Climate Change Data

Minesto AB (publ)

Climate Impact & Sustainability Data (2016, 2022)

Reporting Period: 2016

Environmental Metrics

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Climate Goals & Targets

Environmental Challenges

  • Potential impacts on seabirds (collision, disturbance, displacement, pollution, indirect effects) and marine mammals (noise, pollution, physical interactions, entanglement)
  • Potential impacts on Atlantic salmon (turbidity, contamination, noise, collision, barrier to movement, habitat exclusion)
Mitigation Strategies
  • Encounter Rate Modelling (ERM) and Collision Risk Modelling (CRM) to assess collision risk
  • Assessment of other potential impacts (noise, pollution, disturbance)
  • Consideration of cumulative and in-combination impacts
  • Apportionment of impacts to individual SPA and SAC populations

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Renewable Energy
  • Environmental Impact
  • Sustainable Development

Environmental Achievements

  • Increased production capacity at Vestmannasund facility by installing a second foundation, enabling two Dragon 4 power plants.
  • Dragon 4 (100 kW) achieved record levels of total electricity production, peak performance, and energy conversion.

Social Achievements

  • Participation in the Swedish business delegation to COP27, generating opportunities to share information about Minesto's technology.
  • Strategic partnerships formed in the Philippines and Indonesia to integrate Minesto's technology into renewable energy mixes.

Governance Achievements

  • Board decision to conduct a partly secured rights issue of shares (approximately 153.4 MSEK before deduction of transaction costs).

Climate Goals & Targets

Long-term Goals:
  • Become a producer of power plants with a wide range of services and expertise in marine energy.
Medium-term Goals:
  • Development of the Hestfjord project (approximately 30 MW).
Short-term Goals:
  • Installation of Dragon 12 (1.2 MW) power plant planned for spring 2023.

Environmental Challenges

  • Changes in the capital market and reduced capital availability for development companies.
Mitigation Strategies
  • Planned rights issue with approximately 80% in subscription guarantees and commitments to secure financial resources.

Supply Chain Management

Climate-Related Risks & Opportunities

UN Sustainable Development Goals

  • SDG 7 (Affordable and Clean Energy)
  • SDG 13 (Climate Action)

Minesto's technology contributes to these goals by providing clean, predictable renewable energy from ocean currents.

Sustainable Products & Innovation

  • Dragon Class power plants