO Dr Martin Edlund delivering the keynote address to shareholders. A recording of the speech has been made available on the company's official YouTube channel, according to a PR Newswire release. Minesto, which has developed a proprietary 'Deep Green' underwater kite technology designed to harvest energy from low-velocity tidal streams and ocean currents, has been positioning itself as a key player in the emerging marine renewable energy sector. The AGM address represents a significant opportunity for the company to communicate progress on its commercial deployment ambitions to investors and industry stakeholders. The Deep Green technology distinguishes itself from conventional tidal turbines by using a wing-mounted turbine that moves in a figure-of-eight pattern through the water, amplifying the speed of water passing through the turbine and enabling power generation in tidal flows that would otherwise be considered too slow for conventional devices. This capability opens up a substantially larger addressable market across global coastal and island communities. Minesto has previously conducted commercial-scale operations in the Faroe Islands, where its technology has been grid-connected, marking a milestone for the marine energy sector. The company has also attracted interest from markets including Wales, where tidal resources have long been identified as a significant untapped renewable energy source. The maritime and offshore energy industries are watching the tidal energy sector closely as governments seek to diversify their renewable energy portfolios beyond wind and solar. Marine energy, while still at a relatively early commercial stage compared to offshore wind, offers the advantage of high predictability due to the regularity of tidal cycles. Details of the specific content of Dr Edlund's AGM address were not disclosed in the announcement, but shareholders and industry observers can access the full recording via Minesto's YouTube channel. The AGM represents a routine but important governance milestone for the Gothenburg-headquartered company as it continues to scale its operations.