A British company using kites to generate renewable energy has received £5 million of new investment.

Kite Power Systems (KPS) has received the funding from E.ON, Schlumberger and Shell Technology Ventures (STV) for the technical and commercial development of its high-altitude wind generation technology.

The firm claims it could transform global wind markets as its cheaper, quicker and easier to manufacture than conventional turbines, with this lower cost meaning it doesn’t need to be supported by government subsidies.

The system uses a kite to pull on its line and spool out cable from a drum, powering a generator.

The latest investment will help support a 500KW onshore kite development at West Freugh in South West Scotland, expected to be installed in 2017. It will be the first of several systems to be installed there over the next few years as part of a demonstration array.

KPS ultimately plans to develop a 3MW onshore system and a similarly sized project offshore.