Minesto AB (publ) (MINEST) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi and welcome to Minesto's second quarter report 2025. With us to present we have CEO Martin Edlund. If you have any questions for the company you can use the form to your right. And with that I give the word to you Martin. Thank you very much. Hi everyone. I'm going to spend some time here to give you a brief run through of where we are as a company minister with today's half year report public since a few minutes ago. And first, I'd like to say a few words on testing and our Megawatt machine, the product that is targeted to drive sales and build out. And for the second quarter this year, we had it back in the water for its second production run, and it is still running in a very positive way for us as a company. We have made configuration changes foremost to extend the length of the tether that attaches it to the seabed and as predicted we get a 25% increase in production by utilizing this. The test site we have is originally targeting smaller units But with historic path dependencies with Brexit and the evolution of things in Wales, we moved to this test site, decided to do that several years ago when we planned the launch of this Dragon 12. So it means it's installed in this site with a little bit shallower water than what it's optimized for. But we've been able to, despite that, to get closer to the right length of the tether and it is very very comfortable to see that this longer tether gives us the performance that we expect. For the first commercial site in Hästfjord around the corner literally from where we are there will be yet a further extension of the tether for that installation. So this is very important and very good news for us. It's easy to say that it's by far the best and most robust system that we've ever built. And we're in the fourth month of ...