Airborne wind energy developer Kitemill has secured a multi-million euro grant from the European Innovation Council (EIC) to accelerate the commercial launch of its novel technology.
The €2.5m injection marks a significant milestone for Kitemill and its KM2 system which received commendation from the EIC Jury for its “Technological Advantages” and “Readiness for Market”.
The Norwegian firm’s 100kW wind energy device operates at high altitudes where winds are stronger and more stable, resulting in lower material use and higher energy availability compared to traditional wind turbines and solar power, according to the developer.
The EU has previously backed Kitemill in two separate funding rounds allocating €3.35m – through the European Innovation Fund’s ‘Small Scale Infrastructure Projects’ initiative – plus a further €2.4m, in 2019 and 2022 respectively.
The €3.35m grant will support the Norse Airborne Wind Energy Project (NAWEP) involving a 12-unit AWE array in the Greenflyway Zone between Sweden and Norway.
Kitemill is also now eligible for the EU’s ‘Blended Finance’ programme match-funding up to €8m of private investment.
Earlier in 2024, Kitemill also secured €2m from Dutch investment group Expanding Dreams, together with fellow investors plus a tax relief grant.
Kitemill’s chief executive Thomas Hårklau said the latest announcement demonstrates the EU’s firm commitment to Kitemill as a solution well aligned with the European Green Deal and Net Zero Industry Act (NZIA).
He added: “Our novel technology has now been accepted and approved by the EU through three separate funding rounds.
“This latest tranche will help de-risk a critical phase for the KM2, including demonstration of the system’s performance in an operational environment.
“It also serves an important function to boost customer and public trust. But it doesn’t stop there. The ‘Blended Finance’ programme now provides a golden opportunity to unlock further financial resource to scale operations even more quickly.”