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Why is MINEST down 10.20%?
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MINEST:STO
Minesto AB
SEK 1.55
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-10.20%(-0.18) 1D
Oct 20, 10:25:23 AM GMT+2 · SEK
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| Symbol | Price | Change | % Change |
|---|
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Open
SEK 1.78
High
SEK 1.88
Low
SEK 1.45
Mkt. cap
399.01M
Avg. vol.
684.78K
Volume
3.61M
52-wk high
SEK 2.40
52-wk low
SEK 0.50
EPS
-SEK 0.12
Shares outstanding
260.11M
No. of employees
31
Open
SEK 1.78
High
SEK 1.88
Low
SEK 1.45
Mkt. cap
399.01M
Avg. vol.
684.78K
Volume
3.61M
52-wk high
SEK 2.40
52-wk low
SEK 0.50
EPS
-SEK 0.12
Shares outstanding
260.11M
No. of employees
31
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Profile
Minesto AB is a Swedish developer of electricity producing tidal kite turbines, based in Gothenburg. As of 2025 the company is focused on developing projects in the Faroe Islands. They also had a manufacturing base in Holyhead, North Wales, although this closed in 2025, and a test facility at Portaferry, Northern Ireland.
The company has tested devices and developed plans to install arrays off the coast of Anglesey, North Wales and in the Faroe Islands. They are also collaborating with National Taiwan Ocean University and TCC Green Energy, a subsidiary of Taiwan Cement, to develop projects in Taiwan.
Minesto was formed in 2007 from the wind department of the Swedish aerospace and defense company Saab Group.
The Minesto devices somewhat resembles a plane, with a wing and control surfaces to steer the device through the water in a figure-of-eight shape. It is tethered to the seabed by a cable that also carries power and communication signals. By "flying" through the water using hydrodynamic lift, the device can travel several time faster than the current speed, allowing it to be used in areas of lower tidal currents than conventional turbines. Wikipedia
About Minesto AB