Electric Motor Developer Company Infinitum Electric Raises $40 Million

  • Infinitum Electric, inventor of the groundbreaking air-core motor, recently announced that it has closed a Series C financing round valued at $ 40 million. These are the details.

Infinitum Electric – the inventor of the groundbreaking air-core motor – recently announced that they have raised $ 40 million in Series C funding to scale production of its ultra-high efficiency, lightweight motors. The round of funding will be used to expand production of the company’s IEs series motors for commercial and industrial applications and complete development of the IEm series motors for the rapidly growing electric vehicle market.

Energy Innovation Capital led the financing round with the participation of existing investors Cottonwood Technology Fund, Chevron Technology Ventures and Ajax Strategies from Infinitum Electric. In addition, Rockwell Automation has acquired a stake in Infinitum Electric, bringing the company’s total funding to $ 55 million.

Motors are known to use more than half of the world’s electricity, but have remained largely unchanged over the past 100 years. Infinitum Electric’s reinvented motors use lightweight materials and modular construction to produce the same power in half the size and weight for a fraction of the carbon footprint of traditional motors. Launched in 2020, the company’s engines have quickly gained in importance with leading commercial HVAC, industrial and automotive suppliers who develop new products with a focus on environmental sustainability, efficiency and serviceability.

Infinitum Electric’s motor design replaces the copper wire and laminated iron core of traditional motors with a printed circuit board stator, making the motor smaller, lighter and more efficient. Infinitum electric motors are 10% more efficient, 50% lighter and smaller and significantly quieter than conventional motors. Plus Infinitum electric motors offer a fully integrated system: motor, frequency converter (VFD) and embedded IoT in a single compact package.

IMPORTANT QUOTES:

“We are excited to increase production of our motors after seeing significant demand in the commercial HVAC and industrial markets and growing interest from electric vehicle suppliers who can see the potential of a highly efficient, lightweight motor. By partnering with Energy Innovation Capital, Rockwell Automation and our existing investors, we can scale and power machines more efficiently and sustainably. “

– Ben Schuler, Founder and CEO of Infinitum Electric

“Infinitum Electric’s innovative technological approach and pragmatic design have resulted in an engine that will last for the next 100 years. Environment, social and governance (ESG) is an important business factor. With the world adding 800 million motors annually, Infinitum Electric is able to make machines we rely on more sustainable. We are excited to welcome Infinitum Electric to our portfolio of companies facing the world’s greatest energy challenges and look forward to working with the company’s incredibly talented team of industry experts. “

– Kevin Skillern, Managing Partner of Energy Innovation Capital

“Infinitum Electric deals with the entire life cycle of the combined motor and drive – from its materials to testing, manufacture, transportation, assembly, use and maintenance – and we see this work as a natural extension of our growing business help to make our customers more productive and sustainable be. The motor and frequency converter solution offers superior performance and efficiency while emphasizing ease of use, which is a key differentiator. “

– Bob Buttermore, vice president and general manager of the Power Control business for Rockwell Automation

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