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Minesto AB: Interim Management Statement 1 January – 31 March 2025

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GOTHENBURG, Sweden, April 30, 2025 /PRNewswire/ —

CEO Dr Martin Edlund: ‘Record public exposure and solid progress’

Significant events January-March 2025

In February, Minesto welcomes Faroese stakeholders, authorities as well as the public to a seminar at the Nordic House in Torshavn. CEO Martin Edlund presented the company’s vision for a sustainable energy system in the Faroe Islands, a 200MW buildout roadmap. There was a strong stakeholder engagement towards Minesto’s first tidal energy Dragon farm in Hestfjord, Faroe Islands.

An independent technical review of Minesto´s Dragon-class technology initiated in autumn 2024 is completed by DNV – a world leader in technology assessments and certifications in the energy & maritime sectors, incl. renewable energy solutions. The successfully completed review strengthens Minesto’s buildout investment case.

Minesto is selected to participate in GIA (Global Innovation Accelerator). The Global Innovations Accelerator Programme is initiated and funded by the Swedish Energy Agency, and run together with partner Business Sweden. Minesto’s focus will be on strengthening business development in Asia.

Minesto is selected by renowned bearing manufacturer SKF to be part of a large-scale international marketing brand campaign. The campaign ‘The Faroe Islands Space Program – a space program that never leaves earth’ highlights Minesto’s innovative and lightweight yet powerful tidal energy kites; and the opportunity to harness ‘moon energy’, making the most of the Earth’s resources in a sustainable approach. 

After the end of the period

After the end of the period, a total of 9,906,055 warrants of series TO4 were exercised, corresponding to approximately 89.0 percent of all outstanding warrants. Guarantee commitments amounted to 1,221,727 shares, which corresponded to approximately 11.0 percent of the outstanding TO4 warrants. As a result, the warrants were exercised in full, reaching 100 percent, and the subscription price was SEK 1.54. The Board of Directors resolved on a directed issue of 1,221,727 new shares (the “Directed Issue”) to the external investor Philip Ohlsson (the “Guarantor”). Through the exercise of the TO4 series warrants, Minesto receives approximately SEK 17.1 million before issuance costs. Furthermore, the Board resolved on a set-off issue of 667,666 new shares to the Guarantor as payment for the guarantee compensation.

The Group in summary 1 January-31 March 2025

Total operating income for the period amounted to SEK 6,298 thousand (6,791) and mainly consist of capitalised development work.Operating loss for the period amounted to SEK 10,697 thousand (–11,794). The negative result is largely attributable to business development and administration related to technology development. During the period, personnel costs of SEK 6,298 thousand (6,712) has been capitalised as development work.At the end of the period, the intangible assets amounted to SEK 553,664 thousand (508,537), of which capitalised development costs amounted to SEK 536,192 thousand (492,016), and capitalised patent expenses of SEK 17,471 thousand (16,520).Grants of SEK 246 thousand (439) were accounted for during the period, of which SEK 246 thousand (425) has reduced the acquisition value of the capitalised development costs.At the end of the period, cash flow amounted to SEK -24,317 thousand (-1,844). At the end of the period, cash and cash equivalents amounted to SEK 10,334 thousand (13,595).At the end of the period, equity amounted to SEK 557,716 thousand (511,171) divided into 194,116,040 shares (160,732,694), of which loss for the period amounted to SEK 10 843 thousand (–11,574).

The Interim Management Statement is available to download at Minesto’s website:
www.minesto.com/investor/investor-information

CEO comment:

Record public exposure and solid progress

“We have had an intense first quarter in the Faroe Islands with work on service, upgrades and onshore testing in Vestmanna. This work has included improvements to marine operation processes and maintenance work on infrastructure. We are looking forward to relaunch of the Dragon 12 and continued electricity production to grid. This is an obvious priority.

Business development work on our major next step – Hestfjord Phase 1 of 10MW – is moving forward with progress in important areas such as environmental permitting, verifications of site measurements and outlining of manufacturing set-up to deliver multiple kites.

Notably, the energy content in the tidal flows for Hestfjord in the Faroe Islands have proven to be higher than previously predicted with flow models. This is good news from a financial perspective, since the yearly production yield will be higher.

In close dialogue with key suppliers, we have also designed a set-up for manufacturing of the first batches of multiple large scale kites including supply chain logistics, system assembly and onshore testing. We have a unique ocean renewable technology in many aspects, whereof one is the ability to rely on serial production in a manufacturing process instead of ‘one-off’ shipyard-based build.

Our external communication has reached new record levels that safely can only be described as unique for a tech development company like ours. The collaboration with our strategic partner SKF on a ‘Faroe Islands space program’ (www.skf.com/group/fighting-friction/01) with millions of exposures is an ongoing success. Several more complementary activities will follow, such as exposure in multi-national TV documentary, and large European daily newspapers.

