European sustainable energy accelerator InnoEnergy has invested a further €1m in Swedish tidal power technology developer Minesto.
The European Institute of Innovation and Technology-backed company has invested a total €5.5m in Minesto and its development of Deep Green tidal kites since 2015.
InnoEnergy chief executive Diego Pavia said: “We have great confidence in the technology, the company, the performance shown so far and Minesto’s plan for taking the product to the market.”
Minesto chief executive Martin Edlund added: “This investment is a clear sign of confidence from InnoEnergy in the capabilities of our organisation and in the potential our disruptive clean energy technology.”
Source:renews
