Minesto receives EU STEP status for Irish tidal energy project
The European Commission has awarded the STEP seal to Minesto's Euro Dragon Farm project, highlighting its strategic value to European energy security.
Ocean energy developer Minesto has been granted the Strategic Technologies for Europe Platform (STEP) seal by the European Commission for its proposed Euro Dragon Farm project in Ireland. This designation recognizes the project's contribution to Europe's broader goals of energy security, supply chain resilience, and industrial growth.
The acknowledgement coincides with Minesto’s progression toward finalizing a 20.2 million euro grant agreement via the EU Innovation Fund. The funding is intended to scale the company's tidal energy technology, which aims to provide predictable, renewable electricity to the grid.
Minesto CEO Martin Edlund participated in discussions regarding European industrial policy in Brussels today, focusing on the deployment of clean energy technology. The Euro Dragon Farm project remains central to the company’s efforts to transition its deep-water, sub-surface kite technology into a commercially viable scale within the Irish market.