Minesto Inks Letter of Intent with Green Elements

Minesto has signed a Letter of Intent with Green Elements, a Chilean company that will develop a commercial plan for Minesto in the South Pacific region of South America.

The purpose for 2014 and 2015 is to identify possible sites for electricity production and develop commercially viable projects together with Minesto focusing on private and public companies that are searching for marine renewable energy solutions, like Deep Green.

“We are very excited about this new partnership with Minesto as we believe the Deep Green technology will change the way people view the ocean’s potential to deliver electricity. A unique advantage of Deep Green is a short gap between R&D projects and actual commercially viable projects as ours. This has a great attention in our first approaches with private and public companies,” said Sergio Valenzuela, Partner and Director of Green Elements.

This arrangement is part of a long-term project development that Green Elements and Minesto have in the region.