In addition, we have been invited and are actively involved in three different market development programs supported by the EU and the Swedish Energy Agency in markets such as Korea, Taiwan and Indonesia. We are also proudly taking part in the Nordic official business delegation to the world exhibition in Osaka 2025 and invited to IRENA (International Renewable Energy Association) energy innovation dialogues as well as tech conferences. These are important initiatives complementary to our main work to reach a commercial breakthrough in the Faroe Islands, and to secure a substantial sales growth trajectory following the first pioneering project.

Despite all the turmoil in the world, Minesto is relentlessly determined to offer our much needed and highly competitive renewable baseload energy technology at scale. More than ever, our unique technology is demanded by nations seeking energy independence and security, as well as a resilient system of renewable, affordable and dispatchable energy.”

/Martin Edlund, CEO

For additional information, please contact:
Cecilia Sernhage, Chief Communications Officer
+46 735 23 71 58
ir@minesto.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/minesto-ab/r/interim-management-statement-1-january—31-march-2025,c4143237

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CAS Holdings Appoints Patrick McDermott as Chief Executive Officer

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Leadership Transition Positions CAS Holdings for Continued Growth and Customer-Focused Innovation

FRANKLIN, Mass., April 18, 2026 /PRNewswire/ — CAS Holdings, a leader in industrial automation distribution, engineering, and integration, is pleased to announce that Patrick McDermott has been named Chief Executive Officer.

McDermott previously served as President and Chief Revenue Officer, where he played a key role in driving growth across the organization, strengthening customer relationships, and leading teams with a clear focus on execution and results.

In his new role as CEO, McDermott will lead CAS Holdings into its next phase of growth, building on the company’s strong foundation and continued commitment to delivering value to customers, partners, and employees.

“I’m honored to step into the role of CEO at CAS Holdings,” said McDermott. “Over the past year, I’ve had the opportunity to work alongside an incredible team, support our customers, and help drive the growth of our organization. I’m excited to build on that momentum as we move into our next chapter.”

CAS Holdings, through its divisions including iAutomation and RND Automation, delivers a full spectrum of industrial automation solutions – from product distribution and technical support to custom machine building and system integration. Serving OEM machine builders and end-users, the company brings deep expertise in motion control, robotics, and vision, along with value-added capabilities such as kitting, sub-assembly, panel building, and turnkey automation systems, acting as an extension of its customers’ engineering and production teams.

McDermott’s leadership will focus on advancing CAS Holdings’ strategic initiatives, strengthening its market position, and continuing to deliver innovative automation solutions that support customers across a wide range of industries.

“We have a strong foundation, a talented team, and a clear direction. I’m looking forward to what we’ll accomplish together,” McDermott said. “Our focus remains on supporting our customers with responsive, local expertise, strong supplier partnerships, and the engineering and production capabilities they rely on to keep their operations running and growing.”

About Complete Automation Solutions Holdings

Complete Automation Solutions Holdings (CAS Holdings) is dedicated to empowering industrial automation companies, including those in the packaging industry, to achieve optimal efficiency and success. With a diverse portfolio encompassing industrial distribution, panel building and assembly, system integration, and robotics, CAS Holdings provides comprehensive packaging machines and solutions tailored to meet industry needs. The company prioritizes strong partnerships, expert engineering, and innovative solutions, ensuring sustainable practices and continuous improvement. CAS Holdings envisions a future where its transformative automation solutions redefine industry standards and drive growth. Committed to transparency and collaboration, CAS Holdings aims to be the most trusted partner in the automation sector.

Press Contact:

Erika Jacques
508-838-8012
http://www.iautomation.com/

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SOURCE CAS Holdings, Inc.

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Vipboss Marks Earth Day with Renewed Commitment to Green Energy Solutions

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NEW YORK, April 18, 2026 /PRNewswire/ — As Earth Day draws global attention to environmental responsibility, Vipboss, a specialist manufacturer and developer of lithium iron phosphate (LiFePO4) battery packs for energy storage and mobility applications, is underscoring its long‑term commitment to sustainable energy practices through its Environmental Advocacy. This advocacy is devoid of ornate language; its inspiration stems from the brand’s unwavering conviction in LiFePO4 batteries as a green energy solution. To align this message with practical action, the brand is also running a themed sales campaign on its official website during April 18th to 30th. It highlights how practical product solutions, rather than abstract concepts, can support cleaner energy use in everyday life.

