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April 23, 2010

Kitegen Funding is Not Simple and Somewhat Shrouded in Mystery

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Kitegen situation statement from Carlo Perassi, board of wind Operations which has a stake in Kitegen - the public news that is available is on http://www.kitegen.com/ and http://www.windoperationsworldwide.eu/en/ I can only say, once again, that the well known 15 Million Euros was not funded. The UE funded naval research for 3 Million Euro but just a part of them were related to KiteGen. I couldn't say more during these days. [NOTE: For those unfamiliar with fund raising. If you cannot talk about your funding situation it means that you are in the middle of trying to close a funding deal. If nothing is happening then you can talk about it and if it is a done deal you can talk about after some quiet period]

Kitegen holds all of the patents. Kitves is using the wind sail technology on commercial ships. So Kitves is presumably paying some patent licenses and consulting fees to the Kitegen company. WOW has some level of participation in Kitegen. WOW has about 883,000 euros.


There is a page on WOW with some financial disclosures Is it possible to look at the budget of the Kite Gen Research, Sequoia and W.O.W? Capital Company budgets are public: it is sufficient to go to the “Camera di Commercio” (Chamber of Commerce). Kite Gen Research works with a sister company Sequoia Automation S.r.l.
br> Sequaoia Automation

Website of the “sister” company of Kite Gen Research. Sequaoia Automation develops Kite Gen technology and takes care of the generator’s components production.

http://www.kitves.com/

Website of “KitVes” project, realized with 9 partners from 7 european countries and financed by the E.U. 7° research Framework Program. Project aims to provide an innovative solution to the electric energy supplying aboard vessels.

The father of KitVes and founded in 2007, Kite Gen is a brand for the new wind generation technology created by Kite Gen Research.

Wind Operations Worldwide S.p.A. Share capital: 883.800 € entirely deposited

Kitegen Technical Information

A plant has been invented that is able to produce 1 GW, the energy of a medium-sized nuclear power plant, at a sixth of the current kiloWatt per hour nuclear cost. In this plant, with 500/600 million Euro, it would be possible to install 200 kites which, capturing the eolian energy, would make a 1500 m diameter circular carousel rotate, which would be able to produce the forementioned quantity of power.

Kitegen Technical FAQ

This term indicates an entire family of systems of a new conception, devoted to extracting energy from the wind at costs that are competitive with coal. In particular, the technological aim is the exploitation of the source of energy formed by the constant and intense winds that blow at a height (between 500 and 1000 metres above the ground).

The prototype has produced a power of more than 25 KW with a kite of 20 square meters (however that plant was not designed to reach maximum power). An optimised plant with a bigger kite can reach 1 MW nominal power, and, with more efficient airfoil, a power of 5 MW can be attained.

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