8 years ago

Kite Power Systems Secures £2 Million Investment to Advance Kite Power Technology in Scotland

  • Kite Power Systems (KPS), a Glasgow, Scotland, UK-based developer of innovative new kite power technology, secured £2m in equity funding from the Scottish Investment Bank, joining E.ON, Schlumberger and Shell Technology Ventures, who announced a combined £5m investment in the company in December 2016

  • KPS plans to use the funds to further expand and demonstrate the latest iteration of its kite power technology in Scotland

  • KPS provides a power system that features two kites which fly up to an altitude of 1500 feet

  • Both kites are attached by tethers to a winch system that generates electricity as it spools out

  • The company believes its 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

  • In February 2017, KPS re-located from Essex and consolidated all of its activities in Scotland, establishing a research and test facility near Stranraer and a head office in Glasgow

  • The company aims to grow to 34 employees by the end of 2017.

      • ProblemEnergy

      "Find a cost-effective and efficient way to generate electricity offshore"

      Solution

      "Kite Power Systems uses kite technology to generate electricity as kites fly up to 1500 feet, generating electricity as the tethers spool out, making it a potentially cheaper and more efficient alternative to traditional wind turbines in the offshore wind generation market"

      Covered on