Across the world, energy consumption patterns are undergoing rapid change. Households, outdoor users, and light‑mobility sectors are increasingly seeking energy systems that are safe, sustainable, and low‑emission. Within this shift, LiFePO4 batteries have emerged as a preferred technology for clean‑energy applications. Their long service life, high safety profile, and absence of cobalt, which is an element associated with higher environmental and ethical risks, position them as a responsible choice in the global transition toward greener power.

LiFePO4 technology forms the foundation of Vipboss’s approach to sustainable energy. Its extended cycle life reduces the frequency of battery replacement, lowering resource consumption and easing the environmental burden associated with disposal. The material’s inherent stability also minimizes the risk of thermal runaway, offering a safer experience in homes, recreational vehicles, and public environments. In practical use cases such as home backup systems, RV travel, and golf‑course operations, LiFePO4 batteries deliver efficient storage and stable output, helping reduce reliance on fossil‑fuel‑based energy sources and supporting lower‑carbon lifestyles.

Vipboss’s environmental advocacy extends beyond the technical advantages of its products. The brand promotes responsible energy use as an integral part of sustainable living, emphasizing that product design and informed application must work together to achieve meaningful environmental outcomes. As a provider of energy solutions for home, travel, and leisure scenarios, Vipboss continues to participate in the long‑term process of green transformation through ongoing technological refinement and product evolution.

Earth Day serves as a reminder that lasting environmental impact is built through small, consistent actions. Looking ahead, Vipboss will continue advancing safer, more durable, and more efficient energy products that support individuals and families in adopting more sustainable energy habits. Through these efforts, the brand aims to contribute enduring value to the wider adoption of clean energy and the collective pursuit of a more sustainable future.

About Vipboss

Vipboss is a specialist in the lithium battery industry, focusing on the research, production, and manufacturing of lithium iron phosphate (LiFePO4) battery packs. The company is committed to advancing battery technology with an emphasis on reliable performance, safety, and extended service life. Its mission is to deliver safe, efficient, and environmentally responsible energy solutions that contribute to a cleaner, more sustainable future.

For more information, please visit: https://vipbosspower.com/.

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Pastor Dino Rizzo Marks 100 Days to Serve Day Ahead of Global Outreach Initiative

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Pastor Dino Rizzo highlighted the milestone of 100 days until Serve Day 2026, as thousands of churches prepare to serve their communities through coordinated acts of kindness on July 11.

BIRMINGHAM, Ala., April 18, 2026 /PRNewswire/ — Pastor Dino Rizzo joined church leaders and teams on April 2 to mark 100 days until Serve Day 2026, a global outreach initiative set for July 11. The milestone brings together more than 2,900 churches preparing to serve their local communities through practical acts of kindness and outreach.

Serve Day, led by many churches within the Association of Related Churches, provides a coordinated opportunity for churches worldwide to engage their cities and demonstrate their faith through service. Pastor Dino Rizzo, who serves as Executive Director of ARC, emphasized the significance of the initiative as both a single-day event and a broader movement.

“Serve Day provides churches across the world with opportunities to serve their local communities and share the love of God through practical acts of kindness,” Rizzo said. “Our hope is that serving others becomes our focus throughout the year.”

The April 2 milestone reflects growing participation and anticipation among churches globally. Leaders are currently equipping teams, organizing projects, and connecting with local communities in preparation for July. Churches that join the initiative gain access to resources, including the Serve Day playbook, monthly leadership calls, and a private online community designed to support collaboration and planning.

Pastor Dino Rizzo has long championed the role of service within the church through the Servolution movement. Introduced through his 2009 book Servolution: Starting a Church Revolution Through Serving, the concept calls churches to embed serving into their culture rather than limit it to occasional events. The message has since influenced hundreds of churches across multiple countries, including the United States, Peru, New Zealand, and Poland.

“Serving is not just about an event. It is about building a culture where meeting needs and reaching people becomes part of who we are,” Rizzo has shared in previous teachings, reinforcing the long-term vision behind initiatives like Serve Day.

In addition to leading Serve Day, Pastor Dino Rizzo continues his work with ARC, which has planted over 1200 churches and continues to train and equip new church leaders. His involvement in conferences, leadership development, and global outreach initiatives reflects a consistent focus on sustainable church growth and community impact.

Churches interested in participating in Serve Day 2026 can learn more through ARC’s official website and access resources designed to support local outreach efforts.

About Pastor Dino Rizzo

Pastor Dino Rizzo is a pastor, author, and church leader known for his emphasis on service, leadership, and healthy church culture. He serves as Executive Director of the Association of Related Churches, an organization that has helped launch hundreds of churches worldwide. Rizzo is also the author of Servolution, a book that has inspired a global movement centered on serving others as a core expression of faith.

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Contact Name: Jessica Brown

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SOURCE Dino Rizzo

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