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Crowdfunding success of Kitemill

12-07-2016 02:08 PM CET | Energy & Environment

Press release from: Kitemill

Voss, Norway – December 7th, 2016 – Kitemill opened a crowdfunding campaign. The aim is to attract new investors to the company, to make the company's environmental friendly solutions available soon enough for the commercial market. Thus far, investors have subscribed for close to four million NOK. The goal is between six and nine million NOK.

Kitemill is a technology company that will revolutionize the wind power industry. This is by using a kite to harness Kitemill strong and stable winds in higher altitude to produce energy in an environmentally friendly, safe and affordable way. Kitemill’s kites can barely be seen when they draw energy through the sky over 400 meters high. A full scale production can reach up to 1500 meters’ altitude.

On Invesdor.com to December 15
The crowdfunding campaign started on 24th of November 2016 and will end the 15th of December 2016. On the campaign's first day, we have received subscriptions from seven new investors for a total of 2 030 000 million. The same amount is going into a short period of time, based on existing agreements. Clearly the campaign has a very good start. You can get more information about it on Invesdor.com.

Industrial Cluster of Kongsberg ownership
Kitemill’s largest shareholder today are farmer, entrepreneur and investor, Jon Gjerde, with family. In addition, strong industrial partners as owners, represented by including Kongsberg Innovation AS, Lundevågen Holding AS (owner of Einar Øgrey Farsund) and Transition Robotics from the US. Some of the first subscribers in the ongoing crowdfunding campaign was Voss Sparebank, with 1.5 million NOK.

In addition, several private investors subscribed for larger and smaller amounts. The minimum limit for investment is set low, to 4.000 million, based on a price of Kitemill stock to 5 million. The minimum amount for subscription is 800 shares, equivalent to 4.000 million.

-This allows not only heavy investors but also private persons, to take an ownership stake. Many want to contribute to a green shift in the world. Kitemill can make a difference, through our environmentally friendly technology that produces energy without leaving the impression anthropogenic footprint in nature, says Kitemill’s general manager, Thomas Hårklau.

The Crowdfunding campaign closes 15/12/2016

Contact:
Lode Carnel
lc@kitemill.no
Magasinveien 35
5703 Voss,
Norway

We bring wind energy technology to the skies! Kitemill uses a fraction of the materials for the same output of energy by ground based windmills at altitudes where the wind is stronger and more consistent.

Magasinveien 35
5703 VOSS
Norway

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