The massive concept support from governmental organizations and NGOs is now followed up by a wave of incentives for green technologies. Now, and perhaps we can say naturally, the largest international cleantech energy funds find’s their way to Kitemill’s facilities at Lista, Norway.
For more than a year, Kitemill has worked on putting together a syndicate for a future Series A round. The timing of such event is hard to control and will be influenced by technology development, ability to increase operational performance, global sentiment, public perception,government willingness to support an up scaling and fund-internal timing considerations. More and more of these factors align, showing that the timing can soon be right. Last week our efforts were awarded with a two-day visit from three of the world's top climate tech investors, and we are now allowed to share who these visitors are.
Breakthrough Energy Ventures
- Bill Gates initiative to finance truly impactful technologies. With more than €2bn assets under management, BEV will not involve unless there is a clear path to mitigate at least 1 % of global emissions through the technology they are investing in. According to Nysnø - they are not aware of other Norwegian clean techs that have received such attention from BEVto date, supporting our claim of being one of Norway's highest potential climate techs and the leading company global in airborne wind energy.
-is the climatetech vertical of IP Group - a London stock exchange listed evergreen VC fund, with an impressive history of 14% IRR over its 20 year lifespan. Kiko accelerates its investments and has a proven track record of using the AIM list in London for future fundraising providing funding for its portfolio and liquidity for their investors. Kiko is looking for evidence towards Airborne wind energy becoming the next cleantech megatrend with its vast potential for impact and profitable scaling.
- the Norwegian state-owned climate tech investor is investing in Norway's most promising cleantech companies together with renowned quality investors. Nysnø's goal is to create long term profitability on high impact investments in Norway, and an important side effect of their business model is to strengthen the investment ecosystem available for Norwegian cleantech’s.
On a mission to Net Zero 2050
The representatives of the three parties have agreed to work together with Kitemill in building the case, improving optics, defining tipping points, evaluate important milestones and conclude on metrics relevant to the future development and scaling of the technology and business.
Though an investment from this syndicate is far from certain, Kitemill is proud to be allowed to announce the formation of this informal band of schemers on a mission to make airborne wind energy come true with industry leader Kitemill.
Opportunity to invest now
We still have to succeed with the current seed round,and meeting the development targets for this round, namely significant development in operational experience with full days of operation, beyond visual line of sight and with more than one system will greatly increase Kitemill's attractiveness.
The series A round will not be open for the public, and the following rounds might neither. If you want an owner share in Kitemill, you should consider to join the crowdfunding campaign. The campaign is currently in soft launch with a target of NOK 17 million in validating capital before we go public with the offer.
Picture: Jean-Baptiste Curien from Nysnø Klimaninvesteringer, Thomas Hårklau Kitemill, Gaetan Bonhomme from BEV, Robert Trezona from Kiko, working on the kite from right Surabhi Jagtap, Christer Svenkerud and Stig Magne Olsen.