About Minesto
Minesto is a publicly listed company based in Goteborg (Sweden) founded in 2007. It operates as a tidal energy is harnessed through an underwater kite with turbine. 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. Its focus areas include Energy Tech, Renewable Energy Tech, Marine Energy and Tidal. Its legal entity is MINESTO UK LIMITED. Its competitors include Verdant Power, Tocardo, Nova Innovation, Marine Current Turbines and EEL Energy and 4 more; 6 of its 9 listed competitors have raised funding.
Company details
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.
- Headquarters Goteborg, Sweden
- Stage Public
- SectorsEnergy & Utilities
- Email••••••••
- Website minesto.com
- Social LinkedIn X Instagram YouTube
- Legal Name Minesto Ab
- Net Profit-$3.98 M (USD)-1.47as on Dec 31, 2025
- EBITDA-$4.18 M (USD)13.24as on Dec 31, 2025
- Total Equity Funding$2.5M (USD)
in 21 rounds
- Latest Funding Round$264.88K (USD), Grant
Feb 2024
- InvestorsEIT InnoEnergy
& 9 more
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.
Apps and channels of Minesto
its YouTube channel Minesto has 2.03K subscribers and 30 videos.
Videos from Minesto
The most watched videos on Minesto's YouTube channel, Minesto (2.03K subscribers). Click a video to play it here.
More on Minesto.
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.
- Total Funding $2.5M
- Total Rounds 21
- Last Round Grant — $264,877
- First Round $2.5M
(May 2010)
- Investors Count 10
Latest 10 of 21 funding rounds of Minesto with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2024 | $264,877 | Grant | – | – | |
| Sep 2021 | $670,094 | Grant | – | – | |
| Jul 2021 | $59,382 | Grant | – | – | |
| May 2021 | $19.14M | Post-IPO | – | – | – |
| Aug 2019 | $2.77M | Grant | – | – | |
| Jun 2019 | $1.32M | Grant | – | – | |
| Jun 2019 | $2.83M | Grant | – | – | – |
| May 2019 | $16.59M | Grant | – | – | |
| Dec 2018 | $1.14M | Grant | – | – | |
| Aug 2018 | $58,318 | Grant | – | – |
10 investors in total: 10 institutional.
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 |
|---|---|---|---|---|
Government agency and accelerator focusing on innovative startups and SMEs | – | eicfund.eu | Brussels, Belgium | |
An investment company focused on regional entrepreneurs and businesses is operated. | – | bgainvest.se | Sweden | |
Dunross is recognized as a global investment firm. | – | dunross.cy | Paphos, Cyprus | |
The Swedish Energy Agency was established in 1998 in Eskilstuna. | 1998 | energimyndigheten.se | Eskilstuna, Sweden | |
Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability | 1958 | europa.eu | Brussels, Belgium | |
Government services for Wales are delivered through public administration. | 1999 | gov.wales | Cardiff, United Kingdom | |
Innovation engine in sustainable energy | 2010 | innoenergy.com | Eindhoven, Netherlands | |
Institution of the European Union responsible for upholding the EU treaties | 1958 | ec.europa.eu | Brussels, Belgium | |
Saab is engaged in providing defense and security solutions globally. | 1937 | saabgroup.com | Linköping, Sweden | |
- | – | midroc.se | - |
Investor details for Minesto
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Minesto
9 people are tracked at Minesto (4 in leadership, 5 in board & advisors).
| Name | Role | Group |
|---|---|---|
Bernt Erik Westre | CTO | Leadership |
David Collier | COO | Leadership |
Martin Edlund | CEO | Leadership |
Fredrik Ahlström | CFO | Leadership |
Göran Linder | Board Member | Board & advisors |
Andreas Gunnarsson | Board Member | Board & advisors |
Jonas Millqvist | Chairman | Board & advisors |
Bengt Adolfsson | Board Member | Board & advisors |
Git Sturesjö | Board Member | Board & advisors |
Complete people profiles for Minesto
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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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.
