Minesto has signed a collaboration agreement with Hydrokite Project Development to enter the Australian and New Zealand markets.
The new partner is established fit-for-purpose to exclusively bring Minesto’s technology to these new markets.
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.
Dr Martin Edlund, chief executive of Minesto, said: “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.”
Manuel Sessink is the founder and chief executive of Hydrokite Project Development, added: “I look forward to our partnership and to bring Minesto’s unique tidal power generating technology to Australia and New Zealand.”