DVAN Advocaten assists foundation ifund in investment Kitepower

Description

Stichting ifund, the South Holland energy investment fund ENERGIIQ and Windhandel Beheer are each investing €1 million in Kitepower. The Delft startup will use the investment to commercialize its innovative airborne wind energy system (AWES) and further expand its organization. Kitepower's mobile system enables power generation in remote locations where environmental conditions preclude conventional forms of renewable energy generation.

Delft startup Kitepower is a leader in the field of "airborne wind energy systems" (AWES): flying wind turbines or kite energy. Kitepower was founded in 2016 by CEO Johannes Peschel and associate professor at TU Delft Roland Schmehl. The business is a spin-off of TU Delft's Kitepower research group. The business develops innovative and cost-effective alternatives to conventional wind turbines. The patented technology is a gamechanger in the wind energy sector. Through this innovative form of renewable energy, Kitepower hopes to realize its mission: "clean, affordable and sustainable energy for everyone.

Stichting ifund's goal is to continue the long-term viability for people on earth by encouraging the transition to a sustainable society, in which people generate renewable energy, produce organic food and have access to clean water on a regional and local scale. Foundation ifund invests in impact-first startups with an investment usually between €200,000 and €1 million.

Stefan van Eijk, fund manager at Stichting ifund: "We believe Kitepower will prove to be a catalyst for flying wind turbines, enabling renewable energy for a completely new market segment. We look forward to the period ahead and will support Kitepower in the further commercialization of their technology."

The investment was made together with co-investors Windhandel Beheer, the investment vehicle of wind energy pioneer Henk Hutting, who passed away last year, and ENERGIIQ, the energy innovation fund of the province of South Holland, which is managed by InnovationQuarter