Kitemill secures millions in EU funding through the EIC Accelerator
Kitemill will receive a grant of €2.5 million from the European Innovation Council Accelerator programme. The company is also in the process of securing an €8 million equity investment from the EIC Fund, matched by other investors. Kitemill was the only Norwegian company awarded funding in this round, competing against around 1,000 companies from more than 30 countries.
'Kitemill is an excellent example of the kind of company Norway needs more of in the years ahead. The EU’s commitment is a significant endorsement, and we are delighted to congratulate Kitemill on successfully passing the EIC’s rigorous selection process for the second time. We value our partnership with Kitemill and look forward to continuing our work together,' says our CEO, Håkon Haugli.
- 'Kitemill's solution offers an innovative way to harness energy. It has great potential and can help make the world more sustainable,' he says.
Innovative climate technology
The investment is part of the EU's ongoing efforts to support innovative and sustainable technologies. Kitemill's pioneering high-altitude wind technology has shown clear potential to contribute to a more sustainable future. The technology harnesses wind energy at high altitudes, and Kitemill can now continue its work to demonstrate the technology's efficiency and minimal environmental impact.
'Our systems are designed to operate efficiently and sustainably, using advanced technologies to harness wind energy at higher altitudes, where winds are more consistent and stronger. This investment comes at a critical time, as the world faces growing pressure to reduce carbon emissions and transition to cleaner energy sources. Kitemill's technology can play a key role in this transition, and this investment will undoubtedly help us realise that potential,' says CEO Thomas Hårklau.
Read more about Kitemill's solution on its website.
Read more about how Kitemill presents its solution to international audiences on Business Norway.
Working with us
Kitemill says they are very pleased with their collaboration with us:
- Innovation Norway has provided experienced advisers throughout the process. We are particularly pleased with the programme they put in place to prepare us for this final and decisive stage of the EIC selection process. From experience, we know it is well worth taking part in every activity Innovation Norway offers. At this stage, coming to Oslo to practise in front of a highly knowledgeable and skilled panel of experts was particularly valuable. The many excellent coaching sessions with Nathan Gold were also a great help. Working on behalf of Innovation Norway, he also helped us make it through the selection process in 2019,' says Kitemill CEO Thomas Hårklau.