Minesto raises SEK 22 million loan financing - securing continued flexibility in dynamic business context
18 juni, 07:00
Minesto raises SEK 22 million loan financing - securing continued flexibility in dynamic business context
Minesto AB (publ) (“Minesto” or “the Company”) has raised a loan financing of SEK 22 million, from Fenja Capital, intended to be used as working capital in the Company’s ongoing operations and business development to clarify immediate market opportunities.
The loan is considered to be raised on market terms and has a set-up fee of four (4) per cent of the total loan amount as well as a monthly interest rate of one (1) per cent. The loan shall be repaid in full at the latest on 30 December 2025.
At present, Minesto is approaching a range of business development milestones that upon accomplishment will influence capital needs to varying degrees. The rationale behind the loan is to reach more clarity on the type and scope of capital needs for the next phase of scale-up.
“We are in an incredibly interesting phase and continue to move towards key milestones in several of our ongoing business development activities including new partnerships, site development service offers, soft funding and advancements of first phase of the Hestfjord-project. This loan will enable us to push forward adding both value and clarity to funding needs for the next phase.” says Martin Edlund, CEO of Minesto.
For additional information please contact
Cecilia Sernhage, Chief Communications Officer
+46 (0)735 23 71 58
ir@minesto.com
The information in this press release is such that Minesto AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST on 18 June 2025
About Minesto
Minesto is a leading marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling plannable commercial power production from the ocean.
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.
With more than €45 million of awarded funding from the European Regional Development Fund through the Welsh European Funding Office, European Innovation Council and InnoEnergy, Minesto is the European Union’s largest investment in marine energy to date.
Minesto was founded in 2007 and has operations in Sweden, the Faroe Islands, Wales and Taiwan. The major shareholders in Minesto are BGA Invest and Corespring New Technology. The Minesto share (MINEST) is traded on Nasdaq First North Growth Market. Certified Adviser is G&W Fondkommission.
Read more about Minesto at www.minesto.com
Press images and other media material is available for download via minesto.com/media
Financial information including reports, prospectuses and company descriptions is available in Swedish at www.minesto.com/investor.
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Minesto raises SEK 22 million loan financing - securing continued flexibility in dynamic business context
18 juni, 07:00
Minesto raises SEK 22 million loan financing - securing continued flexibility in dynamic business context
Minesto AB (publ) (“Minesto” or “the Company”) has raised a loan financing of SEK 22 million, from Fenja Capital, intended to be used as working capital in the Company’s ongoing operations and business development to clarify immediate market opportunities.
The loan is considered to be raised on market terms and has a set-up fee of four (4) per cent of the total loan amount as well as a monthly interest rate of one (1) per cent. The loan shall be repaid in full at the latest on 30 December 2025.
At present, Minesto is approaching a range of business development milestones that upon accomplishment will influence capital needs to varying degrees. The rationale behind the loan is to reach more clarity on the type and scope of capital needs for the next phase of scale-up.
“We are in an incredibly interesting phase and continue to move towards key milestones in several of our ongoing business development activities including new partnerships, site development service offers, soft funding and advancements of first phase of the Hestfjord-project. This loan will enable us to push forward adding both value and clarity to funding needs for the next phase.” says Martin Edlund, CEO of Minesto.
For additional information please contact
Cecilia Sernhage, Chief Communications Officer
+46 (0)735 23 71 58
ir@minesto.com
The information in this press release is such that Minesto AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST on 18 June 2025
About Minesto
Minesto is a leading marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling plannable commercial power production from the ocean.
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.
With more than €45 million of awarded funding from the European Regional Development Fund through the Welsh European Funding Office, European Innovation Council and InnoEnergy, Minesto is the European Union’s largest investment in marine energy to date.
Minesto was founded in 2007 and has operations in Sweden, the Faroe Islands, Wales and Taiwan. The major shareholders in Minesto are BGA Invest and Corespring New Technology. The Minesto share (MINEST) is traded on Nasdaq First North Growth Market. Certified Adviser is G&W Fondkommission.
Read more about Minesto at www.minesto.com
Press images and other media material is available for download via minesto.com/media
Financial information including reports, prospectuses and company descriptions is available in Swedish at www.minesto.com/investor.
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