Minesto to patent Deep Green installation and O&M ops
- Business & Finance
Minesto is working on adding installation and operations and maintenance (O&M) of Deep Green systems to its patent portfolio, which will enable the company to create licensing deals for Deep Green offshore operations and thus boost the earnings potential for each sold device.
Recently, Minesto filed its first patent for offshore operations related to the Deep Green technology and plans to widen the patent portfolio to include the scope of installation and O&M.
“The uniqueness of our technology makes it possible for us to build intellectual property and protect concepts related to installation and operations and maintenance (O&M)”, said Martin Edlund, CEO of Minesto.
With installation and O&M making up for as much as half of an array of Minesto devices’ cost of energy, building intellectual property assets in this area is strategically important in the long term, according to the company.
“This is an integral part of our business model and by licensing O&M concepts, we enable continuous revenue streams from sold and installed Deep Green systems”, Edlund said.
The existing patent portfolio of the Swedish marine energy developer consists of ten patent families covering the fundamental principle of the Deep Green technology and its key subsystems.