Airborne Wind Energy becomes Mainstream with Shell, E.ON Investment
Airborne Wind Energy company Kite Power Systems secures £ 5 m funding from E.ON, Schlumberger and Shell Technology Ventures.
Britain’s Kite Power Systems (KPS) has secured £ 5 million (US$ 6.19 m / € 5.86 m) of new investment from E.ON, Schlumberger and Shell Technology Ventures (STV). The investment will support the technical and commercial development of KPS’s pioneering airborne wind energy system.
Geert van de Wouw, Managing Director of Shell Technology Ventures said: “We have closely followed KPS’s progress over the years and consider that its disruptive wind technology is on the right trajectory towards commercialisation. […] Over time, KPS has convinced me that its high altitude kite power solution has disruptive potential for the wind industry.”
E.ON is headquartered in Germany and is focusing on renewables, energy grids and customer solutions. Frank Meyer, Senior Vice President B2C & Innovation at E.ON said: “E.ON has been looking into airborne wind technologies for five years. The approach of Kite Power Solutions has the potential to become a game changer for the wind energy market.”
Frank Meyer continues: “It supports one of our overall targets to drive down the costs for renewable energy. In addition to this, we catch the opportunity to be a first mover in producing renewable energy at locations where it is, for economic and technical reasons, not possible today.”
Airborne Wind Energy has become a mainstream renewable energy technology with the multimillion dollar investments by Shell and E.ON. For years these companies have reviewed airborne wind energy with their experienced engineering teams. Their decision to invest shows that Airborne Wind Energy has a good chance of becoming the next generation of wind energy.
Link to E.ON Press Release