- Infinitum Electric, the creator of the breakthrough air-core motor, announced recently that they have raised a $40 million Series C funding round. These are the details.
Infinitum Electric — the creator of the breakthrough air-core motor — announced recently that they have raised $40 million in Series C funding to scale production of its ultra-high-efficiency lightweight motors. The funding round will be used to expand the production of the company’s IEs Series motors for commercial and industrial applications and complete the development of its IEm Series motors for the rapidly growing electric vehicle market.
Energy Innovation Capital led the funding round with Infinitum Electric’s existing investors Cottonwood Technology Fund, Chevron Technology Ventures, and Ajax Strategies participating. And Rockwell Automation also purchased an equity stake in Infinitum Electric, bringing the company’s total funding to date to $55 million.
Motors are known for consuming over half the world’s electricity, but have largely remained unchanged over the last 100 years. And Infinitum Electric’s reinvented motors use lightweight materials and modular design to generate the same power in half the size and weight, at a fraction of the carbon footprint of conventional motors. Upon being introduced in 2020, the company’s motors have quickly gained traction among leading commercial HVAC, industrial, and automotive suppliers developing new products with environmental sustainability, efficiency and serviceability in mind.
Infinitum Electric’s motor design replaces the copper wire and laminated iron core that is found in conventional motors with a printed circuit board stator, making the motor smaller, lighter and more efficient. And 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, variable frequency drive (VFD) and embedded IoT in a single compact package.
KEY QUOTES:
“We’re excited to ramp production of our motors after seeing significant demand in the commercial HVAC and industrial markets, as well as the growing interest from electric vehicle suppliers who see the potential a highly efficient, lightweight motor can deliver. Partnering with Energy Innovation Capital, Rockwell Automation and our existing investors allows us to scale and power machines more efficiently and sustainably.”
— Ben Schuler, founder and CEO of Infinitum Electric
“Infinitum Electric’s innovative technology approach and pragmatic design has resulted in a motor made for the next 100 years. Environmental, Social and Governance (ESG) is an important business driver. As the world adds 800 million motors annually, Infinitum Electric is positioned to make machines we rely on more sustainable. We’re excited to welcome Infinitum Electric to our portfolio of companies addressing the world’s biggest 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 addresses the entire lifecycle of the combined motor and variable frequency drive – from its materials, to how it’s tested, produced, transported, assembled, used, and maintained – and we see this work as a natural extension of our growing business helping our customers to be more productive and sustainable. Their motor and variable frequency drive packaged solution offers superior performance and efficiency, while emphasizing usability, which is a key differentiator.”
— Bob Buttermore, vice president and general manager of Rockwell Automation’s Power Control business
