Rahul Somvanshi
In the rapidly evolving landscape of renewable energy, Minesto, a trailblazing Swedish company, has unveiled its latest marvel: Minesto’s Dragon 12 sea-bed connection system. This avant-garde technology, designed to tap into the immense power of ocean currents and tidal streams, stands poised to redefine marine energy’s future. Minesto CEO, Dr. Martin expressed his enthusiasm, stating, “Our unique connection system epitomizes the essence of Minesto’s innovation – it’s swift, efficient, and remarkably user-friendly.” This sentiment, shared on 22 August, resonates with the company’s unwavering commitment to sustainable energy evolution.
The Dragon 12, a formidable 1.2MW power plant, is the embodiment of Minesto’s vision. Incorporating the Launch and Recovery System (LARS) technology, the Dragon 12 is not just another power plant; it’s a beacon of what’s possible in renewable energy. The ingenious connection system, which facilitates the LARS frame’s descent to the sea floor, boasts remote operation and control. This means that the entire apparatus can be orchestrated from a boat, rendering the need for divers or ROV support obsolete. The Dragon 12’s standout feature, however, is its “one-stab” operation. This pioneering attribute ensures one of marine energy’s swiftest launch and recovery processes. “The Dragon 12 connection system represents an advanced iteration of Minesto’s time-tested LARS technology, a principle we’ve championed since 2020,” Edlund elaborated.
The picturesque Faroe Islands, nestled in the North Atlantic, are set to be the inaugural beneficiaries of this groundbreaking technology. With an audacious goal to transition to 100% renewable energy sources by 2030, the Dragon 12’s introduction propels the islands closer to this vision. While solar and wind energy have their merits, Minesto posits that the predictability of tidal streams and ocean currents offers a more reliable energy alternative. The consistency of water flow, both in direction and rate, ensures a steady energy supply, a boon in the unpredictable world of renewables.
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Yet, pioneering paths often come with their set of challenges. Minesto’s half-year report for 2023 revealed an operating income of SEK 25 016 thousand, with a significant chunk, SEK 22 549 thousand, dedicated to capitalized development endeavors. The operating deficit, pegged at SEK –13 271 thousand, predominantly stems from business development and tech-related administrative costs.
Gustav Kvibling, the recently inducted CFO, weighed in, asserting, “Innovation demands investment. We’re not merely crafting a product; we’re sculpting the renewable energy landscape.” Beyond the numbers, Minesto’s journey is about transcending traditional energy paradigms. The Dragon 12, with its state-of-the-art connection mechanism, is a testament to Minesto’s audacious vision and unwavering commitment. As global spectators keenly observe, the Faroe Islands’ renewable energy aspirations could very well serve as a lodestar for nations worldwide. With industry leaders like Minesto at the helm, a sustainable, eco-friendly future is not just a distant dream but a tangible reality.
In wrapping up, Dr. Martin Edlund poignantly remarked, “This quarter, we’ve intensified our drive towards large-scale, project-centric tidal energy array sales. Our Dragon 4 installations, though smaller in scale, are instrumental for our long-term business trajectory.” The global community, with bated breath, eagerly anticipates the next wave of innovation from Minesto’s shores.
