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Minesto has signed a partnership agreement with Haf-Afl to enter the Icelandic market for tidal energy. This collaboration aims to identify sites and conduct feasibility studies for investable projects that will integrate tidal energy into Iceland’s energy mix.

Minesto's technology is designed for low-flow tidal streams and ocean currents, making it suitable for Iceland's vast tidal resources. The partnership is expected to facilitate hands-on site development, leveraging Haf-Afl's extensive mapping of the tidal energy resource. The initiative responds to the need for a diverse energy supply in Iceland, particularly in remote areas where production costs are high.