Home Crowdfunding success of Kitemill

Crowdfunding success of Kitemill

Press Release: December 08, 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. So 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 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 15th
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 and
Voss Energi, with 250.000,-.

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

-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 with minimal footprint in nature, says Kitemill’s general manager, Thomas Hårklau.

The Crowdfunding campaign closes 15/12/2016

Notes to editors

For more information, please contact:

Visit the newsroom of: lc@kitemill.no