Innovation credit (Innovatiekrediet) was granted to e-kite by the Dutch Ministry of Economic Affairs. With this funding, the company has financially covered the development program to turn its 50kW prototype into the first commercially available kite power system.
Kite power systems generate electricity from wind using kites at >50% lower cost of energy compared to wind turbines. The 50kW system that e-kite intends to commercially launch in 2016 will therefore have lower generation costs per kWh than any other form of local electricity generation.
e-kite is extremely pleased with its innovation credit grant, as it also is a recognition of the potential of the company. The application procedure is very selective and innovation credit is only granted to innovative projects with strong commercial prospects.