Ocean energy developer Minesto has signed a collaboration agreement with Australian tidal energy firm Hydrokite Project Development to exclusively bring Minesto’s technology to Australia and New Zealand.
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Tasmania is the initial focus area for the ocean energy developer, with further potential development sites in the Northern Territory, Western Australia and New Zealand also under consideration.
“This is a logic follow-through of our strategy to establish markets through partnerships and acknowledging the need for local connections and know-how. It also aligns well with our strategy to be a tech provider with services, while engaging in site development through partnerships, to limit financial exposure and benefit from existing local relationships,” Minesto CEO Dr Martin Edlund said.
“I look forward to our partnership and to bring Minesto’s unique tidal power generating technology to Australia and New Zealand,” Hydrokite CEO Manuel Sessink said.
Minesto’s award winning and patented product is the only verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents.
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Minesto’s ocean energy technology is currently deployed in the Faroe Islands, Holyhead Deep and Taiwan.
