AEM secures £16M to accelerate rare earth-free electric motor innovation
Advanced Electric Machines Group (AEM), a UK-based manufacturer of rare earth and magnet-free electric motors, has secured £16 million of funding to support the expansion of its product portfolio and ... The UK company will expand its product portfolio and scale production of magnet-free motors for automotive, industrial and marine applications. Mobility AEM secures £16M to accelerate rare earth-free electric motor innovation The UK company will expand its product portfolio and scale production of magnet-free motors for automotive, industrial and marine applications.
Key Takeaways
- Cate Lawrence 1 hour ago Share Share Send email Copy link Advanced Electric Machines Group (AEM), a UK-based manufacturer of rare earth and magnet-free electric motors, has secured £16 million of funding to support the expansion of its product portfolio and accelerate development of new electric propulsion solutions.
By eliminating permanent magnets, customers can reduce their exposure to the supply-chain challenges and the price volatility associated with rare earth materials.
- AEM manufactures its motors at its facility in Washington, where rare earth and magnet-free technology can already be produced at commercial scale.
The company is leveraging this proven manufacturing capability to support the development and future production of higher-torque products aimed at some of the most demanding electric powertrain applications.
- According to Dr James Widmer, CEO and co-founder of AEM, OEMs are increasingly looking for motor technologies that can deliver performance, cost competitiveness and manufacturing scalability without dependence on rare earth materials and magnets.
"Our technology has already demonstrated that this is possible in production environments.
- " Greg Debicki, Director, Principal Investments at Barclays Climate Ventures, said: "Developed at Newcastle University, AEM's innovative motor platform has the potential to support businesses around the world, while reinforcing the UK's reputation for advanced engineering.
This investment will help accelerate AEM's growth and we are glad to support the expansion of this regional champion.
- Northstar Ventures has worked with AEM through its evolution and has always been committed to backing the companies whose technologies will be the driver of future prosperity.
Stats & Key Facts
- #Advanced Electric Machines Group (AEM), a UK-based manufacturer of rare earth and magnet-free electric motors, has secured £16 million of funding to support the expansion of its product portfolio and ...
- #Cate Lawrence 1 hour ago Share Share Send email Copy link Advanced Electric Machines Group (AEM), a UK-based manufacturer of rare earth and magnet-free electric motors, has secured £16 million of funding to support the expansion of its product portfolio and accelerate development of new electric propulsion solutions.
The UK company will expand its product portfolio and scale production of magnet-free motors for automotive, industrial and marine applications. Mobility AEM secures £16M to accelerate rare earth-free electric motor innovation The UK company will expand its product portfolio and scale production of magnet-free motors for automotive, industrial and marine applications. Cate Lawrence 1 hour ago Share Share Send email Copy link Advanced Electric Machines Group (AEM), a UK-based manufacturer of rare earth and magnet-free electric motors, has secured £16 million of funding to support the expansion of its product portfolio and accelerate development of new electric propulsion solutions.
By eliminating permanent magnets, customers can reduce their exposure to the supply-chain challenges and the price volatility associated with rare earth materials. AEM's technology portfolio includes advanced control strategies, aluminium coils, and higher-speed, smaller, lighter designs that are being productionised. AEM manufactures its motors at its facility in Washington, where rare earth and magnet-free technology can already be produced at commercial scale.
The company is leveraging this proven manufacturing capability to support the development and future production of higher-torque products aimed at some of the most demanding electric powertrain applications. The funding round was led by existing shareholders Barclays Climate Ventures, PXN Ventures , Northstar Ventures and the Low Carbon Innovation Fund, alongside participation from new investors. Their equity investment is complemented by loan support from Innovate UK , and allows for expansion of facilities, expertise and production capability in Washington.
For more details please read the original article at Tech.eu.
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