Google to purchase kite-power start-up Makani

Company developing high altitude wind energy device set to become part of secretive Google X lab
By BusinessGreen staff 24 May 2013

Google is in the process of acquiring Makani Power, a US company developing high-altitude wind energy devices.

Makani is in the final stages of testing a tethered wing device outfitted with turbines that floats between 250m and 600m in the air where winds are stronger. The company aims to develop a 600kW version for utility-scale generation that it says would produce electricity at a lower cost than conventional wind or solar.

"This formalises a long and productive relationship between our two companies, and will provide Makani with the resources to accelerate our work to make wind energy cost competitive with fossil fuels," Makani said in a statement on its website.

Read more: http://www.businessgreen.com/bg/news/2270196/google-to-purchase-kitepower-startup-makani

Interesting stuff, and good news that a oil company didn't buy them up.