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2016-09-05

Minesto AB: Minesto to attend Taiwan-Sweden Joint Business Council Meeting

Dr Martin Edlund, CEO of leading tidal energy developer Minesto, has
joined the Swedish Business Delegation that will attend the 32nd
Taiwan-Sweden Joint Business Council Meeting in Taipei on 26
September 2016. The delegation will be led by the State Secretary to
the Swedish Minister for EU Affairs and Trade.

The Taiwan-Sweden Joint Business Council meeting is an important
platform for business contacts and intergovernmental relations, to
explore business opportunities between Taiwan and Sweden. This year's
meeting will address the theme on Smart Cities & Living and one of
the focus areas is renewable energy. Taiwanese and Swedish government
officials, industry leaders and academia researchers will gather to
present and discuss state-of-the-art innovation and technology for
sustainable solutions.

Minesto's CEO Dr Martin Edlund will travel to Taiwan in late September
together with the Swedish Business Delegation led by Mr Oscar
Stenström, State Secretary to the Swedish Minister for EU Affairs and
Trade.

"This is a great opportunity to present Minesto and to build and
enhance business and public stakeholder relations in Taiwan", Dr
Edlund said and continued: "Taiwan is one of Minesto's primary
markets; its large areas of low-velocity tidal and ocean currents fit
our unique tidal energy technology Deep Green very well".

Deep Green is the only proven marine power plant that operates cost
efficiently in areas with low-velocity currents. According to the
National Taiwan Ocean University tidal and ocean currents have the
potential to account for about 50 percent of Taiwan's future energy
needs. Recently, ocean energy has received positive attention in
Taiwanese media as a longstanding domestic research project for power
generation from ocean currents has been reported in optimistic terms
(http://www.taipeitimes.com/News/front/archives/2016/08/29/2003654070).
The Taiwanese government have previously declared that ocean energy
will be a key area in the country's future energy mix, and President
Tsai Ing-wen has stated that Taiwan's nuclear power should be phased
out by 2025.

"Tidal technologies like ours create secure, domestic and sustainable
energy production. We have been in dialogues with industry
representatives in Taiwan regarding business collaborations and a
first demo installation of Deep Green for a few years now. Our
ambition is that the Joint Business Council Meeting will boost these
dialogues as well as create new options for our market entry in
Taiwan", Dr Edlund said.

For additional information please contact:

Dr Martin Edlund
CEO, Minesto AB
+46 31 29 00 60
press@minesto.com (press@minesto.com)

Magnus Matsson
Communications Manager, Minesto AB
+46 70 570 75 08
press@minesto.com

About Minesto

Minesto is a marine energy technology company whose mission is to
minimise the global carbon footprint of the energy industry by
enabling commercial power production from low velocity tidal and
ocean currents.

Minesto's award winning and patented product, Deep Green, is the only
proven marine power plant that operates cost efficiently in areas
with low velocity currents.

In May 2015, Minesto secured a €13m investment from the European
Regional Development Fund through the Welsh European Funding Office,
for the commercial rollout of Deep Green.

Minesto was founded in 2007 and has offices in Gothenburg, Sweden,
Holyhead, Wales and Portaferry, Northern Ireland. The major
shareholders in Minesto are BGA Invest and Midroc New Technology. G&W
Fondkommission is Minesto's Certified Advisor. Read more about
Minesto at www.minesto.com

Images of Minesto's management team and Deep Green are available to
download from Minesto's website (http://minesto.com/news/).

Follow Minesto on Twitter: @MinestoAB (https://twitter.com/MinestoAB).

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http://news.cision.com/minesto-ab/r/minesto-to-attend-taiwan-sweden-join...
http://mb.cision.com/Main/14621/2071407/557400.pdf

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