Swedish marine energy technology company Minesto has signed a Memorandum of Understanding (MoU) with Florida Atlantic University to examine the technical, environmental and economic feasibility of installing demonstration and commercial power plants in the Florida current.

Florida Atlantic University (FAU) is home to the Southeast National Marine Renewable Energy Center (SNMREC), a federally-designated US research and testing center with the mission to help accelerate the commercial realization of marine renewable energy recovery, with a preliminary focus on the Gulf Stream. By executing this MoU, Minesto and FAU aim to develop a partnership with cooperative mutual research, testing, and educational activities.

“We’re very excited about this new partnership with Minesto," said Susan Skemp, Executive Director of SNMREC, "We’re looking forward to assisting with Deep Green technology development and Minesto’s ocean current project ambitions around the world. This arrangement is a good example of a strategic partnership that leverages the strengths of industry and our Centre’s capabilities to collectively achieve commercially-viable marine energy."

Minesto´s tidal and ocean current power plant called Deep Green looks like an underwater kite and is based on a fundamentally new principle for electricity generation from tidal and ocean currents. Deep Green recently became the first known marine power plant to generate electricity from low velocity currents, which is seen as a breakthrough for marine energy, Minesto said.

"SNMREC is preparing unique testing facilities located in the Florida Current, where Minesto has assessed the ocean current resource to be favourable for Deep Green", said Anders Jansson, CEO of Minesto. "SNMREC are experienced in resource modelling, marine measurements, environmental assessments and regulatory framework helping Minesto to accelerate potential development in the US."