Minesto wins Horizon 2020 funds
Tidal developer bags €5.1m for PowerKite project
Swedish tidal developer Minesto has secured €5.1m funding from the EU’s Horizon 2020 R&D programme to develop its tidal kite technology.
Together with eight partners Minesto will improve its Deep Green technology’s robustness and performance.
For the project named PowerKite, Minesto will team up with Belgian utility Laborelec, a subsidiary of Engie, Chalmers University of Technology, Midroc Project Management, SSPA Sweden, UW-Elast, Moorlink Solutions, Applied Computing & Engineering Limited and Queens University Belfast.
The project will run for 30 months, and the consortium will cover the science areas that are necessary to improve product performance, and ensure environmental standards as well as the requirements of customers.
”Succeeding in establishing development projects with leading players in Europe like this, is a proof of the interest in our product and our ability to establish large projects”, said Minesto chief executive Anders Jansson.
”Being able to take part in this effort on marine energy, by the EU, is of course highly pleasing, motivating and extremely important.”
Engie Lab project manager Ana Novak added: “We have been involved in the marine energy sector for a number of years and we are delighted to be part of the PowerKite project.
"The Deep Green technology is focusing on proving cost-efficient use of low velocity tidal streams which could be beneficial for the tidal sector as a whole.”
Minesto has received investments of circa €37m in 2015.
Image: Deep Green tidal kite (Minesto)