Minesto investors inject £3.1m
Shareholders take up stock warrants in Swedish tidal player
Swedish tidal developer Minesto’s largest shareholders have invested a further Skr34m (£3.1m) after exercising their stock warrants.
BGA Invest and Midroc New Technology took advantage of all their warrants in connection with Minesto’s IPO in November 2015.
In total, Minesto could receive around Skr82m should all warrants be exercised.
“As active owners, BGA Invest and Midroc New Technology have played a crucial role in Minesto’s development over the years,” said Minesto chief executive Martin Edlund.
“This commitment reaffirms their belief in the unique Deep Green technology, and underlines their commitment to build a better world through innovative and commercially attractive technology.”
Image: Deep Green tidal kite (Minesto)