GOTHENBURG, Sweden, March 27, 2025 /PRNewswire/ -- While others race to the moon and back, the Faroe Islands space program takes a bold new step in space exploration-without ever leaving Earth. One of the largest bearing manufacturers SKF, and ocean energy developer Minesto are launching a space program to harness the Moon's energy by leveraging the power of the tides. This space program aims to utilize the resources we already have right here on Earth.

"Imagine a future powered by the tides of the Moon. This unique project dares to dream big and is exploring the potential of renewable tidal energy. At SKF we are proud to be a part of this down-to-earth project that aligns with our values and our ambition to create a more sustainable world," says Annika Ölme, CTO & SVP, Technology Development, SKF.

Over the past year, SKF and Minesto have been pioneering tidal energy using tidal kites in the Atlantic Sea outside the Faroe Islands. The mission is to harness the Moon's power for predictable and renewable energy. After its successful launch into the ocean, the tidal kite called LUNA is flying underwater, invisibly and silently harvesting energy from the Moon - no matter the weather. Today, only a few of the countries with favorable tidal current conditions are beginning to utilize the full potential of moon generated energy - the most predictable renewable energy source on the globe.

"For us, as a tech development company to work with a global industrial company such as SKF is both a learning experience and an inspiration," says Martin Edlund, CEO of Minesto. "We estimate there are at least 3000 more "Faroe Islands" out there qualifying for our space program - if they all join, moon energy could replace all coal power capacity currently under development globally."

The established tidal energy facility - a moon energy base - will kick off the Faroe Islands Space Program, firmly grounded on Earth. The kite Luna has a rated power of 1.2 MW, enough to power 200 villas with electricity for one year. The next goal is to implement a new 200 MW tidal energy facility. This could meet 40% of the expected electricity needs in 2030, providing green electricity to the small, remote island nation's 50,000 people and 70,000 sheep. Unlocking the power of the tides is a joint work together with power company Sev:

"Our vision is to reach 100% renewable electricity generation by 2030 and we believe that tidal power may prove to become a vital part of this journey," says Hákun Djurhuus, CEO of the Faroese electricity company Sev.

SKF was brought on board to design the bearing and sealing systems for the rudders and elevators of the kites. The SKF software system calculates, for example, bearing rating life and estimates CO2 emissions, which makes it possible to compare different solutions not only from a technical perspective but also from a sustainability point of view.

"Collaboration across industries is essential for progress. Together with Minesto, we are demonstrating how technology and innovation can drive the transition to renewable energy," says Annika Ölme, CTO & SVP, Technology Development, SKF.

By framing it as a space program (that never leaves earth), the partners aim to emphasize the importance of exploring how we can harness the Moon's energy to generate renewable energy through tidal forces--amidst a new space race where many are discussing the potential of extracting resources from space and other planets.

Short facts tidal and ocean energy:

According to the International Energy Agency, 80 % of global electricity currently comes from fossil fuels.
By 2050, ocean energy could potentially provide a substantial portion of the energy mix. Ocean energy is local, renewable and tides are predictable, which makes it the perfect partner to more established renewables like wind and solar.
Ocean energy Europe estimates that ocean energy can provide 10% of Europe's electricity and create 400.000 skilled jobs by 2050.

Source:

World Energy Outlook 2024

Ocean energy - European Commission

Minesto | Ocean energy

Dashboard - Global Energy Monitor "610 GW Coal Power Capacity Under Development"

Disclaimers

The mission of the Faroe Islands energy company SEV, to reach 100% renewable energy by 2030, is not indicative of the displayed product's full supply chain impact.

Calculated on an example villa with an energy consumption of 17.000 kWh/year. For average consumption data, please refer to country- specific sources such as Vattenfall

Aktiebolaget SKF

(publ)

For further information, please contact:

Press Relations: Press Relations: Sian How, +447970 737470; sian.how@skf.com
Karin Markhede, +46 70 758 87 30; karin.markhede@skf.com

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

https://news.cision.com/skf/r/a-space-program-that-never-leaves-earth,c4124396

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     https://news.cision.com/skf/i/skf-fisp-press-image-kite-launch-16x9,c3391154             SKF FISP Press Image Kite launch 16x9



     
     https://news.cision.com/skf/i/skf-fisp-press-image-kite-night-16x9,c3391158              SKF FISP Press image Kite night 16x9



     
     https://mb.cision.com/Public/637/4124396/b3a6f6438953e925.pdf                            About The Faroe Islands Space Program Fact
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     https://mb.cision.com/Public/637/4124396/b8aa410e2aaf474a.pdf                          
     Annika Ölme - Profile



     
     https://news.cision.com/skf/i/skf-annika-olme-cto,c3391152                             
     SKF Annika Ölme CTO



     
     https://news.cision.com/skf/i/skf-fisp-press-image-cliff-ocean-16x9,c3391153             SKF FISP Press image Cliff Ocean 16x9



     
     https://news.cision.com/skf/i/skf-fisp-press-image-tides-16x9,c3391156                 
     SKF FISP press image Tides 16x9



     
     https://news.cision.com/skf/i/skf-fisp-press-image-employees-group-16x9,c3391157         SKF FISP press image Employees Group 16x9



     
     https://news.cision.com/skf/i/skf-fisp-press-image-kite-info-16x9,c3391159               SKF FISP press image Kite info 16x9



     
     https://news.cision.com/skf/i/skf-fisp-press-image-employees-16x9,c3391160               SKF FISP press image Employees 16x9



     
     https://news.cision.com/skf/i/minesto-chief-executive-officer---martin-edlund,c3391161   Minesto Chief Executive Officer -Martin
                                                                                                  Edlund

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