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Minesto, Florida Atlantic University sign MOU for ocean power initiative

Swedish marine energy technology company Minesto is teaming with Florida Atlantic University in the US to assess the feasibility of installing demonstration and commercial plants off the Florida coast.

Minesto, Florida Atlantic University sign MOU for ocean power initiative

Minesto, is the developer of Deep Green, an “underwater kite” designed to harness electricity from low velocity currents.


Florida Atlantic University (FAU) is home to the Southeast National Marine Renewable Energy Center (SNMREC), a federally-designated US research and testing center with the mission to help accelerate the commercial realization of marine renewable energy recovery, with a preliminary focus on the Gulf Stream.


“It is truly exciting that we now will have the opportunity to explore the potential for Deep Green in the low velocity ocean current in the US,” said Anders Jansson, CEO of Minesto.


The ocean current market is huge and unexplored; according to the US Department of Energy the Gulf Stream can supply nearly 30 percent of the power consumption in North Carolina, South Carolina, Georgia and Florida, which is up to 163TWh electricity. In monetary value that’s equivalent to $15 billion per year in sales of electricity.


“We’re very excited about this new partnership with Minesto,” said Susan Skemp, Executive Director of SNMREC, “We’re looking forward to assisting with Deep Green technology development and Minesto’s ocean current project ambitions around the world. This arrangement is a good example of a strategic partnership that leverages the strengths of industry and our Centre’s capabilities to collectively achieve commercially-viable marine energy.”


With the signing of the memorandum of understanding SNMREC is preparing testing facilities located in the Florida Current, where Minesto has assessed the ocean current resource to be favourable for Deep Green.


“SNMREC are experienced in resource modelling, marine measurements, environmental assessments and regulatory framework helping Minesto to accelerate potential development in the US,” Jansson said.

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