- IPO date11 Dec 2015
- Listed onFRA: 7MN
- Listed entityMinesto AB
- Exchange sectorUtilities
- ISINSE0007578141
- Share price1.02 SEK (-1.73% on the day) · 2026-10-14
- Market capitalisation271,036,304.00 SEK
- EPS (diluted, trailing year)-0.13 SEK
- Volume (last session)42,418
Financials of Minesto
| Year | Revenue | Net income | EBITDA |
|---|---|---|---|
| 2025 | – | -36.6M SEK | -38.5M SEK |
| 2024 | 75,000 SEK | -36.1M SEK | -44.4M SEK |
| 2023 | 390,560 SEK | -27.1M SEK | -32.2M SEK |
| 2022 | – | -84.4M SEK | -26.4M SEK |
| 2021 | – | -14.9M SEK | -23.1M SEK |
Detailed financial statements for Minesto
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Minesto
4 dated milestones of Minesto across 17 years, from founding to its latest funding, stage changes and deals.
- Founded Minesto is founded.
- Funding First funding round of $2.5M.
- IPO Lists on the stock exchange (IPO).
- Funding Latest funding round, Grant, of $265K.
Competitors of Minesto
Minesto has 9 listed competitors in our database, 6 of them funded. They include Verdant Power, Tocardo, Nova Innovation, Marine Current Turbines and EEL Energy, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| verdantpower.com | 2000 | New York, United States | $6.75M | 10 | Tidal turbines are developed and manufactured for hydropower projects. | |
| tocardo.com | 2008 | Den Oever, Netherlands | – | – | Manufacturer of tidal turbines | |
| novainnovation.com | 2010 | Edinburgh, United Kingdom | $3.72M | 36 | Submerged turbine systems are provided for tidal energy conversion projects. | |
| marineturbines.com | 1999 | Bristol, United Kingdom | – | – | Tidal power generators are developed for marine electricity production. | |
| eel-energy.fr | 2011 | Paris, France | $3.88M | – | Tidal currents are harnessed by the EEL Tidal Energy Converter. | |
| sustainablemarine.com | 2012 | East Cowes, United Kingdom | $11.34M | 15 | Manufactures tidal energy turbines for sustainable marine power generation. | |
| sabella.bzh | 2008 | Quimper, France | $8.47M | – | Submerged tidal turbines for marine energy are developed and deployed. | |
| orbitalmarine.com | 2002 | Kirkwall, Scotland | $11.42M | – | Tidal turbine systems are developed for renewable energy generation. | |
| bluewater.com | 1978 | Amsterdam, Netherlands | – | – | Bluewater Energy Services is engaged in offshore energy solutions. |
Detailed competitors of Minesto
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Web traffic of Minesto
The website of Minesto (minesto.com) receives about 5.2K visits a month.
- Monthly visits5.2K
▼ 27.6% vs previous month
Websites whose visitors overlap most with Minesto. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
ambitionnorth.wales | ambitionnorth.wales | 100% | – | #4,418,454 | – |
Top companies in Renewable Energy Platforms
10 companies that operate in the same segment as Minesto (Renewable Energy Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Silicon-based solar PV modules are manufactured for diverse applications. | 1985 | San Jose, California, United States | USD 171.73 M | USD 300 M | 600 | |
Manufacturer of smart solar inverters | 2006 | Herzliya, Central District, Israel | USD 96.8 M | USD 1.18 B | 5,630 | |
Solar panel tracking software is provided for monitoring and control. | 2013 | Fremont, California, United States | USD 42.63 M | USD 3.56 B | 1,300 | |
Provider of climate-smart deeptech solutions for renewable energy and sustainable agriculture | 2010 | Pune, Maharashtra, India | USD 76.38 M | USD 56.11 M | 702 | |
Iron-air energy storage systems are developed for renewable energy projects. | 2009 | Somerville, Massachusetts, United States | USD 2 B | – | 902 | |
Full-end solar services are provided to residential and commercial sectors. | 2009 | Charleston, South Carolina, United States | USD 670.36 M | – | 749 | |
Micro-inverters and energy storage systems are manufactured for solar applications. | 2006 | Fremont, California, United States | USD 100.07 M | USD 1.47 B | 2,780 | |
Producer and supplier of green hydrogen | 2017 | Nantes, Pays De La Loire, France | USD 96.93 M | USD 11.48 M | 199 | |
Online platform for funding solar projects | 2015 | New York, New York, United States | USD 503.95 M | – | 30 | |
Provider of hydrogen production and storage solutions | 1927 | Oslo, Oslo, Norway | – | USD 95.55 M | 409 |
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Related news about 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. The company's 1st funding round was a Grant of $58.32K, raised on May 2010.
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.
Minesto operates through Minesto Uk Limited.