An independent technical review of Minesto's Dragon-class technology, initiated in autumn 2024, has now been successfully completed by DNV, a world leader in technology assessments and certifications in the energy & maritime sectors, including renewable energy solutions.
The review encompassed a comprehensive evaluation of the Dragon-class technology, including energy conversion performance, production volumes, and installation procedures.
DNV conducted a thorough review process that included examining detailed technical documentation, engaging in workshops with the Minesto development team, and conducting a site visit to the production facility in the Faroe Islands during offshore installation.
The review findings support Minesto's plan for a first 10MW array build-out in the Faroe Islands and the potential for achieving competitive levelized cost of energy (LCOE) levels, based on the low system weight and efficient installation and handling procedures.
Minesto is a marine energy technology company with the mission to minimize the global carbon footprint of the energy industry by enabling commercial power production from the ocean. Minesto's product is the only verified marine power plant that operates cost-effectively in areas with low-flow tidal streams and ocean currents.
DNV is a global independent expert organization providing assurance and risk management services. Founded in 1864, DNV operates in more than 100 countries.