First funding round closed

e-kite, a Dutch start-up company focused on developing, manufacturing and marketing of kite power systems, has closed its first round of equity funding. The capital will be employed to design and build a prototype 50kW kite power system.

Kite power systems enable generation of electricity from wind using kites at >50% lower cost of energy compared to wind turbines. One reason is that wind energy is harvested at higher altitudes where wind speeds are higher. Further, investment costs are significantly lower than for wind turbines since blades and towers are not required.

The company’s goal is to commercially launch its 50kW kite power system in 2016, targeted at energy co-operatives, farmers, land owners and companies in rural areas. Going forward, e-kite intends to develop and launch a utility-scale kite power system able to reach cost of energy levels competitive with fossil fuels.