Minesto Strengthens Its Management Team

Minesto, the developer of the Deep Green marine energy power plant, has named Fredrik Ahlström as Chief Financial Officer, succeeding Charlotta Ekman who will take up the position as Chief Operating Officer.

Ahlström joins Minesto as new CFO from Sibelco Nordic, a provider of industrial minerals, where he acted as CFO and was leading the financial operations of an international group encompassing mining quarries, production, logistics and global sales of industrial minerals.

“Minesto offers an innovative technology in an industry with growing importance and global reach,” Ahlström said. “To be part of and contribute to how this completely new approach to renewable energy is developed, implemented and becomes cost effective, feels extremely inspiring. I am very proud to become a member of this dynamic and entrepreneurial team.”

Charlotta Ekman, Minesto’s new COO, has been CFO at Minesto since 2008. She has several years of experience from leading positions at high-tech ventures in the area of renewables.

“I am very enthusiastic about continuing my work at Minesto in my new role as COO,” Ekman said.

Minesto was recently awarded a €13m investment from the European Regional Development Fund through the Welsh Government for the commercial rollout of Deep Green in Holyhead Wales. The funding is part of the commercial roll out, including the establishment of Minesto UK Headquarters in North Wales and commissioning of the first commercial Deep Green power plant.

Minesto will install the first commercial scale 0.5MW power plant in Holyhead Deep and continue with additional deployments in what will eventually be an array with a total capacity of 10MW, expected to be operational in 2019. The 10MW array will supply electricity to the equivalent of 8,000 households and create significant employment opportunities in both the construction and operational phases.

A quarter scale prototype of Deep Green is currently producing electricity in the waters off Strangford Lough, Northern Ireland. Deep Green is the only known marine power plant designed to produce electricity from low velocity tidal and ocean currents, and as such significantly expands the global marine energy potential.