The Dutch company Enevate, operating under the trade name Kitepower, has been declared bankrupt by a court. The trustee is seeking a buyer or investor interested in continuing the company’s activities and further developing its airborne wind energy technology.
Based in Delft, the Netherlands, Kitepower develops a system that generates electricity using a large kite. Approximately €6 million has been invested in the company since its establishment. However, difficulties in securing additional funding to cover operating costs led to the bankruptcy.
The technology has reached the working demonstrator stage but requires further development before it can become a commercial product. Key objectives include increasing power output and extending flight duration. According to the company, the technology attracted interest last year from businesses in the construction and manufacturing sectors looking for electricity supply solutions at sites with limited or no grid access.
Kitepower has an operational technology, its own test site and an experienced team. The trustee is seeking a party with the financial resources and a plan to take the technology towards commercial deployment.
