A renewable energy company focusing on generating electricity from tidal waves. I have been following Minesto start from IPO and owned shares. Minesto has taken great steps in designing an innovative technology within renewable energy generation.
How it works
- Minesto’s technology generates electricity from tidal streams and ocean currents by a unique and patented principle similar to a kite flying in the wind.
- The wing uses the hydrodynamic lift force created by the underwater current to move the kite. With an onboard control system, the kite is autonomously steered in a predetermined figure-of-eight trajectory, pulling the turbine through the water at a water flow several times higher than the actual stream speed.
- The turbine shaft turns the generator which outputs electricity to the grid via a power cable in the tether and a seabed umbilical to the shore.
As with most of all these good and new companies, it is capital intensive, before they start generating revenue and profits. I see they will need more capital – to expand, generate revenue and be profitable. And being a small time investor, I had to bow out (sold around 2021) for now. Currently its trading at good price,
but I keep my eyes open to buy back later.
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