Latest news with #Dragon12
Yahoo
3 days ago
- Business
- Yahoo
Minesto's tidal power plant Dragon 12 in operation reaching key production performance milestone
GOTHENBURG, Sweden, June 12, 2025 /PRNewswire/ -- Minesto, leading ocean energy developer, today announces that its Dragon 12 tidal energy system (Luna), installed in Vestmannasund, Faroe Islands, has met a major production performance milestone: the longer tether enables a 25% increase of power performance. This strengthens the company's path toward commercial-scale deployment of its unique tidal kite technology. Following the recent upgrade and installation of the Dragon 12 (Luna) mid-May, Minesto concludes that the system has met performance expectations as simulations predict. Most significantly, based on a 10 meter longer tether, the power performance increase is around 25% relative earlier testing. This is expected from computer simulation predictions. These results further validate production volumes used in Minesto's business cases for commercial buildout in the Faroe Islands. "We are really pleased to have Dragon 12 in operation with increased performance in solid alignment with computer simulated predictions. This underscores the electricity production volumes used in our Dragon farm business cases and thereby reduce investor risks," said Dr Martin Edlund, CEO of Minesto. In addition to Dragon 12 showcasing technical performance, the production site in Vestmanna continues to serve as a live demonstration platform. Recent visits from utility partners, energy ministries, and potential commercial customers have further positioned the site as a central reference case in the global marine energy landscape. "With the generated Dragon 12 production data and solid build-out plans in place, we are eager to engage investors and partners in taking the next step towards the world's first Dragon Farm - an array of Minesto's unique power plants," said Dr Martin Edlund. For additional information please contactCecilia Sernhage, Chief Communications Officer +46 (0)735 23 71 58 ir@ The information in this press release is such that Minesto AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 11:17 CEST on 12 June 2025. This information was brought to you by Cision The following files are available for download: Press Release View original content: SOURCE Minesto AB Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Yahoo
14-02-2025
- Business
- Yahoo
Energy Department announces $18 million investment in unlikely power source — here's how it could help consumers
The U.S. Department of Energy (DOE) made waves in December 2024 by announcing an $18 million investment in marine energy research. The funding is earmarked for 27 R&D projects across 17 universities to help unlock the massive potential of ocean-based renewable energy. Marine energy — power harnessed from waves, tides, and underwater currents — is one of the most underused clean energy sources in the U.S. But for context, according to the DOE, marine energy resources in the U.S. are equal to about 57% of all the power generated in 2019. Even if we can capture a fraction of that, it could be a game-changer for clean energy. Jeff Marootian, the principal deputy assistant secretary for the DOE's Office of Energy Efficiency and Renewable Energy, said in the announcement: "The oceans hold incredible potential for renewable energy to power homes, businesses, and even offshore work such as marine research." How often do you worry about your energy bills? Every day A few times a week A few times a month Only when I pay it Click your choice to see results and speak your mind. In August 2024, the Marine Energy Technologies Acceleration Act was also introduced into Congress. If that bill goes through, we could see even more funding for research and the development of new technology for harnessing marine energy. Investing in marine energy could benefit consumers immensely. As these kinds of tech advance and become more common, they could drive down energy costs and provide more reliable renewable energy, especially for coastal communities. They also reduce our dependence on dirty energy from fossil fuels, which contribute to planet-warming gases and air pollution. Plus, water-based energy sources are predictable (unlike wind and solar, which depend on the weather), and they could help stabilize the energy grid. We've seen the power of renewable marine energy in similar projects, such as a new grid-scale wave energy device off the coast of Hawai'i. Research to advance the tech used for harnessing marine energy is ongoing, with new tools in development, such as the impressive Dragon 12 underwater kite. The DOE has listed more information about the projects receiving funding on its website. "These projects harness the creativity of researchers at universities across the country to spur innovation in marine and ocean renewable energy," Marootian said in the announcement. After the announcement, Congresswoman Debbie Dingell shouted out the University of Michigan, one of the institutions selected for funding. "These projects will improve marine energy technology and make data more accessible to the public, bringing us one step closer to making marine energy a reliable, cost-effective power," Dingell said. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
