Kitepower secures €3 million for innovative airborne wind energy system
Kitepower has secured a €3 million investment agreement for the development of innovative airborne wind energy systems. Energy innovation fund ENERGIIQ, Stichting ifund and Windhandel Beheer are investing €1 million each in Kitepower. The Delft-based start-up will use the funds to commercialise its innovative airborne wind energy system (AWES) and further expand its organisation. The investment was announced on 16 June at Kitepower’s premises in Delft.
The investment will enable Kitepower to accelerate the development and market introduction of its technology, which has the potential to significantly reduce CO2 emissions across diesel-dependant industries. It will also create job opportunities in Delft and the surrounding region. Apart from financial support, the investors can provide access to a broad network of experts and contacts to propel the commercialisation rollout.
Mobile, plug & play alternative for microgrids
Kitepower, co-founded in 2016 by CEO Johannes Peschel and TU Delft associate professor Roland Schmehl, is a spin-off from the TU Delft’s kite power research group. The company has developed its 100kW AWES with a ‘Fast Track to Innovation’ grant from the European Union’s Horizon 2020 framework programme, guided by a mentoring partnership with tech incubator YES!Delft and with support from angel investor and wind energy expert Henk Hutting.
Johannes Peschel, Founder CEO of Kitepower, is enthusiastic about the future and says: “This investment will significantly boost our ability to refine and develop our system and organisation. Our technology presents an opportunity to disrupt the global renewable energy market by ease of operation and increased capacity. We look forward to a successful collaboration with many learning opportunities.”
Source: Kitepower
