Kite Power Systems secures £5m funding from E.ON, Schlumberger and Shell Technology Ventures
Britain’s Kite Power Systems (KPS) has secured £5million (US$6.19m / €5.86m) of new investment from E.ON, Schlumberger and Shell Technology Ventures (STV). The investment will support KPS’s technical and commercial development of its pioneering high-altitude wind power generation technology.
KPS’s kite power technology has the potential to transform the global offshore wind generation market as it is cheaper to manufacture and requires less construction and installation materials than conventional wind turbines (See Notes to Editors).
- The lower cost means that kite power generation would not need government subsidies and could be deployed in UK and Irish waters (and other areas of the North Sea) and in waters up to and potentially deeper than 40m found offshore of countries such as Portugal, Japan and the USA. Kite Power Systems can also be deployed onshore.
This latest investment will support KPS’s plans to deploy a 500kW onshore power system at West Freugh in South West Scotland next year (2017), leading to a planned onshore demonstration array of multiple 500kW systems within the next 3-4 years.
Thereafter, KPS will develop a 3MW onshore system at West Freugh and then deploy a similar sized power system in offshore waters.
Source / More : Kite Power Systems (KPS)
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