Minesto expands the market activities in Australia and New Zealand by signing local business partner Hydrokite Project Development to spearhead market entry activities in the region. Adding to the potential project portfolio, the Australian island state of Tasmania is the initial focus, with further potential development sites in the Northern Territory, Western Australia and New Zealand also under consideration.

"This is a logic follow-through of our strategy to establish markets through partnerships and acknowledging the need for local connections and know-how. It also aligns well with our strategy to be a tech provider with services, while engaging in site development through partnerships, to limit financial exposure and benefit from existing local relationships," said Dr Martin Edlund, CEO of Minesto.

Manuel Sessink is the founder and CEO of Hydrokite Project Development and brings over 25 years of extensive experience in the offshore energy industry. Over the past decades, Manuel has held senior executive leadership positions with major players in the energy industry, including BHP, Santos, and INPEX.

"I look forward to our partnership and to bring Minesto's unique tidal power generating technology to Australia and New Zealand", says Manuel Sessink.