Minesto receives EU STEP status for Irish tidal energy project
The European Commission has awarded Minesto the Strategic Technologies for Europe Platform (STEP) seal for its Euro Dragon tidal project in Ireland, boosting access to potential funding.
Swedish ocean energy developer Minesto has secured the STEP (Strategic Technologies for Europe Platform) seal from the European Commission for its proposed Euro Dragon project in Ireland. The designation is part of an EU initiative designed to foster European industrial competitiveness in strategic clean technology sectors.
The STEP certification serves as a formal recognition of the project’s alignment with EU energy security and innovation goals. By achieving this status, Minesto gains improved access to specific European funding mechanisms, which are essential for scaling capital-intensive marine energy infrastructure. The Euro Dragon project utilizes Minesto’s proprietary underwater kite technology designed to harvest energy from tidal currents.
The inclusion in the STEP framework marks a shift in how the European Commission evaluates emerging marine energy projects. As the company moves to prove the viability of its technology, this endorsement may assist in de-risking future project phases. Minesto must now leverage this regulatory backing to secure the necessary private and public capital required to advance from the development stage to deployment.