Deep Green – Incredible New Technology Transforms Ocean Currents to Electricity
Deep Green – powered by Minesto
For readers that have been following this blog since its inception, you might have realized by now that I\’m an aficionado when it comes to things that click; those things that really give a sense that there\’s something unique, fresh and (somewhat cringing to myself) cool. Swedish technology transforms the ocean\’s currents into green electricity. This story wooshed right above me, but since the roller-coaster, that is technology, loops itself around and hits you from all different directions, I should not feel shame that I\’ve missed this rather interesting story. Before I describe anything in words, it\’s perhaps best to show a short explanatory video from the company itself, precisely what it is that I\’m talking about.
By utilizing the energy in the ocean currents, Swedish Minesto has developed a predictable complement to solar and wind power. Now the company is launching a new share issue to develop product range and establish Minesto\’s technology in more markets.
\”The potential is enormous if slow ocean currents can be utilized and Minesto currently has the only technology that enables this,\” says Martin Edlund, CEO.
Minesto is a Swedish environmental technology company in marine energy with the mission to minimize global carbon dioxide output from the energy sector by enabling commercial electricity generation from the ocean. Minesto\’s award-winning and patented product, Deep Green, is the only verified marine power plant that can extract renewable energy from slow ocean and tidal currents in a cost-effective way.
Solar and wind power today are the renewable energies that have come the furthest in their development. At the same time, both of these techniques are severely restricted.
\”Sun and wind are very efficient and good energy sources, but the sun does not light at night and has very variable energy contributions depending on the season and where you are in the world. Wind has similar challenges, it is predictable over a year but from day to day you do not know how much it blows. This means that you have to store or transport the energy, which will be very expensive, \”says Minesto\’s CEO Martin Edlund.
Minesto\’s solution, Deep Green, originally comes from the aircraft manufacturer SAAB, and instead utilizes energy and predictable ocean and tidal currents. Minesto is certainly not the first to see the huge potential of the ocean currents, but according to Martin Edlund, they are the first to develop a technology that has seriously the potential to become commercially viable.
Deep Green can be resembled a dragon attached to the seabed and then \”flying\” into an eight-shaped path underneath the surface. Attached to the \”dragon\” is a turbine that rotates when it is pressed through the water, thus generating electricity. The unique thing about the technology is that the turbine, because it is not caught on the seabed, is subjected to a water flow faster than the actual ocean currents. This allows Deep Green to function in slower streams than other technologies, opening up a larger market.
According to Minesto\’s own calculations, their technology has a potential globally of more than 600 GW in installed power. This is comparable to the global nuclear power capacity, currently around 400 GW. Martin Edlund believes that Deep Green in the near future can be an attractive complement to unpredictable wind and solar energy for many coastal economies.
Minesto has developed Deep Green since 2007 and among the owners there are both BGA Invest and Midroc New Technology. However, in 2018, the company is entering a completely new stage and therefore carries out a new share issue of MSEK 103.5. By building facilities in both Wales and Taiwan, the plan is to show that Deep Green also operates on a commercial scale this year. According to Martin Edlund, the company\’s technology will be about as cost-effective as solar or offshore winds when the volumes are installed and have an installed capacity of around 1 GW.
\”It is the carrying store for Minesto, making large systems that fit into larger ocean-flow parks. That\’s what we are working to develop in Wales and it will be a great success when we can start generating electricity with these big devices this year. \”
Whatever is in store for the decade-long development, it is promising us something unique to the table and should be ready to be a solution to a number of very real problems that we are facing today. Whether or not it\’ll be adopted as predicted is a question that we, perhaps, should concern ourselves with but that is for the day that comes. It should be noted that this blog is oriented for a bright future, and not one that is dimmed down and for that reason we should only expect this dragon to cast a fireball, lighting up the murky depths of the oceans to the benefit of our energy needs.
Daniel Vice – evolvera: always changing, always evolving