UK outfit Kite Power Systems has secured £5m of new investment from Eon, Schlumberger and Shell Technology Ventures.
The company said the investment will support the technical and commercial development of its high-altitude wind power generation technology.
Specifically, the money will support plans to deploy a 500kW onshore power system at West Freugh in southwest Scotland next year.
Kite Power Systems will follow that with an array of multiple 500kW systems within the next three to four years.
A 3MW onshore system will then be deployed at West Freugh, after which a similar sized scheme will be installed offshore, the company said.
Kite Power Systems chief financial officer Paul Jones said: “The backing of these companies will accelerate (our) commercial development plans towards deploying lower cost, deep-water offshore wind energy on a global scale.”
