About Minesto
Minesto is a company based in Goteborg (Sweden) founded in 2007. Minesto has raised $2.5 million across 21 funding rounds from investors including EIT InnoEnergy, European Commission and European Union. Minesto offers products and services including Kite Systems, Site Development Services, and Operations and Maintenance. Minesto operates in a competitive market with competitors including Verdant Power, Tocardo, Nova Innovation, Marine Current Turbines and EEL Energy, among others.
- Headquarter Goteborg, Sweden
- Stage Public
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Sectors
Energy & Utilities
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Email
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Phone
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Website
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Social
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- Legal Name Minesto Ab
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Annual Revenue
$6.8 K (USD)-80.8as on Dec 31, 2024
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Net Profit
-$3.27 M (USD)-33.11as on Dec 31, 2024
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EBITDA
-$4.02 M (USD)-38.02as on Dec 31, 2024
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Total Equity Funding
$2.5 M (USD)
in 21 rounds
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Latest Funding Round
$264.88 K (USD), Grant
Feb 07, 2024
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Investors
EIT InnoEnergy
& 9 more
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Employee Count
Not available
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IPO & Listings of Minesto
Minesto is a publicly listed company on the OMXSTO with ticker symbol MINEST in Sweden, operating in the Utilities sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Minesto
Minesto offers a comprehensive portfolio of products and services, including Kite Systems, Site Development Services, and Operations and Maintenance.
Subsea kites that generate electricity from tidal streams efficiently.
Services for planning and developing ocean energy sites worldwide.
Ongoing support for maintaining renewable energy installations.
People of Minesto
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Funding Insights of Minesto
Minesto has successfully raised a total of $2.5M across 21 strategic funding rounds. The most recent funding activity was a Grant round of $264.88 thousand completed in February 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Minesto
Minesto has secured backing from 10 investors, including institutional and venture fund investors. Prominent investors backing the company include EIT InnoEnergy, European Commission and European Union.
| Investor | Description | Founded Year | Domain | Location |
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Government agency and accelerator focusing on innovative startups and SMEs
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An investment company focused on regional entrepreneurs and businesses is operated.
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Dunross is recognized as a global investment firm.
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Investor details for Minesto
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Investments & Acquisitions by Minesto
Investment portfolio details for Minesto
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Financial Statements - Minesto
Detailed financials for Minesto
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Minesto Comparisons
Peer comparison for Minesto
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Competitors of Minesto
Minesto operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Verdant Power, Tocardo, Nova Innovation, Marine Current Turbines and EEL Energy, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Tidal turbines are developed and manufactured for hydropower projects.
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Manufacturer of tidal turbines
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Submerged turbine systems are provided for tidal energy conversion projects.
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Tidal power generators are developed for marine electricity production.
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Tidal currents are harnessed by the EEL Tidal Energy Converter.
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Detailed competitors of Minesto
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Latest news on Minesto
Complete news archive for Minesto
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Frequently Asked Questions about Minesto
Minesto was founded in 2007 and raised its 1st funding round 3 years after it was founded.
Minesto is headquartered in Goteborg, Sweden. It is registered at Goteborg, Vastra Gotaland, Sweden.
Minesto is a funded company, having raised a total of $2.5M across 21 funding rounds to date.
Annual revenue of Minesto is $6.8K as on Dec 31, 2024.
Minesto was founded in 2007 in Gothenburg, Sweden, and operates in the renewable energy sector focused on tidal power. Underwater kite structures are provided, each integrated with a horizontal axis turbine, generator, rudder, and control system to extract energy from low-velocity ocean and tidal currents. Deep green tidal power plants are developed for deployment in marine environments, enabling efficient energy generation from natural water flows.
Minesto's top competitors include Verdant Power, Nova Innovation and Tocardo.
Minesto offers Kite Systems, Site Development Services, and Operations and Maintenance.
Yes, Minesto is publicly traded on OMXSTO under the ticker symbol MINEST.
Minesto has 10 investors. Key investors include EIT InnoEnergy, European Commission, European Union, Welsh Government, and Swedish Energy Agency.
The ticker symbol of Minesto is MINEST on OMXSTO.